Alcoa investment shows the world is investing in Australia

Website search Federal Resources Minister Madeleine King has welcomed Alcoa’s announcement it has entered into an agreement to purchase operations from South 32 including Worsley Alumina in Western Australia. The companies have signed a binding conditional agreement for South 32 to sell Alcoa its aluminium assets for US$5.6 billion. Minister King said the landmark agreement was an unequivocal vote of confidence in the Australian economy and manufacturing capabilities, and an indication of Australia position as the world’s leading investment destination.

Minister King said the deal would strengthen Australia’s onshore processing capabilities, secure supply and support local jobs. “This is a significant moment for our resources sector and shows yet again the how the world is choosing Australia as a growth destination,” Minister King said. “No Government has done more to support the resources sector than the Albanese Labor Government.” The Department of Industry, Science and Resources recognises the First Peoples of this Nation and their ongoing cultural and spiritual connections to the lands, waters, seas, skies, and communities.

We Acknowledge First Nations Peoples as the Traditional Custodians and Lore Keepers of the oldest living culture and pay respects to their Elders past and present. We extend that respect to all First Nations Peoples. Stay informed of the latest ministry list on the Department of the Prime Minister and Cabinet website This website is managed by the Department of Industry, Science and Resources