Alcoa (NYSE:AA) today announced that Alcoa World Alumina LLC has completed its previously announced transaction to acquire BHP Billiton's bauxite and alumina refining interests in Suriname. Terms are not disclosed.
Suriname Aluminum Company LLC (Suralco), a subsidiary of Alcoa World Alumina LLC, and N.V. BHP Billiton Maatschappij Suriname (BMS), a BHP Billiton subsidiary, have been participants in mining and refining joint ventures in Suriname since 1984. BMS had a 45% interest and Suralco a 55% interest in the joint ventures. Prior to the establishment of the joint ventures, BMS had separately conducted mining operations in the country, while Suralco has been active in Suriname for almost 100 years.
Suralco is a part of Alcoa World Alumina and Chemicals (AWAC) a joint venture between Alcoa and Alumina Limited, with Alcoa holding 60 percent.