Alumina (AWC) is involved in the mining, refining and smelting of aluminium. The company’s primary asset is its 40% interest in Alcoa World Alumina and Chemicals (AWAC).
Together, Alcoa and AWC produce smelter grade alumina feedstock for the production of aluminium, as well as alumina-based chemicals for supply to the alumina chemicals industry.
AWC is listed as a materials stock among the list of sectors on the ASX.
AWC has been one of the top stocks in recent months as rising alumina prices coincide with an industry shift to index based pricing for supply contracts.
On 8 October, AWC received US$41 million in dividends from its AWAC joint venture with US-based, Alcoa.
This follows Alcoa’s third quarter earnings announcement overnight, where a 21% fall in profit was offset by its bullish outlook for aluminium demand.