Alcoa secures **$1.35 billion** in proceeds from the Ma’aden transaction, combining shares and cash. The deal marks a significant financial milestone for the aluminum producer. Ma’aden, a Saudi Arabian Mining Company, is a key partner in the arrangement.
Alcoa sells its 25.1% stake in the Ma’aden joint venture to Saudi Arabian Mining Company (Ma’aden) for approximately **$1.1 billion**. The transaction marks Alcoa’s full exit from the aluminum-focused partnership in Saudi Arabia. The deal follows a binding agreement announced in September 2024.
Saudi Arabian Mining Company (Ma'aden) and Alcoa’s joint aluminium smelter will surpass its 740,000-tonne annual capacity by 2015. The $10.8 billion facility, the world’s largest vertically integrated aluminium complex, aims to achieve the lowest production costs in Alcoa’s global operations. The project reflects a strategic partnership between Saudi Arabia and the U.S. firm.
Saudi Ma’aden and Alcoa have launched commercial operations at their large-scale aluminium plant. The facility initially faced operational challenges last year, including a shutdown of one of its two smelting lines during startup due to ramp-up issues.
