alumina limited
alumina limited was created on 11 december 2002 when wmc limited’s alumina assets were demerged from the nickel, copper and fertilizer businesses (wmc resources limited) .
alumina limited is a leading australian resource company with a specific focus on alumina, the feedstock for aluminium smelting .
alumina limited represents a unique opportunity for a pure investment in the world' s largest alumina and bauxite producer, awac .
alumina limited intends, as far as practicable, to distribute to shareholders all fully franked dividends received .
alumina limited is one of australia’s top 100 companies, delivering strong returns, consistent performance and ongoing growth .
alumina limited has a small and focused management team. their purpose is to deliver value to shareholders through :
alumina limited (awc) is an australia - based company. awc is engaged in investing in bauxite mining, alumina refining and selected aluminum smelting operations, through its 40% ownership of alcoa world alumina and chemicals (awac) .
awac employs over 5, 000 people to mine and refine bauxite, who produce alumina, market the alumina to the world’s aluminium smelters and process a percentage of this alumina to produce aluminium metal .
the alumina limited board of directors (the board) is ultimately responsible for the overall management of alumina and for formulating and establishing its strategic goals. its aim is to create value for shareholders through the performance of our interest in the
alumina limited is a leading australian company listed on the australian securities exchange (asx) and the over - the - counter (otc) market in the u. s .
* the following information represents dividends paid to shareholders of wmc limited’s pre - demerger businesses, which include results from its then alumina, copper - uranium, nickel and fertilizer operations .
owns and runs a shipping operation that transports alumina, aluminium and raw materials around the world .
we own 40% of the world’s largest alumina business, alcoa world alumina and chemicals (awac) the recognised industry leader. our partner in awac is alcoa, who owns the remaining 60% and manages the day - to - day operations. alcoa is also the world’s largest alumina producer .
the demerger has enabled investors to benefit directly from the full value of the alumina and aluminium business .
our strategy is to invest world - wide in bauxite mining, alumina refining and selected aluminium smelting operations through our 40% ownership of alcoa world alumina & chemicals (awac), the world' s largest alumina business. our partner, alcoa, owns the remaining 60% of awac and is the manager .
mr ferraro is currently a non - executive director of helloworld travel limited (appointed jan 2017) .
ms o’toole has extensive executive experience across a number of sectors including over 20 years in the mining industry and, more recently, in transport and logistics which included managerial, operational and financial roles. she has been chief financial officer in three asx listed companies: mim holdings limited, queensland cotton holdings limited and, most recently, aurizon holdings limited .
chris thiris joined alumina limited in december 2011 as chief financial officer and is responsible for accounting, treasury, investor relations and taxation. mr thiris has extensive experience in finance and other management functions gained through senior roles he has held in other organizations .
non - executive director mr bevan was appointed non - executive director on 1 january 2018. he has been appointed as a member and chair (effective april 2018) of the nomination committee and member of the audit and risk management committee and compensation committee. mr bevan is currently a director of and chairman of bluescope steel limited (march 2014 to date), a director and deputy chairman of ansell limited (august 2012 to date), and a former director of nuplex industries limited (september 2015 – september 2016). mr bevan was formerly the chief executive officer and executive director of alumina limited (2008 - 2014). prior to his 2008 appointment to alumina limited, he spent 29 years in the boc group plc where he was a member of the board of directors and held a variety of senior management positions in australia, korea, thailand, singapore and the united kingdom .
mr zeng is also currently a director of citic pacific limited, chief executive officer of citic pacific mining and chief executive officer of citic mining international, the holding company of citic pacific mining. he is a former director of citic limited (listed on the hong kong exchange), citic dameng (listed on the hong kong exchange), macarthur coal limited (2007 to 2011) and marathon resources limited (resigned 31 january 2014). mr zeng also served as a director on the board of citic group between 2010 and 2011 .
