Aluminium is the metal the modern world is built from twice over: once as the light, corrosion-proof material of aircraft, cars, cans and cables, and again as solid electricity — every tonne of primary metal embodies some 13,000 kilowatt-hours, so the industry's map is really a map of cheap power. World production reached 72.86 million tonnes in 2024 (International Aluminium Institute), roughly 60 per cent of it in China, and this guide profiles the twenty companies that matter most to that map: the integrated giants that run the whole chain from bauxite mine to casthouse, the great smelter companies of the Gulf, Norway, Malaysia and the United States, and the downstream rollers and recyclers whose demand pulls the metal through. For each: who leads it in October 2026, with exact published titles; what it owns; how much metal it makes, with the year and basis stated; what it earned, dated and sourced; and how it is reached — with every field that could not be verified named as a gap rather than filled with a guess.

Three cautions run through the guide, and they are stated rather than buried. First, output figures are not all on one basis — Rio Tinto and South32 report at share, Hydro on controlled entities, Hongqiao by sales volume and capacity — so each cell labels its own basis. Second, three entries are context entries by design: Xinfa and SPIC, Chinese producers of world-ranking scale that publish almost nothing in English, and South32, a diversified miner whose aluminium chain alone would rank it in the world's dozen. Third, Hindalco and its Novelis arm appear as two rows — integrated producer and downstream roller — with the relationship flagged in both entries and their tonnages never added together. Rusal, the largest producer outside China, is verified from its Hong Kong filings and graded honestly where English disclosure runs out.

INTEGRATED PRODUCER (BAUXITE-ALUMINA-SMELTING)

1. ALUMINUM CORPORATION OF CHINA LIMITED (CHALCO) — BEIJING, CHINA

Founded 2001 (incorporated 10 September 2001; aluminium lineage to the 1950s state plants) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Zhang Ruizhong — General Manager (the chief-executive role Chalco publishes; named as General Manager in the board composition published in its 2025 annual report); Chair: He Wenjian — Chairman (Executive Director and Chairman, per the board composition published in Chalco's 2025 annual report); President / COO: Not published — Chalco does not publish a separate President or COO title at listed-company level; CFO: Not verified in the English sources consulted for this edition — stated plainly; Other C-suite: Executive Directors include Mao Shiqing (per the 2025 annual report board list); deputy general managers and the board secretary are published in Chinese filings; Senior leadership: Board (ninth session, as published in the 2025 annual report): Executive Directors He Wenjian (Chairman), Zhang Ruizhong (General Manager) and Mao Shiqing; Non-executive Directors Guo Gang and Jiang Hao; Independent Non-executive Directors Yu Jinsong, Chan Yuen Sau Kelly and Li Xiaobin

Leadership: Board (ninth session, as published in the 2025 annual report): Executive Directors He Wenjian (Chairman), Zhang Ruizhong (General Manager) and Mao Shiqing; Non-executive Directors Guo Gang and Jiang Hao; Independent Non-executive Directors Yu Jinsong, Chan Yuen Sau Kelly and Li Xiaobin

Business: Bauxite mining (domestic and Guinea Boffa); alumina refining including specialty alumina; primary aluminium smelting; aluminium alloy and fabrication products; carbon products; high-purity aluminium and gallium; energy (coal and power); trading and logistics

Customers: Industries as published: construction, transport, power and electrical, packaging, machinery and electronics customers in China and export markets; Chalco also supplies alumina and metal inside the Chinalco group

Scale: Operating revenue RMB 237.066 billion, FY2024, +5.21% year on year; profit attributable to owners RMB 12.40 billion (Chalco 2024 annual results announcement)

Output & smelters: Primary aluminium: a single group production total is not stated in the English results material verified for this edition — see Named Gaps. Industry reporting of Chalco's 2025 results put electrolytic aluminium output at 8.08 Mt in 2025 (+6.2% year on year, implying ≈7.6 Mt in 2024) and alumina output at 17.35 Mt in 2025; first-half 2026 primary aluminium production was reported at 4.02 Mt with alumina at 7.38 Mt (company interim reporting) · Smelters & refineries: Principal assets: Yunnan Aluminium smelters at Wenshan and Honghe (Yunnan, hydropower-based); Baotou Aluminium (Inner Mongolia); Lanzhou Aluminium (Gansu); Shanxi Huaxing and Zhongzhou alumina refineries (Shanxi and Henan); Guangxi Huasheng alumina (Guangxi); Shandong Huayu; Boffa bauxite mine (Guinea)

Footprint: China (operations across more than ten provinces) and Guinea; sales worldwide

Structure: Controlled by Aluminum Corporation of China (Chinalco), the central state-owned enterprise under SASAC, which is the controlling shareholder; listed in Shanghai (601600), Hong Kong (2600) and formerly New York Headquarters: No. 62 Xizhimen North Avenue, Haidian District, Beijing 100082, China (as published)

Website: chalco.com.cn · Contact: Phone: +86 10 8229 8322 (as published in company profile material) · Email: Not published — Chalco routes contact through its website and investor-relations channels; no general email is published

The state champion of the world's largest aluminium industry: the biggest alumina system in the guide and, with Yunnan Aluminium's hydropower smelters consolidated, the producer against which Hongqiao's private-sector rise is measured. Chalco is also a world leader in high-purity aluminium, specialty alumina and gallium, the by-product metal of alumina refining.

CONTEXT: Yunnan Aluminium (Shenzhen-listed) is a Chalco subsidiary and is covered inside this entry, not as a separate row. The output gap is named in the README: the verified English passages of the annual report consulted do not carry one consolidated 2024 production total, so the guide labels the derived figure as derived rather than presenting it as a published total

Sources: Chalco Annual Report 2025 (board composition, chalco.com); Chalco 2024 annual results announcement (revenue RMB 237.066bn, HKEX/chalco.com); Chalco interim 2026 reporting as covered from its HKEX briefing; industry summary of Chalco 2025 results (electrolytic aluminium 8.08 Mt, +6.2%)

