Alcoa Corp. agrees to acquire South32 Ltd.’s aluminum-related assets in a deal valued at up to $5.6 billion, according to multiple reports. The acquired portfolio includes bauxite, alumina and aluminum assets located in Australia, Brazil and South Africa. The agreement is designed to strengthen Alcoa’s position among the world’s largest aluminum producers as industry demand for aluminum is expected to grow over the long term. The reports characterize the transaction as a move to secure upstream and downstream capacity across key production regions, combining raw material inputs such as bauxite with refining and aluminum production activities. Details such as the final purchase price structure, timing of closing, and regulatory approvals are not included in the provided excerpts, but the deal value is consistently described as “up to” $5.6 billion. Seeking Alpha’s item repeats the same core announcement—Alcoa’s purchase of aluminum assets from South32 for up to $5.6 billion—without additional specifics in the supplied text.