mr day was appointed as a director of alumina limited on 1 january 2014 and was appointed chairman of the board on 1 april 2018. he is a member of the nomination and compensation committees and is chair of the audit and risk committee. mr day is also currently a non - executive director of ansell limited and non - executive chairman of australian office fund and a former director of boart longyear (february 2014 – september 2017), sai global limited (august 2008 - december 2016), federation centres (october 2009 - february 2014) and orbital corporation limited (august 2007 - february 2014). mr day brings extensive experience in resource, finance and manufacturing sectors having held a number of senior positions with bonlac foods, rio tinto, cra, comalco and the australian securities and investment commission. he is a former chief financial officer of amcor limited .
generally, the board intends, on an annual basis, to distribute cash from operations after debt servicing and corporate cost commitments have been met. the board will also consider the capital structure of alumina limited, the capital requirements for the awac business and market conditions. dividends will be fully franked for the forseeable future .
alumina limited' s board consists of five non - executive directors, including the chairman, and one executive director (chief executive officer). the non - executive directors, excluding mr zeng, are members of the company' s audit committee. all non - executive directors are members of the nominations committee and compensation committee .
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forward - looking statements that reference past trends or activities should not be taken as a representation that such trends or activities will necessarily continue in the future. alumina limited does not undertake any obligations to update or revise any forward - looking statements, whether as a result of new information, future events or otherwise. you should not place undue reliance on forward - looking statements, which speak only as of the date of the relevant document .
mr ferraro was appointed chief executive officer effective from 1 june 2017. he has responsibility for the overall management of alumina limited in accordance with the strategy, policies and business processes adopted by the board. prior to his appointment as ceo, mr ferraro was a non - executive director of the company, appointed on 5 february 2014 and was a member of the audit and risk management committee and compensation committee and a former member and chair of the nomination committee .
ms stein was elected as a director of the company on 3 february 2011. ms stein is currently a non - executive director of cleanaway waste management limited (appointed august 2011) and infigen energy limited (appointed september 2017). she is a former non - executive director of programmed maintenance services ltd (appointed june 2010 and resigned october 2017), diversified utilities energy trust (appointed june 2004 and resigned may 2017) and clough limited (appointed july 2008 and resigned december 2013). formerly the uk managing director for french utility gaz de france’s energy retailing operations, ms stein moved to australia in 2003. before joining gaz de france she was uk divisional managing director for british fuels .
forward - looking statements include such words as
anticipate
estimates
,
should
,
will
,
expects
,
plans
or similar expressions. forward - looking statements involve risks and uncertainties that may cause actual outcomes to be materially different from the forward - looking statements. important factors that could cause actual results to differ from the forward - looking statements include: (a) material adverse changes in global economic, alumina or aluminium industry conditions and the markets served by awac; (b) changes in production and development costs and production levels or to sales agreements; (c) changes in laws or regulations or policies; (d) changes in alumina and aluminium prices and currency exchange rates; (e) constraints on the availability of bauxite and (f) the other risk factors summarised in alumina' s latest annual report .
mr foster is responsible for legal, company secretarial, shareholder services, insurance and human resources. mr foster has a wide range of legal and commercial experience gained over 25 years, more recently at village roadshow and wmc limited, after working with the legal firm of arthur robinson & hedderwicks (now allens) .
awac has a global network of mines, refineries in australia, the united states (point comfort refinery fully curtailed in 2016), guinea, suriname (closed january 2017), brazil and spain and also an interest in a smelter in victoria australia. awac is also has a 25. 1% interest in a bauxite mine and alumina refinery joint venture with ma' aden in saudi arabia .
ms o’toole was appointed as a director on 1 december 2017. she has been appointed as a member and chair (appointed effective april 2018) of the audit and risk management committee, and member of the nomination committee and the compensation committee. ms o’toole is a non - executive director of sims metal management limited (appointed november 2014), the asciano rail group of companies operating as pacific national rail, credit union australia ltd (appointed march 2014) and the wesley research institute. she is a former non - executive director of boart longyear limited (appointed 1 october 2014 resigned september 2017), csiro, norfolk group, various companies in the mim and aurizon groups, and government and private sector advisory boards. she has acted as chairperson of the audit committees of csiro, norfolk group and pacific aluminium .
