Shares To Sell 13 April 2010
Alumina (AWC) is a leading Australian company that invests worldwide in bauxite mining, alumina refining and selected aluminium smelting operations.
In Australian news, AWC has received US$58 million in dividends from its joint venture with parent, US-based Alcoa, in 1Q10 despite Alcoa posting a net loss of US$201 million.
AWC holds a 40% interest in the AWAC JV with Alcoa, which was formed in 1995. AWAC is the world’s largest producer of alumina, accounting for 25% of global production.
AWC said that although alumina prices rose on the back of Chinese demand, costs were also driven up by higher energy prices and a stronger Aussie dollar.
AWC Australian share price has been seesawing since August 2009. Its shares got smashed 5.6% after Alcoa failed to upgrade its earnings forecast.