2. CHINA HONGQIAO GROUP LIMITED — ZOUPING, BINZHOU, CHINA

Founded 1994 (as Shandong Hongqiao, a textiles business founded by Zhang Shiping; aluminium from 2001; listed company incorporated 2010, HKEX listing March 2011) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Zhang Bo — Chairman and Chief Executive Officer (both titles as published in the 2024 annual report board list); Chair: Zhang Bo — Chairman (see CEO field; the roles are combined); President / COO: Not published — no separate President or COO title is published; executive directors carry vice-president titles (see Other C-suite); CFO: Zhang Ruilian — Vice President and Chief Financial Officer (as published in the 2024 annual report); Other C-suite: Zheng Shuliang — Vice Chairman (executive director); Wong Yuting — Head of Corporate Finance Department (executive director), per the 2024 annual report board list; Senior leadership: The Board as published in Annual Report 2024: four executive directors (Zhang Bo; Zheng Shuliang; Zhang Ruilian; Wong Yuting), four non-executive directors and four independent non-executive directors

Leadership: The Board as published in Annual Report 2024: four executive directors (Zhang Bo; Zheng Shuliang; Zhang Ruilian; Wong Yuting), four non-executive directors and four independent non-executive directors

Business: Bauxite supply (Guinea joint-venture mining and Indonesian and Australian sourcing); alumina refining; primary aluminium smelting sold largely as molten aluminium alloy and alloy ingots; aluminium fabrication (rolled and processed products); captive and related-party power; steam supply

Customers: Industries as published: aluminium fabricators and processors in China — many clustered around its Shandong plants and supplied with molten metal — serving construction, transport (including new-energy vehicles), power, packaging and consumer-goods manufacturers; alumina is also sold to third-party smelters

Scale: Revenue RMB 156,168.7 million, FY2024, +16.9%; net profit attributable to shareholders RMB 22,372.3 million, +95.2% (China Hongqiao Annual Report 2024)

Output & smelters: Primary aluminium alloy products sales volume ≈5.837 Mt, FY2024 (Annual Report 2024); annual primary aluminium production capacity ≈6.46 Mt (company reporting, 2024) — the largest single-company smelting capacity in this guide. Alumina sales volume ≈10.921 Mt, FY2024 · Smelters & refineries: Smelting at Binzhou/Zouping and other Shandong sites and at Wenshan and Honghe in Yunnan (hydropower); alumina refining in Shandong and at PT Well Harvest Winning Alumina Refinery (Kalimantan, Indonesia); bauxite from the SMB-Winning consortium mines in Guinea

Footprint: China (Shandong, Yunnan), Indonesia (alumina) and Guinea (bauxite), with sales concentrated in China

Structure: Listed on the Hong Kong Stock Exchange (1378); controlled by the Zhang family through China Hongqiao Holdings and affiliated Weiqiao group interests, with a public float Headquarters: Principal operations and head office at Zouping, Binzhou, Shandong, China; registered office in the Cayman Islands with a Hong Kong listing office (full street address not published in the English annual report passages consulted)

Website: en.hongqiaochina.com · Contact: Phone: Not published · Email: Not published — contact is routed through the company website and its Hong Kong investor-relations advisers; no general email is published

The private-sector giant that out-built the state sector: Hongqiao's model — huge captive-powered smelters selling molten alloy directly to a surrounding cluster of fabricators, fed by Guinean bauxite and Shandong alumina — set the cost curve for the world industry, and its Yunnan relocation is the largest single shift of smelting capacity to renewable power anywhere in the guide.

Production is carried as sales volume and capacity because those are the figures Hongqiao itself headlines; a production-volume total on the same basis as peers is not published in the annual report passages consulted — named here rather than estimated

Sources: China Hongqiao Group Annual Report 2024 (board list; revenue and profit; sales volumes — en.hongqiaochina.com); China Hongqiao 2024 annual-results presentation (primary aluminium sales ≈5.837 Mt; alumina sales ≈10.921 Mt; bauxite sourcing Guinea 74.1%)

3. UNITED COMPANY RUSAL (UC RUSAL) — MOSCOW, RUSSIA

Founded 2007 (merger of Rusal, SUAL and Glencore's alumina assets creating UC Rusal; predecessor Rusal formed 2000) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Evgenii Nikitin — Chief Executive Officer (General Director), as named in Rusal's annual report and results reporting; Chair: Bernard Zonneveld — Chairman of the Board, as published in Rusal's annual report; President / COO: Not published — Rusal does not publish a President or COO title; operations sit under the CEO and deputy chief executives named in its annual report; CFO: Not verified from an official English source for this edition — stated plainly (see verification grade in Notes); Other C-suite: Deputy chief executives and divisional directors are named in the annual report's management section; the full roster was not re-verified line by line in English sources for this edition — stated plainly; Senior leadership: The Board and management are listed in Rusal's Annual Report 2024 (Hong Kong filing); beyond the Chairman and CEO named above, this guide does not carry individual names it could not re-verify in official English disclosure

Leadership: The Board and management are listed in Rusal's Annual Report 2024 (Hong Kong filing); beyond the Chairman and CEO named above, this guide does not carry individual names it could not re-verify in official English disclosure

Business: Bauxite mining (Guinea, Guyana, Russia); alumina refining (Russia, Ireland, Guinea, Jamaica interests); primary aluminium smelting; aluminium alloys and value-added products (billets, slabs, wire rod, foundry alloys); foil and packaging (Sayana foil); carbon products; hydropower interests through En+ association

Customers: Industries as published: transport (the largest consuming sector in its 2024 reporting), construction, electrical, packaging and consumer durables; sales geography in 2024 spanned Russia/CIS, China and other Asia, and Europe (a reduced share since 2022)

Scale: Revenue US$12.08 billion, FY2024, −1.1%; net profit US$803 million (Rusal FY2024 results, Hong Kong filing; reported by Reuters from the filing)

Output & smelters: Primary aluminium production 3.99 Mt, FY2024, +3.7%; aluminium sales 3.86 Mt, of which value-added products 1.422 Mt (Rusal Annual Report 2024 / FY2024 results filing). Alumina production ≈5.9 Mt and bauxite ≈11 Mt on the same reporting · Smelters & refineries: Smelters: Bratsk, Krasnoyarsk, Irkutsk, Sayanogorsk and Khakas (Siberia), Novokuznetsk, Volgograd, Kandalaksha, Nadvoitsy and the ramping Taishet smelter; alumina refineries at Achinsk, Bogoslovsk, the Urals and Pikalevo (Russia), Aughinish (Ireland) and Friguia (Guinea); bauxite at Kindia and Dian-Dian (Guinea) and in Guyana and Russia

Footprint: Russia, Guinea, Ireland, Jamaica (Windalco interest), Guyana and Kazakhstan (Bogatyr coal interest), with sales offices serving Asia, Europe and the CIS

Structure: International public joint-stock company registered in the Kaliningrad region special administrative district (Russia); listed in Hong Kong (486) and on Moscow Exchange; largest shareholder En+ Group (approximately 57%) Headquarters: 13/2 Nikoloyamskaya Street, Moscow 109240, Russia (head office address as published in Rusal's annual report)

Website: rusal.com · Contact: Phone: Not published in the English sources consulted · Email: Not published — no general email is published in the English sources consulted; contact routes through rusal.com and its Hong Kong listing filings

The largest aluminium producer outside China for most of the past two decades, built on Siberian hydropower and Guinean and Caribbean bauxite, and the guide's clearest case of geopolitics rewriting a metal business: designed for Atlantic markets, it now sells primarily into Asia while remaining a Hong Kong-listed, English-reporting issuer.

