Tag: $Alcoa

Alcoa has agreed to sell its 25.1% stake in a joint venture with Saudi Arabian Mining, the state-owned mining company better known as Ma’aden, to Ma’aden in a deal valued at about $1.1 billion.

Alcoa expects to swing to a second-quarter profit as higher average third-party prices offset a decrease production and lower alumina shipments.

Alcoa posted a wider loss in the first quarter after lower aluminum prices and higher production costs dented results.

Alcoa offered to buy out an Australian aluminum partner for $2.2 billion, increasing its weight in the global markets for alumina and bauxite—raw materials used for making aluminum.

Alcoa reported better-than-expected fourth-quarter numbers, lifting the aluminum producer’s stock.