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mr ferraro was appointed as managing director and chief executive officer of the company on 1 june 2017. prior to his appointment as ceo and managing director he was a non - executive director of the company from 5 february 2014 to 31 may 2017. immediately before his appointment as ceo, mr ferraro was partner, client development - asia pacific at herbert smith freehills - a global law firm, and was formerly head of the corporate group at the firm. he was also a member of their executive management team. between 2008 and 2010 mr ferraro was chief legal counsel at bhp billiton ltd. mr ferraro is currently a non - executive director of helloworld travel limited (appointed jan 2017) .
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the awac joint venture was formed in 1994 and our partnership with alcoa dates back to 1961 .
it is a low - cost producer and many of its operations are positioned in the lower - cost quartiles .
ensuring the value of the awac business is understood by the market and reflected in our share price .
owns 40% of awac’s assets in australia (known as alcoa of australia) .
awac has a 25. 1% economic interest in a mine and refinery in saudi arabia .
on 22 february 2018, the directors declared a 2017 final, fully franked dividend of us 9. 3 cents per share. the company paid a us 3. 1 cent dividend for the same period for 2016 .
the record date for eligibility for receiving the dividend is 28 february 2018 and the shares will trade ex - dividend on the asx from 27 february 2018. shares purchased on or after the ex - dividend date do not qualify for the dividend. payment date will be 15 march 2018 .
the directors resolved that the company' s dividend reinvestment plan (drp) is suspended for this dividend payment .
defines the role of the board, its duties and specific responsibilities, responsibilities of the chairman and the delegation of authorities to board committees and the relationship with management .
directors are subject to retirement by rotation. directors may not hold office for a continuous period in excess of three years or past the third annual general meeting following the director' s appointment, whichever is the longer, without submitting for election or re - election .
mr ferraro has considerable experience in the resources sector and has over 30 years of experience in joint ventures, mergers and acquisitions, fund raising, and regulatory issues across a wide range of sectors and countries. he also has considerable experience in the commercial and financing aspects of large transactions gained from a number of years in investment banking as a corporate adviser .
ms stein is chair of the compensation committee since 1 january 2014, current member and former twice chair of the nomination committee (chair from march 2001 to february 2014 and june 2017 to april 2018) and current member and former chair of the audit and risk management committee (chair 28 november 2013 to 31 december 2013) .
as a senior executive, she gained considerable international experience in management and leadership, strategy development and implementation in global industrial, energy and utilities markets. her career included roles in strategic planning (which in turn included asset and company acquisitions, divestments and mergers); operational management in the fuels sectors; and in managing director positions (which involved working with regulators and other industry players as new rules were being set for the emerging competitive uk gas and electricity markets) .
she has over a decade of experience as a listed non - executive director and board committee chair for capital intensive companies spanning resources, oil and gas, energy and related sectors. this has extended her skills in corporate transactions, capital structures, management and markets .
mr chen zeng was appointed as a director of the company on 15 march 2013. he is a member of the audit & risk committee, nomination committee and compensation committee .
before joining citic pacific mining, mr zeng was the vice chairman and ceo of citic resources, a citic group controlled hong kong listed company focused on crude oil production, metal mining and refining, and commodity trading. mr zeng is also the chairman of citic australia. mr zeng has over 27 years of experience in project development, management, and a proven record in leading cross - cultural professionals in the resources sector. he has been working in australia since 1994 and has extensive experience in various industries including aluminium smelting and coal mining .
mr bevan brings to the board extensive commercial and operational experience gained through operating in joint ventures in many parts of the world, particularly asia .
immediately before his appointment as ceo of the company, mr ferraro was partner, client development - asia pacific at herbert smith freehills - a global law firm, and was formerly head of the corporate group at the firm. he was also a member of their executive management team. between 2008 and 2010 mr ferraro was chief legal counsel at bhp billiton ltd .
stephen foster bcom llb (hons) gdipappfin (sec inst) grad. dip. csp acis
andrew wood is responsible for strategy and business development, including market analysis, pursuing strategic investments and developing industry relationships. he has over 20 years’ resources’ experience in commercial and legal roles, mainly at wmc resources ltd and sibelco .
