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Why metals producers are shifting capital out of upstream aluminium

  • South32 (ASX:S32) has agreed to sell its aluminium value chain assets to Alcoa (NYSE:AA) for up to US$5.6 billion.
  • The structural asset reallocation ties the valuations of upstream mining firms directly to base metal production growth.
  • Geopolitical instability and evolving raw supply pipelines remain the primary operational risks facing global smelting networks.
Read more: Why metals producers are shifting capital out of upstream aluminium

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