VERIFICATION GRADE: B. What CAN be verified from official sources: production, sales, revenue and profit from the Hong Kong-filed Annual Report 2024 and results announcements (English); the Chairman and CEO names from the same filings; plant list and sales geography. What is NOT verified for this edition: a current CFO name and the full deputy-CEO roster in English; any published general phone or email; and post-2024 board changes reported only in Russian-language or wire sources. Nothing in this entry is carried from unsourced profiles, and the grade is stated rather than the gaps being hidden

Sources: UC Rusal Annual Report 2024 (HKEX filing, hkexnews.hk — production 3.99 Mt, sales 3.86 Mt, VAP 1.422 Mt, and the company's own world-producer ranking table); Rusal FY2024 results as reported by Reuters from the Hong Kong filing (revenue US$12.08bn, net profit US$803m)

4. SHANDONG XINFA ALUMINIUM GROUP (XINFA GROUP) — CHIPING, LIAOCHENG, CHINA

Founded 1972 (founded in Chiping, Shandong, by Zhang Xuexin; aluminium and alumina built up from the late 1990s) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Not disclosed in official English-language sources consulted — the group's founder Zhang Xuexin is named as its patriarch in trade and financial-press coverage, but no current CEO title was verified from an official source (verification grade C, see Notes); Chair: Not disclosed in official English-language sources consulted (see CEO field); President / COO: Not published; CFO: Not published; Other C-suite: Not published — Xinfa does not publish a C-suite roster in English; Senior leadership: Not published in English; leadership is exercised through the group's Shandong headquarters and the management of its listed-adjacent operating subsidiaries, none of which publish an English leadership roster that was verified for this edition

Leadership: Not published in English; leadership is exercised through the group's Shandong headquarters and the management of its listed-adjacent operating subsidiaries, none of which publish an English leadership roster that was verified for this edition

Business: Alumina refining; primary aluminium smelting; aluminium fabrication and profiles; captive coal-fired power and heat; bauxite sourcing (including Guinea); carbon products

Customers: Industries as published in Chinese-market coverage: Chinese fabricators and manufacturers in construction, transport, power and packaging; the group publishes no English customer categories — stated plainly

Scale: Not published — Xinfa is unlisted and publishes no audited group revenue in sources consulted; no figure is carried rather than an estimate being printed

Output & smelters: Primary aluminium production 3.7 Mt in 2024 (3.6 Mt in 2023) — carried solely from the world-producer ranking table in UC Rusal's Annual Report 2024, a company-compiled table, and labelled as such; Xinfa itself publishes no production total in English · Smelters & refineries: Smelting at Chiping (Shandong) and Huolinguole (Inner Mongolia, Xinfa's northern base); alumina refining centred on Chiping (including the Huayu alumina operations); captive power stations serving both bases

Footprint: China (Shandong, Inner Mongolia and other provinces), with bauxite interests in Guinea and alumina investment in Indonesia as reported in trade coverage

Structure: Privately held by the Zhang family and group interests; unlisted Headquarters: Chiping District, Liaocheng, Shandong, China (full street address not published in English sources consulted)

Website: Not verified — no official English-language website was verified for this edition; Chinese-language group sites exist but were not relied on · Contact: Phone: Not published · Email: Not published

By the only published ranking this guide can cite, Xinfa is the world's fourth-largest primary producer — bigger than Rio Tinto's aluminium business — yet it is the least publicly documented company of its size in the industry: no listing, no English annual report, no published leadership roster. It is included, graded, precisely because a worldwide guide cannot omit a producer of this scale.

VERIFICATION GRADE: C (context entry). Verified: existence, home base, integrated structure and the 3.7 Mt 2024 production figure as carried in Rusal's Annual Report 2024 ranking table. Not verified: leadership names and titles, revenue, exact plant capacities and any contact details. The founder attribution follows financial-press coverage (Zhang Xuexin) and is labelled as press-sourced, not company-published

Sources: UC Rusal Annual Report 2024, world primary aluminium production ranking table (Xinfa Group 3.7 Mt, 2024); financial-press coverage of the Zhang family aluminium groups (Bloomberg reporting on Zhang Xuexin and Xinfa, 2025–26); Global Energy Monitor project pages for Xinfa's captive power plants (Chiping and Huolinguole)

5. RIO TINTO ALUMINIUM (RIO TINTO GROUP) — LONDON, UNITED KINGDOM

Founded 1873 (Rio Tinto Group; aluminium lineage through Alcan, acquired 2007, and the 1940s Canadian industry) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Simon Trott — Chief Executive, Rio Tinto Group (from 25 August 2025, succeeding Jakob Stausholm; previously Iron Ore Chief Executive); Chair: Dominic Barton — Chair, Rio Tinto Group; President / COO: Not published — Rio Tinto does not use President/COO titles at group level; product groups are led by chief executives (see Senior leadership); CFO: Peter Cunningham — Chief Financial Officer (as published in Rio Tinto's 2024–25 reporting); Other C-suite: Group executives published by Rio Tinto include the Chief Executive, Chief Financial Officer, Chief Legal Officer & External Affairs, Chief People Officer, Chief Commercial Officer and the product-group chief executives; the full roster is published on riotinto.com's executive-committee pages; Senior leadership: Aluminium product-group leadership is headed by its Chief Executive (Jérôme Pécresse held the Aluminium Chief Executive role in the 2025 structure; under the December 2025 restructure aluminium sits in the combined Aluminium & Lithium business). Group Executive Committee names and exact titles are published on riotinto.com

