South32 Ltd has completed the acquisition of an additional 16.6 % shareholding in Mozal Aluminium from MCA Metals Holding GmbH (Mitsubishi).
South32 now has a 63.7 % share in Mozal Aluminium, and the equity share of aluminium production is now around 281,000 t for FY22 and 370,000 t for FY23. Chief executive Graham Kerr said: “Our acquisition of an additional interest in Mozal Aluminium is another major milestone and comes 22 years following the commissioning of the hydro-powered smelter. It further integrates our position along the aluminium value chain with the smelter a major customer of our Worsley Alumina refinery.”
On track to increase production on ‘green’ aluminium
“We are continuing to increase our exposure to metals important to a low carbon future. Following the completion and the progress with the Alumar aluminium smelter restart in Brazil using 100 % renewable power, we remain on track to grow our annualised equity share of green aluminium production by more than 100 % before the end of FY23, taking the group’s total aluminium production next year to 1.230m t.”
South32 is a globally diversified mining and metals company. The company produce commodities including bauxite, alumina, aluminium, copper, silver, lead, zinc, nickel, metallurgical coal and manganese from our operations in Australia, Southern Africa and South America.