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Alcoa Corporation (NYSE:AA, ASX: AAI))) ("Alcoa" or the "Company") welcomes the announcement of the United States and Australian governments to advance the development of a gallium plant to be co-located at the Company's Wagerup alumina refinery in Western Australia.
This latest development follows support given for the project from Japan Australia Gallium Associates Pty Ltd ("JAGA"), a joint venture between the Japanese Government and Sojitz Corporation ("Sojitz"), through a Joint Development Agreement ("JDA") with Alcoa announced in August 2025. Following completion of feasibility assessments, Alcoa expects that a joint U.S., Australia and Alcoa special purpose vehicle ("SPV") would enter into the joint venture with JAGA to construct a gallium plant. The plant, which would be operated by Alcoa, would be expected to produce 100 metric tons of gallium annually. Today's announcement confirms support for the gallium joint venture.
Under the terms of the non-binding agreement, the U.S. and Australian governments and Alcoa would provide capital to the SPV and receive gallium offtake in proportion to their interests. Among other purposes, the capital would be used for preparation of final feasibility studies, and the development and construction of the project. Definitive agreements for the gallium joint venture will be prepared among the governments of the United States, Australia and Japan, and Alcoa and Sojitz.
Gallium is naturally present in bauxite, the raw material used in the production of alumina, and can be extracted during the refining process. Gallium is a critical mineral essential to technology, especially the semiconductor industry and defense sectors and is recognized as vital to national security by the United States, Australia and Japan. Globally, gallium production is concentrated from a single source, and market controls have heightened interest in establishing and securing alternate supply chains.