Leadership: Aluminium product-group leadership is headed by its Chief Executive (Jérôme Pécresse held the Aluminium Chief Executive role in the 2025 structure; under the December 2025 restructure aluminium sits in the combined Aluminium & Lithium business). Group Executive Committee names and exact titles are published on riotinto.com

Business: Bauxite mining (Australia, Guinea JV); alumina refining (smelter-grade and specialty); primary aluminium smelting; casthouse and value-added products; aluminium recycling interests; integrated with group copper, iron ore and (from 2025) lithium businesses at group level

Customers: Industries as published: transport and automotive, packaging, construction, electrical and consumer products, sold globally including under the low-carbon and ASI-certified positioning Rio Tinto publishes for its Canadian metal

Scale: Group revenue US$53.7 billion, FY2024 (Rio Tinto annual report). Aluminium segment: segmental revenue ≈US$13.7 billion in FY2024, rising to US$16.1 billion in FY2025 (+18%, Rio Tinto 2025 results), with 2025 aluminium EBITDA of US$4.4 billion

Output & smelters: Aluminium production 3.296 Mt, FY2024, Rio Tinto share, primary only (Rio Tinto fourth-quarter 2024 production results); 3.4 Mt in 2025 on the same basis. Bauxite 58.7 Mt and alumina 7.3 Mt, FY2024 (Rio Tinto share) · Smelters & refineries: Smelters: Arvida (including the AP60 expansion), Alma, Grande-Baie and Laterrière in the Saguenay, Quebec; Kitimat (British Columbia); Boyne Island (Queensland); joint-venture smelters Tomago (Australia), Bell Bay (Tasmania), Tiwai Point (New Zealand), Sohar (Oman) and Alouette (Quebec). Refineries: Queensland Alumina and Yarwun (Australia), Vaudreuil (Quebec), Alumar (Brazil); bauxite at Weipa/Amrun and Gove (Australia) and CBG (Guinea)

Footprint: Canada, Australia, New Zealand, Brazil, Guinea, Oman, Iceland interests historically, and sales worldwide; group HQ London with aluminium centred on Montreal and Brisbane

Structure: Rio Tinto Group: dual-listed Rio Tinto plc (London) and Rio Tinto Limited (Australia) under a dual-listed-company structure; widely held. The aluminium business is a product group of the group, not a separate listing Headquarters: 6 St James's Square, London SW1Y 4AD, United Kingdom (Rio Tinto plc head office, as published); aluminium business centred in Montreal, Canada

Website: riotinto.com · Contact: Phone: +44 (0)20 7781 2000 (London head office, as published) · Email: Not published — Rio Tinto routes contact through riotinto.com contact and media/investor channels; no general email is published

The Atlantic-Pacific integrated model at its most complete: Guinea and Australian bauxite, refineries on three continents, and the Quebec hydropower smelter system — the industry's benchmark low-carbon primary metal — now yoked to lithium in the group's energy-transition portfolio.

Figures are Rio Tinto share unless stated, following the group's own reporting convention; joint-venture smelter output is counted at share, so Rio Tinto's ranking is not directly comparable with 100%-basis reporters — the basis is labelled in the Output field

Sources: Rio Tinto fourth-quarter 2024 production results (aluminium 3,296 kt, Rio Tinto share); Rio Tinto 2025 full-year results materials (Aluminium segmental revenue US$16.1bn, +18%; 2025 aluminium 3.4 Mt); Rio Tinto announcement of Simon Trott's appointment as Chief Executive, 15 July 2025 (effective 25 August 2025); Rio Tinto Capital Markets Day structure announcement, December 2025

6. SPIC ALUMINIUM (STATE POWER INVESTMENT CORPORATION) — BEIJING, CHINA

Founded 2015 (SPIC formed by the merger of China Power Investment Corporation and the State Nuclear Power Technology Corporation; aluminium assets inherited from CPI) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Not disclosed at aluminium-business level in official English sources consulted — SPIC publishes group leadership in Chinese; no aluminium-arm CEO title was verified for this edition (context entry, see Notes); Chair: Not verified from an official English source for this edition — stated plainly; President / COO: Not published; CFO: Not published at aluminium-business level; Other C-suite: Not published in English at aluminium-business level; Senior leadership: Group leadership is published by SPIC in Chinese on its group site; the aluminium portfolio is managed through named subsidiaries (Huanghe Hydropower Development Co. in Qinghai; the Qingtongxia aluminium operation in Ningxia; Huolinguole in Inner Mongolia), whose own leadership rosters were not verified in English for this edition

Leadership: Group leadership is published by SPIC in Chinese on its group site; the aluminium portfolio is managed through named subsidiaries (Huanghe Hydropower Development Co. in Qinghai; the Qingtongxia aluminium operation in Ningxia; Huolinguole in Inner Mongolia), whose own leadership rosters were not verified in English for this edition

Business: Power generation (hydro, coal, nuclear, wind, solar — the group's core); primary aluminium smelting built around that power; alumina interests; bauxite mining in Guinea with an alumina refinery under development

Customers: Industries as published for the aluminium arm in Chinese-market coverage: Chinese fabricators in construction, transport, power and packaging; power customers under the group's generation businesses. No English customer categories are published — stated plainly

Scale: Aluminium-segment revenue not published in English sources consulted. Group scale (power basis, not aluminium revenue): SPIC reported total installed generation capacity exceeding 313 GW by August 2026, with clean energy at 74.85% of the mix (SPIC group reporting)

Output & smelters: Primary aluminium production 2.9 Mt in 2024 (2.7 Mt in 2023) — carried from the world-producer ranking table in UC Rusal's Annual Report 2024, a company-compiled table, and labelled as such; SPIC publishes no aluminium production total in English · Smelters & refineries: Smelters: Huanghe Hydropower's Qinghai operation at Xining; Qingtongxia Aluminium (Ningxia); Huolinguole (Inner Mongolia). Upstream: bauxite mining in Guinea and the 1.2 Mt Guinea alumina refinery agreed in 2025 for completion by end-2027

Footprint: China (Qinghai, Ningxia, Inner Mongolia and group operations in 27 provinces) and Guinea; group projects in more than 40 countries on the power side

Structure: Central state-owned enterprise under SASAC; aluminium held through subsidiaries including SPIC Aluminium Power Investment and Huanghe Hydropower Development Headquarters: Beijing, China (full street address not verified in the English sources consulted)

Website: spic.com.cn · Contact: Phone: Not published in the English sources consulted · Email: Not published in the English sources consulted

Aluminium as a power strategy: alone in this guide, SPIC smelts metal primarily to monetise its own electricity — hydro in Qinghai, coal in Inner Mongolia — which is why a power group, not a metals group, sits sixth in the world primary ranking on the only published table that counts it.

