source : the age
US mining giant Alcoa has bought South32’s bauxite and aluminium assets for more than $8 billion, in a deal announced today to the stock market.
The company will acquire South32’s interests in bauxite mine, alumina refinery and aluminium smelter operations in a cash and stock transaction.
Alcoa president William Oplinger said the deal would strengthen Alcoa’s mine-to-metal platform.
“This is exactly the type of opportunity Alcoa is built to execute,” he said.
Under the agreement, Alcoa will acquire South32’s interests in the Boddington bauxite mine and the Worsley alumina refinery in WA. They will also acquire assets in South Africa, Brazil and Mozambique.
The deal is expected to close early next year, subject to the approval of South32’s shareholders.
Here’s what’s making news across the country and around the world today:
- China’s top diplomat in Australia has launched a remarkable attack on ASIO and other Western intelligence agencies, accusing them of fabricating spying claims against his nation as he issued a sweeping denial that Beijing engages in foreign interference.
- The end of a financial year isn’t just the time to cruise the stocktake sales, it also ushers in several substantial legal and financial changes, some of which you may notice right away in your pay packet.
- The United States Supreme Court has struck down President Donald Trump’s executive order to end birthright citizenship, delivering the biggest legal setback to his presidency since it ruled against his tariff regime earlier this year.
Good morning and welcome to our live news blog for this Wednesday, July 1.
Making headlines today, Western Australia is on track to record more than 200 deaths on the state’s roads across the year for the first time since 2008, prompting urgent calls for a change in driver attitudes.
More than 110 people have died on WA roads between January and June, including a 41-year-old man who lost control of his car in Bullsbrook late Sunday morning, crashing into a tree.
Meanwhile, across the country housing values are dropping, but Perth’s market is still holding strong.
