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Alcoa on track to grow 3rd-party bauxite sales with US$350M in new supply contracts

said April 6 that subsidiaryAlcoa World Alumina and Chemicals has secured multiple bauxite supply contractsvalued at more than US$350 million over the next two years covering customers inChina, Europe and Brazil.

The companywill supply the product from three of its global mines as it establishes its third-partybauxite business.

"Our strategyis to profitably grow our third-party bauxite sales and these contracts demonstratethat we are well on track," Alcoa President Garret Dixon said in the statement.

The AWAC groupof companies is 60% owned by Alcoa and 40% by Alumina Ltd.