The governments and industry partners of Australia, Japan and the United States, together with Alcoa Corporation (NYSE: AA; ASX: AAI) (“Alcoa”), announced that they have reached final investment decision for a gallium production plant to be co‑located at Alcoa’s Wagerup alumina refinery in Western Australia.
The gallium plant will be constructed and operated by Alcoa, leveraging the Company’s longstanding experience in alumina refining and advanced mineral processing. The facility will create a new, reliable source of gallium to support partner governments’ efforts to strengthen critical mineral supply chains.
“This final investment decision reflects a shared commitment by governments and industry to strengthen critical mineral supply chains among the partners,” said William F. Oplinger, President and Chief Executive Officer of Alcoa. “The project underscores the strategic importance of Western Australia and the role Alcoa’s operations play in delivering critical materials essential to the global economy.”
Gallium is a critical mineral used in advanced technologies, including semiconductors and defense applications, and global supply is currently highly concentrated. This project represents a collaborative effort to diversify supply and enhance resilience across key industries.
Construction activities are expected to commence following final site preparations. Alcoa’s participation in the joint venture, including its role as construction and operating manager, is not expected to have a material impact on the Company’s financial position or results of operations.
About Alcoa Corporation
Alcoa (NYSE: AA, ASX: AAI) is a global industry leader in alumina and aluminum products with a Vision to build a legacy of excellence for future generations. With a values-based approach that encompasses integrity, operating with excellence, care for people and lead with courage, our Purpose is to Turn Raw Potential into Real Progress. Since developing the process that made aluminum an affordable and vital part of modern life, our talented Alcoans have developed breakthrough innovations and best practices that have led to greater safety, efficiency, sustainability and stronger communities wherever we operate.
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Cautionary Note Regarding Forward-Looking Statements
This press release contains statements that relate to future events and expectations relating to an investment decision and the development of a gallium production plant and the expected impact and as such constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include those containing such words as “aims,” “ambition,” “anticipates,” “believes,” “could,” “develop,” “endeavors,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “outlook,” “plans,” “potential,” “projects,” “reach,” “seeks,” “sees,” “should,” “strive,” “targets,” “will,” “working,” “would,” or other words of similar meaning. All statements by Alcoa Corporation that reflect expectations, assumptions or projections about the future, other than statements of historical fact, are forward-looking statements. Forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties, and changes in circumstances that are difficult to predict. Although Alcoa Corporation believes that the expectations reflected in any forward-looking statements are based on reasonable assumptions, it can give no assurance that these expectations will be attained and it is possible that actual results may differ materially from those indicated by these forward-looking statements due to a variety of risks and uncertainties. Factors which could cause actual results to differ from such forward-looking statements include, but are not limited to, industry, global, economic and other conditions. Additional information concerning factors that could cause actual results to differ materially from those projected in the forward-looking statements is contained in Alcoa Corporation’s filings with the Securities and Exchange Commission. Alcoa Corporation disclaims any obligation to update publicly any forward-looking statements, whether in response to new information, future events or otherwise, except as required by applicable law.
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