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alumina limited is a public company listed on the australian and new york stock exchanges . it was formed in 2003 in a demerger from western mining corporation , and is one of the top 100 companies on the asx ( by market capitalization ) . alumina 's only business activity is as the owner of a 40 % share in a joint venture with alcoa called alcoa world alumina and chemicals ( awac ) . awac 's business is the mining of bauxite , the extraction of alumina ( aluminium oxide ) and the smelting of pure aluminium . it has about 17 % of the global alumina market . alcoa owns the remaining 60 % of the business and acts as day-to-day manager . in australia , awac trades as alcoa of australia ( aoa ) , which owns two bauxite mines and three refineries ( to extract aluminium oxide from bauxite ) in western australia and owns a smelter ( to extract pure aluminium metal ) and has a controlling interest in another in victoria . awac also has operations or interests in texas , suriname , jamaica , brazil , spain , guinea , and owns alcoa steamship . alumina 's chief executive officer is john bevan and the board is chaired by donald morley . given that the management of alumina 's assets is performed entirely by other companies , their extensive governance structure and regular board meetings have attracted adverse comment . internet publication crikey describe alumina 's board as " corporate australia 's cosiest and most expensive lunch club " . 
alumina limited is a public company listed on the australian and new york stock exchanges. it was formed in 2003 in a demerger from western mining corporation, and is one of the top 100 companies on the asx (by market capitalization). alumina's only business activity is as the owner of a 40% share in a joint venture with alcoa called alcoa world alumina and chemicals (awac). awac's business is the mining of bauxite, the extraction of alumina (aluminium oxide) and the smelting of pure aluminium. it has about 17% of the global alumina market. alcoa owns the remaining 60% of the business and acts as day-to-day manager. in australia, awac trades as alcoa of australia (aoa), which owns two bauxite mines and three refineries (to extract aluminium oxide from bauxite) in western australia and owns a smelter (to extract pure aluminium metal) and has a controlling interest in another in victoria. awac also has operations or interests in texas, suriname, jamaica, brazil, spain, guinea, and owns alcoa steamship. alumina's chief executive officer is john bevan and the board is chaired by donald morley. given that the management of alumina's assets is performed entirely by other companies, their extensive governance structure and regular board meetings have attracted adverse comment. internet publication crikey describe alumina's board as " corporate australia's cosiest and most expensive lunch club ".
alumina limited is a public company listed on the australian and new york stock exchanges. it was formed in 2003 in a demerger from western mining corporation, and is one of the top 100 companies on the asx (by market capitalization). alumina's only business activity is as the owner of a 40% share in a joint venture with alcoa called alcoa world alumina and chemicals (awac). awac's business is the mining of bauxite, the extraction of alumina (aluminium oxide) and the smelting of pure aluminium. it has about 17% of the global alumina market. alcoa owns the remaining 60% of the business and acts as day-to-day manager. in australia, awac trades as alcoa of australia (aoa), which owns two bauxite mines and three refineries (to extract aluminium oxide from bauxite) in western australia and owns a smelter (to extract pure aluminium metal) and has a controlling interest in another in victoria. awac also has operations or interests in texas, suriname, jamaica, brazil, spain, guinea, and owns alcoa steamship. alumina's chief executive officer is john bevan and the board is chaired by donald morley. given that the management of alumina's assets is performed entirely by other companies, their extensive governance structure and regular board meetings have attracted adverse comment. internet publication crikey describe alumina's board as " corporate australia's cosiest and most expensive lunch club ".