South32 Limited announce decision to participate in a restart of the Alumar aluminium smelter (Brazil Aluminium), together with joint venture partner Alcoa Corporation (Alcoa). First production is expected in the June 2022 quarter, with full capacity from thesmelter's three potlines of 447ktpa (100%) to be achieved in the March 2023 quarter. Once at full capacity Group wide annualised equity share of aluminium production is expected to lift by 16% (or 179kt) to 1,269kt.

South32's 40% share of Brazil Aluminium will be powered by 100% cost efficient renewable power, placing the smelter in the second quartile of the global aluminium site cost curve. With energy requirements secured under long term contracts, alumina supply will be sourced from the co-located Brazil Alumina refinery(36% South32 share), offering substantial efficiencies. Brazil Aluminium has been on care and maintenance since 2015.

Expect to invest ~USD 70 million (40% South32share) across FY22 and FY23 to support the smelter's restart, including ~USD10 million in capital expenditure.