Chalco, Rio Tinto set up JV for majority stake in Brazilian aluminum producer CBA
2026-01-30 14:47:51 [Print]
On January 30, Aluminum Corporation of China Limited (Chalco) and Rio Tinto International Holdings Limited signed a share purchase agreement with Votorantim S.A. to acquire a majority stake in Companhia Brasileira de Alumínio (CBA).
Under the deal, Chalco's wholly-owned subsidiary, Chalco Hong Kong Limited, will form a joint venture with Rio Tinto International in Brazil to acquire a 68.6% stake in CBA from Votorantim for approximately BRL4.69 billion (about RMB6.29 billion). Chalco will contribute around BRL3.14 billion (about RMB4.21 billion), giving it a 67% interest in the joint venture. Upon completion, CBA will become a controlling subsidiary consolidated into Chalco's financial statements.
Founded in 1941 in Sao Paulo, Brazil, CBA operates a fully integrated aluminum value chain, covering bauxite, alumina, primary aluminum, downstream processing, recycled aluminum, and power supply. The company currently owns three bauxite mines with an annual output of 2 million tonnes, along with annual production capacity of 800,000 tonnes of alumina, 430,000 tonnes of primary aluminum, and downstream processing capacity of 215,000 tonnes, supplying over one-third of Brazil's primary aluminum market.
In 2024, CBA produced 720,000 tonnes of alumina, 364,500 tonnes of low-carbon molten aluminum, and processed around 252,600 tonnes of recycled aluminum.
Under the deal, Chalco's wholly-owned subsidiary, Chalco Hong Kong Limited, will form a joint venture with Rio Tinto International in Brazil to acquire a 68.6% stake in CBA from Votorantim for approximately BRL4.69 billion (about RMB6.29 billion). Chalco will contribute around BRL3.14 billion (about RMB4.21 billion), giving it a 67% interest in the joint venture. Upon completion, CBA will become a controlling subsidiary consolidated into Chalco's financial statements.
Founded in 1941 in Sao Paulo, Brazil, CBA operates a fully integrated aluminum value chain, covering bauxite, alumina, primary aluminum, downstream processing, recycled aluminum, and power supply. The company currently owns three bauxite mines with an annual output of 2 million tonnes, along with annual production capacity of 800,000 tonnes of alumina, 430,000 tonnes of primary aluminum, and downstream processing capacity of 215,000 tonnes, supplying over one-third of Brazil's primary aluminum market.
In 2024, CBA produced 720,000 tonnes of alumina, 364,500 tonnes of low-carbon molten aluminum, and processed around 252,600 tonnes of recycled aluminum.
Aluminum Scrap Foundry Al 93%min, Cu 1.6%min Ex-VAT Delivered China
Unit:RMB/mt
China primary aluminum producers' suspension number statistics by province by month
Unit: pcs
