Spun off from Western Mining Corporation in 2002, its sole asset is a 40% shareholding in Alcoa World Alumina & Chemicals.

Alumina was founded in December 2002 when Western Mining Corporation spun off its aluminium and bauxite assets.

AWAC also operates and has interests in Brazil, Guinea, Saudi Arabia and Spain.

[2] In 2016, Alumina Limited achieved great short term authority over its interest in AWAC with more influence over a broader suite of operational and investment decisions.

[4][5] In February 2024, Alcoa announced it would acquire Alumina for $2.2 billion in an all-stock deal.