To: The Manager
Announcements
Company Announcements Office
Australian Securities Exchange
Alumina Limited notes Alcoa Inc's fourth quarter 2011 earnings announcement.
Alcoa World Alumina & Chemicals' results for the quarter were impacted by lower aluminium and alumina prices and ongoing cost pressures. Alumina Limited CEO, John Bevan, commented, "The impact of the difficult market conditions and some restructuring initiatives on AWAC's quarterly result was partly offset by productivity gains, the transition towards index/spot pricing for smelter grade alumina and the after-tax profit of US$30 million from the sale of land in Australia, which was surplus to requirements".
Alumina Limited also notes that its 40% share of Alcoa World Alumina & Chemicals is included in Alcoa
Inc's reported Net Income Attributable to Non-controlling Interests (Alcoa NCI):
4th Quarter 2011 2011 Year-To-Date
Alcoa NCI Alcoa NCI US$28 million US$194 million
It should be noted that there are other minority interests within the Alcoa NCI. These amounts are unaudited and do not include accounting adjustments for differences between US Generally Accepted Accounting Principles and A-IFRS, and are prior to Alumina Limited's own corporate and finance costs.
Attached to this announcement is a summary of some information relating to the production of alumina. Alcoa World Alumina & Chemicals production of alumina for the fourth quarter was 15.7 million tonnes.
Alumina Limited received dividends of US$231 million for the 2011 year.
Some statements in this public announcement are forward-looking statements within the meaning of the US Private Securities Litigation
Reform Act of 1995. Forward-looking statements also include those containing 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 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; and (e) the other risk factors summarised in Alumina's Form 20-F
for the year ended 31 December 2010.
For investor enquiries: For media enquiries:
John Bevan
Chief Executive Officer Phone: +61 3 8699 2601 john.bevan@aluminalimited.com
Stephen Foster
Company Secretary
10 January 2012
Scott Hinton
Hinton and Associates
Phone: +61 3 9600 1979
Mobile: +61 419 114 057
Alumina Limited
ABN 85 004 820 419
GPO Box 5411
Melbourne Vic 3001
Australia
Level 12 IBM Centre
60 City Road
Southbank Vic 3006
Australia
Tel +61 (0)3 8699 2600
Fax +61 (0)3 8699 2699
Email info@aluminalimited.com
ALUMINA LIMITED INFORMATION PACKThe purpose of this report is to provide relevant AWAC & market information
PRICING(a) LME Linked Contracts
2,600
2,300
2,190
2,122
3 month LME, lagged by 2 months
2,592 2,584
2,554
2,495
2,422
2,328
2,210