VERIFICATION GRADE: C+ (context entry). Verified: SPIC's group structure and scale from its own reporting; the Guinea bauxite shipments (3.14 Mt, 2023) and the 1.2 Mt Guinea alumina refinery agreement from Guinean government/Reuters reporting; the 2.9 Mt output figure solely from Rusal's ranking table. Not verified: aluminium-arm leadership names, aluminium revenue, and any published contact details in English

Sources: UC Rusal Annual Report 2024, world production ranking table (SPIC 2.9 Mt, 2024); SPIC group reporting on installed capacity (>313 GW, August 2026); Reuters reporting of SPIC's Guinea alumina refinery agreement (January 2025) and 2023 Guinea bauxite shipments of 3.14 Mt

7. EMIRATES GLOBAL ALUMINIUM (EGA) — DUBAI, UNITED ARAB EMIRATES

Founded 2013 (formed by the merger of Dubal and Emal, completed 2014; Jebel Ali production began 1979 as Dubal) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Abdulnasser Bin Kalban — Chief Executive Officer; Chair: Not disclosed in the sources consulted for this edition — EGA publishes its executive team more fully than its board chairmanship; stated plainly; President / COO: Not published — EGA does not publish a President or COO title in the sources consulted; CFO: Pål Kildemo — Chief Financial Officer (as named in EGA's first-half 2025 results release); Other C-suite: EGA publishes executive-committee roles on ega.ae (strategy, operations, commercial and people functions); beyond the CEO and CFO named here, individual titles were not all re-verified for this edition — stated plainly; Senior leadership: Chief Executive Officer Abdulnasser Bin Kalban and Chief Financial Officer Pål Kildemo are the officers named in EGA's published results releases; the wider executive team is published on ega.ae

Leadership: Chief Executive Officer Abdulnasser Bin Kalban and Chief Financial Officer Pål Kildemo are the officers named in EGA's published results releases; the wider executive team is published on ega.ae

Business: Bauxite (Guinea, until the 2025 GAC expropriation); alumina refining (Al Taweelah); primary aluminium smelting and casting — the world's largest 'premium aluminium' (value-added product) producer on its own description; aluminium recycling (UAE, United States, Germany); proprietary smelting technology licensing (DX+ Ultra)

Customers: More than 440 customers in more than 55 countries (2024) across automotive, construction, packaging, electronics and transport; metal is also supplied to the UAE domestic market (about 149,000 tonnes to local customers in first-half 2024 reporting)

Scale: Revenue AED 30.0 billion (≈US$8.2 billion), FY2024 (EGA financial reporting, as published in its first-half 2025 release comparatives: AED 13.98bn H1 + AED 16.05bn H2); net profit AED 2.6 billion (US$715 million), FY2024 (EGA 2024 results)

Output & smelters: Hot metal production a record 2.69 Mt, FY2024; cast metal sales 2.74 Mt, FY2024, of which value-added 'premium aluminium' 82% (EGA 2024 results). Alumina production a record 2.54 Mt, meeting 49% of EGA's alumina needs · Smelters & refineries: Smelters: Al Taweelah (Abu Dhabi) and Jebel Ali (Dubai); Al Taweelah alumina refinery; Al Taweelah recycling plant (170,000 t/yr, from 2026); EGA Spectro Alloys (Minnesota, USA) and EGA Leichtmetall (Hanover, Germany) recycling; Guinea Alumina Corporation bauxite (expropriated 2025 — see History)

Footprint: United Arab Emirates, United States and Germany (operations); Guinea until 2025; customers in more than 55 countries

Structure: Owned equally (50/50) by Mubadala Investment Company (Abu Dhabi) and the Investment Corporation of Dubai; unlisted Headquarters: Emirates Global Aluminium PJSC, P.O. Box 3627, Dubai, United Arab Emirates (as published); principal plants at Jebel Ali (Dubai) and Al Taweelah (Abu Dhabi)

Website: ega.ae · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — EGA publishes media and careers channels on ega.ae; no general email is published

The Gulf model perfected: gas-powered smelting at world scale, four-fifths of output sold as premium value-added cast products rather than commodity ingot, its own smelting technology licensed abroad, and — since the Guinea write-down and the Oklahoma and recycling moves — a deliberate pivot toward recycled and American metal.

EGA reached 50 million tonnes of cast metal produced since 1979 in November 2025 (company announcement). The Guinea expropriation is recorded from EGA's own first-half 2025 release, which states the Guinea subsidiary's value was fully written down following expropriation — the guide reports EGA's characterisation, labelled as such

Sources: EGA full-year 2024 results release (hot metal 2.69 Mt; cast metal sales 2.74 Mt; premium share 82%; net profit AED 2.6bn); EGA first-half 2025 results release (media.ega.ae — revenue comparatives, CFO Pål Kildemo, GAC write-down); EGA 50-million-tonne milestone announcement (November 2025)

8. VEDANTA ALUMINIUM (VEDANTA LIMITED) — MUMBAI, INDIA

Founded 1976 (Vedanta group origins; aluminium business built from the 2001 BALCO stake, with the Jharsuguda smelter commissioned from 2008) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: John Slaven — Chief Executive Officer, Aluminium Business (appointed effective 3 October 2023; former Executive Vice President and Chief Operations Officer of Alcoa). Group: Deshnee Naidoo — Chief Executive Officer, Vedanta Resources (from 20 January 2025); Chair: Anil Agarwal — Chairman, Vedanta Group (Executive Chairman of Vedanta Limited and founder); President / COO: Not published — Vedanta does not publish a President/COO title for the aluminium business; group executive direction sits with Arun Misra, Executive Director, Vedanta Limited (named in its FY2025 results); CFO: Ajay Goel — Chief Financial Officer, Vedanta Limited (named in its FY2025 results); Other C-suite: Group executives are published by Vedanta Limited and Vedanta Resources; the aluminium business is led by its CEO (above) with plant leadership at Jharsuguda, BALCO and Lanjigarh; Senior leadership: Aluminium: John Slaven (CEO, Aluminium Business). Group: Anil Agarwal (Chairman), Deshnee Naidoo (CEO, Vedanta Resources), Ajay Goel (CFO, Vedanta Limited), Arun Misra (Executive Director, Vedanta Limited) — all as named in the companies' own announcements and results

Leadership: Aluminium: John Slaven (CEO, Aluminium Business). Group: Anil Agarwal (Chairman), Deshnee Naidoo (CEO, Vedanta Resources), Ajay Goel (CFO, Vedanta Limited), Arun Misra (Executive Director, Vedanta Limited) — all as named in the companies' own announcements and results

Business: Alumina refining (Lanjigarh); primary aluminium smelting (Jharsuguda and BALCO Korba); value-added products — billets, wire rods, rolled products and primary foundry alloys; captive power. (Bauxite is predominantly sourced from third-party and auction mines in Odisha and Chhattisgarh — Vedanta does not operate a large captive bauxite mine for Lanjigarh, and this guide does not pretend otherwise.)

