South32 is selling its aluminium assets to Alcoa in a reported $5.6bn transaction that includes the Hillside aluminium smelter, South Africa’s largest power consumer. Multiple outlets describe the deal as the transfer of ownership for Hillside as Alcoa takes over South32’s aluminium operations.
The timing of the transaction is discussed alongside South Africa’s electricity pricing issues. One report says the acquisition takes place while South32 is involved in ongoing talks with Eskom aimed at agreeing new power pricing arrangements to replace the current contract, which is set to expire in 2031. That power deal is described as controversial, reflecting continuing debate around the cost and terms of electricity supply for energy-intensive industry.
Overall, the reporting frames the sale as a major shift in control of a key aluminium production site, alongside parallel negotiations over the future electricity pricing framework under which the smelter would operate. No source disputes the deal’s stated value or the inclusion of Hillside as part of the assets being transferred.
