What aluminium assets is South32 selling to Alcoa, and what is the total implied enterprise value of the deal?

South32 is selling its interests in Australia's Worsley Alumina, South Africa's Hillside Aluminium, Brazil's MRN bauxite mine, Brazil Alumina refinery, and Brazil Aluminium smelter to Alcoa for an implied enterprise value of up to $5.6 billion.

What financial and operational benefits does South32 expect from this transaction, according to its incoming CEO?

According to incoming CEO Matthew Daley, the transaction will result in a simpler business with a portfolio of higher-margin upstream operations, reduced complexity, and greater resilience; it will enable a leaner, lower-cost operating model delivering an anticipated US$125 million per annum reduction in overhead costs as new support structures are implemented.

South32 to sell certain aluminium assets to Alcoa for up to $5.6 bln

Jun 30, 2026

South32 agreed to sell most of its aluminium assets to Alcoa for up to $5.6 billion, covering operations in Australia, South Africa, and Brazil. The deal, expected to close in late 2027, aims to generate $900 million in synergies for Alcoa.

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