Customers: Industries as published: automotive, construction, electrical (conductors and cable), packaging, consumer durables and defence/aerospace value-added applications, in India and export markets; Vedanta Aluminium describes itself as supplying more than half of India's aluminium

Scale: Vedanta Limited consolidated revenue US$17.8 billion, FY2025 (year ended 31 March 2025), its highest ever (group basis — all businesses, not aluminium alone); aluminium segment EBITDA US$2,104 million, FY2025 (Vedanta results presentations)

Output & smelters: Aluminium production 2,422 kt, FY2025, a record (Jharsuguda 1,830 kt; BALCO 592 kt); alumina production (Lanjigarh) 1,975 kt, FY2025 (Vedanta Limited Q4/FY2025 results) · Smelters & refineries: Jharsuguda smelter complex (Odisha) — Vedanta's flagship and, on its description, the world's largest single-location smelter; BALCO smelter at Korba (Chhattisgarh); Lanjigarh alumina refinery (Odisha)

Footprint: India (Odisha, Chhattisgarh; group HQ Mumbai), with the wider Vedanta group operating in South Africa, Namibia, Zambia and elsewhere; aluminium sales worldwide

Structure: A business of Vedanta Limited (NSE/BSE listed), itself controlled by Vedanta Resources Limited (Agarwal family interests, approximately 56% of Vedanta Limited); the aluminium demerger into a standalone listed Vedanta Aluminium was in progress through 2025–26 Headquarters: Vedanta Limited, 1st Floor, 'C' Wing, Unit 103, Corporate Avenue, Atul Projects, Chakala, Andheri (East), Mumbai 400093, Maharashtra, India (registered office as published in its results filings); aluminium operations centred at Jharsuguda, Odisha

Website: vedantaaluminium.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — contact routes through vedantaaluminium.com and Vedanta Limited's published investor channels; no general email is published

India's aluminium champion and the emerging-market mirror of the Gulf producers: coal-powered smelting at Jharsuguda's unmatched single-site scale, a refinery built to serve it, and a value-added product push (billets, wire rod, foundry alloys) under an Alcoa-trained chief executive — with the business now being separated as a standalone listing.

Scale is labelled group-basis because Vedanta reports aluminium as a segment, not a company: the aluminium segment's own revenue is not the headline the group publishes, while its segment EBITDA (US$2,104m, FY2025) and production are published and are carried here. The demerger status is stated as in progress on the group's own 2025 announcements

Sources: Vedanta Limited results for Q4 and FY2025 (vedantalimited.com — record aluminium production 2,422 kt; consolidated revenue US$17.8bn; CFO Ajay Goel and Executive Director Arun Misra named); Vedanta Aluminium appointment release for John Slaven (vedantaaluminium.com, effective 3 October 2023); Vedanta Resources appointment of Deshnee Naidoo as CEO (29 January 2025, effective 20 January 2025)

9. ALCOA CORPORATION — PITTSBURGH, UNITED STATES

Founded 1888 (founded in Pittsburgh as the Pittsburgh Reduction Company; renamed Aluminium Company of America in 1907; today's Alcoa Corporation dates from the 2016 split of Alcoa Inc.) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: William F. Oplinger — President and Chief Executive Officer; Chair: Steven W. Williams — Chairman of the Board; President / COO: William F. Oplinger holds the President title jointly with CEO (see CEO field); no separate COO title is currently published — John Slaven, the former Executive Vice President and Chief Operations Officer, left in 2023 to lead Vedanta Aluminium; CFO: Molly S. Beerman — Executive Vice President and Chief Financial Officer; Other C-suite: Executive officers are published on alcoa.com and in Alcoa's proxy filings, including the Chief Commercial Officer and segment leadership for Alumina and Aluminum; beyond the CEO and CFO named here, titles are carried in Alcoa's own leadership pages; Senior leadership: President & CEO William F. Oplinger; EVP & CFO Molly S. Beerman; Chairman Steven W. Williams — with the full executive-officer roster published in Alcoa's annual report and proxy statement

Leadership: President & CEO William F. Oplinger; EVP & CFO Molly S. Beerman; Chairman Steven W. Williams — with the full executive-officer roster published in Alcoa's annual report and proxy statement

Business: Bauxite mining (Western Australia and Brazil); alumina refining (the world's largest third-party alumina producer on its description); primary aluminium smelting and casting, including value-added billet and slab; energy interests. Alcoa does not make rolled products — those sit with Arconic and Howmet, its 2016 separation siblings

Customers: Industries as published: alumina sold to third-party smelters worldwide; aluminium sold as commodity and value-added cast products to transport, construction, electrical, packaging and industrial customers, largely through traders and direct term contracts

Scale: Revenue US$11,895 million, FY2024; net income attributable to Alcoa US$60 million (Alcoa FY2024 results). Revenue rose to US$12,831 million in FY2025 (Alcoa FY2025 results)

Output & smelters: Aluminium production ≈2.2 Mt, FY2024 (Alcoa annual reporting; UC Rusal's Annual Report 2024 ranking table carries Alcoa at 2.2 Mt on the same basis); alumina production ≈9.6–9.8 Mt on Alcoa's reporting for the period, of which a majority is sold to third parties · Smelters & refineries: Smelters: Baie-Comeau, Bécancour (ABI) and Deschambault (Quebec); Fjarðaál (Iceland); Lista and Mosjøen (Norway); San Ciprián (Spain, in joint venture with IGNIS from 2025); Alumar (Brazil, JV); Portland (Victoria, Australia); Warrick (Indiana) and Massena (New York, operations curtailed). Refineries: Pinjarra and Wagerup (Western Australia; Kwinana closed in 2025), Alumar and Poços de Caldas (Brazil), San Ciprián (Spain); bauxite at Huntly (Western Australia) and Juruti (Brazil)

Footprint: Australia, Brazil, Canada, Iceland, Norway, Spain and the United States; sales worldwide

Structure: Public company listed on the New York Stock Exchange (AA); widely held Headquarters: 201 Isabella Street, Suite 500, Pittsburgh, PA 15212, United States (as published by Alcoa)

Website: alcoa.com · Contact: Phone: +1 412-315-2900 (Pittsburgh headquarters, as published by Alcoa) · Email: Not published — Alcoa routes contact through alcoa.com contact and investor channels; no general email is published

The industry's founding name and still its purest large Western upstream play: the biggest merchant alumina business in the world, a smelter fleet spanning Quebec hydropower to Iceland geothermal, and a century of process knowledge — deliberately upstream since 2016, with no rolled-products arm.

