South32 Shareholders Approve $5.6 Billion Asset Sale, Excludes Mozal

Shareholders of Australia’s South32 have approved the sale of the company’s global aluminium assets to US-based Alcoa Corporation for up to US$5.6 billion, notably excluding Mozambique’s Mozal smelter from the transaction, as reported by Club of Mozambique.

This decision means that while South32 is divesting its broader aluminium portfolio, the Mozal smelter, which has been under care and maintenance since March, remains under South32's ownership and is not part of the Alcoa deal. This exclusion highlights a distinct strategic path for Mozal, separate from South32's global aluminium strategy. The