Alcoa buys South32 assets for $8.1b

By Chloe Coutinho

Wednesday, 1 July 2026

NewsProjects & Operations

Alcoa (ASX: AAI) will acquire South32’s (ASX: S32) aluminium value chain assets for about $8.1b (US$5.6b).

The MOU supports Metallium’s plan to develop a national network of e-waste processing facilities, strategically located near major e-waste collection hubs, rapidly expanding U.S. data centre industrial parks and regional industrial corridors with strong logistics and waste generation.

The Gruyere gold mine (a 50:50 joint venture with Gold Fields) is a tier 1 low-cost and long-life asset with current mine life of more than 10 years.

Golden road ahead for Gruyere

Golden road ahead for Gruyere Gold Road Resources (ASX: GOR) has lifted production to 72,980oz at the Gruyere joint venture in WA for the June 2025 quarter. This follows Gold Fields’ $3.7b takeover bid aimed at consolidating Gruyere. Gold Road anticipates Gruyere’s full year production will be at the lower end of guidance of 325,000-255,000oz. June quarter sales totalled 37,741oz at an average price of $5131/oz with about 2027oz gold doré and bullion on hand for Gold Road.

JL Mag has a market capitalisation of $3.1b and is the world’s number one producer of high-performance rare earth permanent magnets by volume.

JL Mag invests $7m in Hastings

JL Mag invests $7m in Hastings Chinese JL Mag Rare-Earth will own 9.8% of Hastings (ASX: HAS) as well as a seat on its board following a $7m investment in the company. The investment proceeds will be used to advance the Yangibana rare earths project in WA toward production and supplements the $16m previously raised in April 2024. Hastings has already completed the construction of the mine infrastructure for the Yangibana project. The company plans to complete the project debt funding and start construction of its beneficiation plant in Q4 2024. The plant...

The Aerosmith project is adjacent to the Albany-Fraser Orogen, which Catalina says is a setting recognised as favourable for large-scale mineral systems.

Exploration & DiscoveryNews

Catalina expands WA copper-gold exposure

Catalina Resources (ASX: CTN) has entered into a binding option agreement to acquire 100% of BGM Metals, including its exploration licenses in the Eastern Goldfields.

(Image source: Iluka Resources) The agreement sets pricing at the higher of minimum and market-linked prices for each product (neodymium, praseodymium, dysprosium and terbium) to balance risks of price volatility and supply security.

NewsProjects & Operations

Iluka locks in first rare earths customer

Iluka Resources (ASX: ILU) has finalised a binding, multi-year agreement for the supply of magnet rare earth oxides to an unnamed global automotive company.