The 2026 AliGroup acquisition reference follows Alcoa's own third-quarter 2026 earnings reporting (consideration ≈US$3.1 billion in cash, closing expected H1 2027) and is recorded as announced/pending, not completed. Ma'aden joint-venture interests: the sale to Ma'aden was completed in 2025 on both companies' reporting

Sources: Alcoa fourth-quarter and full-year 2024 and 2025 results (revenue FY2024 US$11,895m; FY2025 US$12,831m); Alcoa third-quarter 2026 earnings reporting (President & CEO William F. Oplinger; EVP & CFO Molly S. Beerman; AliGroup consideration); UC Rusal Annual Report 2024 ranking table (Alcoa 2.2 Mt); alcoa.com leadership and headquarters pages

10. NORSK HYDRO ASA (HYDRO) — OSLO, NORWAY

Founded 1905 (founded as Norsk Hydro-Elektrisk Kvælstofaktieselskab to harness Norwegian hydropower for fertiliser; aluminium from the 1950s–60s, and a pure aluminium-and-energy company since the 2007 oil merger into Statoil/Equinor) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Eivind Kallevik — President and Chief Executive Officer (since May 2024, succeeding Hilde Merete Aasheim); Chair: Rune Bjerke — Chair of the Board (as published in Hydro's annual report); President / COO: Not published — Hydro does not use a COO title at group level; business areas (Bauxite & Alumina, Aluminium Metal, Extrusions, Energy, Recycling) are led by executive vice presidents; CFO: Trond Olaf Christophersen — Executive Vice President and Chief Financial Officer (as published in Hydro's annual report); Other C-suite: Business-area leadership published by Hydro includes Hilde Merete Aasheim (EVP and head of Aluminium Metal — Hydro's former President & CEO) and the heads of Bauxite & Alumina, Extrusions, Energy and Recycling, named on hydro.com's leadership pages; Senior leadership: President & CEO Eivind Kallevik; EVP & CFO Trond Olaf Christophersen; Chair Rune Bjerke; business-area EVPs as published on hydro.com — including Aluminium Metal under Hilde Merete Aasheim

Leadership: President & CEO Eivind Kallevik; EVP & CFO Trond Olaf Christophersen; Chair Rune Bjerke; business-area EVPs as published on hydro.com — including Aluminium Metal under Hilde Merete Aasheim

Business: Bauxite mining (Paragominas, Brazil); alumina refining (Alunorte, Brazil — the world's largest alumina refinery outside China); primary aluminium (Norwegian hydropower smelters and JV shares); casthouse and recycling; extrusions (the world's largest extrusion business); renewable power generation and energy trading

Customers: Industries as published: automotive, construction, packaging, transport, renewable-energy and consumer products, served with Hydro REDUXA low-carbon and Hydro CIRCAL recycled-content brands as well as commodity metal

Scale: Revenue NOK 203.6 billion (≈US$18.9 billion), FY2024 (Hydro Integrated Annual Report 2024); adjusted EBITDA NOK 26,318 million, FY2024

Output & smelters: Primary aluminium production 1,527 kt, FY2024, on Hydro's controlled-entities basis (Integrated Annual Report production table; 1,556 kt in 2025 on the same basis). This excludes Hydro's share of joint-venture smelters (Qatalum 50%, Alouette, Tomago), which Hydro reports separately — the basis difference is why Hydro's figure is not directly comparable with 100%-basis reporters, and no JV tonnage is added here · Smelters & refineries: Primary plants in Norway: Sunndal, Årdal, Karmøy, Høyanger and Husnes; recycling and casthouse network across Europe and North America; Alunorte alumina refinery and Paragominas bauxite mine (Barcarena, Brazil); joint ventures Qatalum (Qatar, 50%), Alouette (Canada) and Tomago (Australia); Extrusions plants in more than 30 countries

Footprint: Operations in more than 40 countries; production concentrated in Norway, Brazil, Germany, the United States and (through JVs) Qatar, Canada and Australia

Structure: Listed on the Oslo Stock Exchange (NHY); the Norwegian state is the largest shareholder (34.3%), with Folketrygdfondet and institutional investors holding most of the balance Headquarters: Drammensveien 260, NO-0283 Oslo, Norway (as published by Hydro)

Website: hydro.com · Contact: Phone: +47 22 53 81 00 (Oslo head office, as published by Hydro) · Email: Not published as a general address — Hydro publishes named investor and media contacts on hydro.com (for example its investor-relations contacts named in its stock-exchange releases); no single general email is published

The renewable-energy aluminium company: hydropower smelting in Norway, the Alunorte–Paragominas upstream chain in Brazil, the industry's best-known low-carbon brands, and a downstream extrusions empire — the only producer in this guide that is simultaneously a top primary producer, a top extruder and a power generator of scale.

