News
Brazil - CBA moves to exit Alunorte with stake sale
Issued at 2024-11-25
Tweet
Deal with the Glencore subsidiary includes a 3.03% minority share for R$236.8 million
Companhia Brasileira de Alumínio (CBA) has entered into an agreement with a subsidiary of Glencore, the Swiss mining giant, to divest its stake in Alunorte, one of the world's largest alumina (aluminum oxide) refineries. Located in Barcarena, Pará, Alunorte boasts an annual production capacity of 6 million tonnes and has been controlled by Norsk Hydro since its founding in 1995.
The deal involves the sale of CBA's 3.03% minority stake for R$236.8 million, payable in cash upon completion.
The transaction has received approval from CBA's board of directors but is still subject to final clearance at an extraordinary Alunorte shareholders' meeting.
In a notice of material fact, CBA explained that the divestment aligns with its strategic focus on its core aluminum business. The company, which is self-sufficient in alumina production, highlighted that vertical integration remains one of its key competitive advantages.
Upon finalization of the sale, CBA will forgo its entitlement to the proportional alumina production from Alunorte and will no longer be able to sell the surplus alumina related to its offtake agreement.
Source: Valor
Tweet
Related News
- Stay Ahead in Nonferrous and Lightweight. Follow Diecasting & Nonferrous China 2026
- European Foundry Industry in Transition – New Opportunities Through the Defense Sector
- Global pig iron production fell by 4.4% y/y in October
- India sharply increased iron ore imports by more than 200% y/y in January-October
- EU plans to limit exports of aluminium scrap
- Calderys Group celebrates 160 years of innovation and industrial excellence
- Foundries in Transition: Why Humanoid Robots Are Now in Demand
- Iron ore exports from Brazil increased by 5.7% y/y in January-October
- See all News