Hydro's March 2026 stock-exchange releases on Qatalum (see the Qatalum entry) are the source for that venture's 2026 curtailment. Hydro's reported primary figure is knowingly conservative versus peers because of the controlled-entities basis — the guide keeps the company's own basis and labels it rather than grossing it up

Sources: Norsk Hydro Integrated Annual Report 2024 and 2025 production tables (primary aluminium 1,527 kt in 2024; 1,556 kt in 2025, controlled entities; bauxite 10,506 kt and alumina 5,359 kt in 2024); Hydro Integrated Annual Report 2024 (President & CEO Eivind Kallevik's letter; adjusted EBITDA NOK 26,318m); hydro.com leadership pages

11. HINDALCO INDUSTRIES LIMITED — MUMBAI, INDIA

Founded 1958 (incorporated 15 December 1958 as Hindustan Aluminium Corporation; renamed Hindalco Industries in 1989) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Satish Pai — Managing Director (Hindalco's chief-executive role; the title the company publishes); Chair: Kumar Mangalam Birla — Chairman (Chairman of the Aditya Birla Group and of Hindalco); President / COO: Not published — Hindalco does not publish a President/COO title at group level; its India aluminium upstream and downstream businesses and Novelis each publish their own leadership; CFO: Not disclosed in the sources consulted for this edition — stated plainly rather than a name being carried unverified; Other C-suite: Whole-time directors and business heads are published in Hindalco's integrated annual report; Novelis's executive team is carried in the separate Novelis entry; Senior leadership: Chairman Kumar Mangalam Birla; Managing Director Satish Pai; Novelis President & CEO Steve Fisher (see Novelis entry) — with the full board and business leadership published in Hindalco's Integrated Annual Report 2024-25

Leadership: Chairman Kumar Mangalam Birla; Managing Director Satish Pai; Novelis President & CEO Steve Fisher (see Novelis entry) — with the full board and business leadership published in Hindalco's Integrated Annual Report 2024-25

Business: Bauxite mining (Odisha, Chhattisgarh, Jharkhand, Maharashtra); alumina refining including specialty alumina; primary aluminium smelting; downstream flat-rolled products, extrusions and foil in India; copper smelting and rods (a major second business, outside this guide's aluminium scope but part of Hindalco's reported scale); Novelis rolled products and recycling worldwide (see Novelis entry)

Customers: Industries as published: packaging, automotive and transport, construction, electrical, consumer durables and aerospace (through Novelis), in India and worldwide

Scale: Consolidated revenue from operations ₹238,496 crore, FY2025 (year ended 31 March 2025), a record; consolidated EBITDA ₹35,496 crore (Hindalco FY2025 results). Novelis contributed US$17.1 billion of that revenue (see Novelis entry — the same dollars are not counted twice in this guide's commentary)

Output & smelters: Primary aluminium produced 1.32 Mt, FY2025 (Hindalco Integrated Annual Report 2024-25; primary capacity 1.34 Mt); alumina produced 3.86 Mt including 0.510 Mt specialty alumina; Novelis flat-rolled products produced 3.76 Mt (shipments 3,757 kt — see Novelis entry) · Smelters & refineries: India smelters: Renukoot (Uttar Pradesh), Hirakud (Odisha) and Mahan at Bargawan (Madhya Pradesh); alumina refineries at Renukoot, Belagavi (Karnataka), Muri (Jharkhand) and Utkal (Odisha); Novelis rolling and recycling plants across North America, Europe, Asia and South America (see Novelis entry)

Footprint: India (operations in more than ten states) and, through Novelis, the United States, Canada, Brazil, Germany, Italy, Switzerland, the United Kingdom, South Korea and China

Structure: Listed on NSE and BSE (Mumbai); Aditya Birla Group promoter holding of roughly one-third, with institutional and public shareholders holding the balance; Novelis Inc. is a wholly owned subsidiary Headquarters: Birla Centurion, Pandurang Budhkar Marg, Worli, Mumbai 400 030, Maharashtra, India (registered office, as published)

Website: hindalco.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — contact routes through hindalco.com's published enquiry and investor channels; no general email is published

The only group in this guide that is simultaneously a top-ten primary producer and — through Novelis — the world's largest rolled-products and recycling company: Indian bauxite and coal-powered smelting at one end, beverage-can sheet recycled at 63% recycled content at the other. The Novelis arm is flagged here and profiled separately as a downstream entry; its tonnage is rolled product, not primary metal, and the two are never added together.

HONEST FLAG (as commissioned): Novelis is Hindalco's downstream arm, not an independent producer. It appears as its own row only because this guide's downstream category profiles it in its own right; readers must not sum Hindalco's primary output and Novelis's rolled shipments. Hindalco's reported revenue also includes its copper business

Sources: Hindalco Integrated Annual Report 2024-25 (hindalco.com — primary aluminium produced 1.32 Mt; capacity 1.34 Mt; alumina 3.86 Mt; Novelis FRP 3.76 Mt; Managing Director Satish Pai); Hindalco Q4/FY2025 results release (consolidated revenue ₹238,496 crore; Novelis revenue US$17.1bn, shipments 3,757 kt)

12. SOUTH32 LIMITED (ALUMINIUM AND ALUMINA OPERATIONS) — PERTH, AUSTRALIA

Founded 2015 (demerged from BHP in May 2015, taking BHP's aluminium, alumina, manganese, nickel and South African coal assets) · Integrated producer (bauxite-alumina-smelting)

Leader: CEO: Matthew (Matt) Daley — Chief Executive Officer and Managing Director (from 1 July 2026; joined as Deputy CEO on 2 February 2026, succeeding Graham Kerr, who led South32 from its 2015 demerger and stepped down on 30 June 2026); Chair: Stephen Pearce — Chair (from 1 March 2026, succeeding Karen Wood AM, Chair since 2019); President / COO: Not published as a group COO title in the sources consulted; the Deputy CEO role was held by Matt Daley from February to June 2026 as the published succession bridge; CFO: Not verified from an official source for this edition — stated plainly; Other C-suite: The Lead Team (executives) is published on south32.net; beyond the CEO and Chair successions verified here, individual names are carried in South32's annual report; Senior leadership: Chair Stephen Pearce (from 1 March 2026); CEO & Managing Director Matt Daley (from 1 July 2026); Graham Kerr continues as a Strategic Adviser after stepping down (per Australian Shareholders' Association reporting of South32's FY2026 disclosures)

Leadership: Chair Stephen Pearce (from 1 March 2026); CEO & Managing Director Matt Daley (from 1 July 2026); Graham Kerr continues as a Strategic Adviser after stepping down (per Australian Shareholders' Association reporting of South32's FY2026 disclosures)

Business: Alumina refining (Worsley, Australia; Alumar share, Brazil); primary aluminium (Hillside, South Africa; Mozal, Mozambique; Alumar smelter share, Brazil); outside aluminium: copper (Sierra Gorda), zinc-lead-silver (Cannington, Hermosa), manganese ore and alloys

Customers: Industries as published: alumina sold to third-party smelters; aluminium sold into regional fabrication markets (Hillside supplies South African and export customers; Mozal likewise in southern Africa and Europe); no customer list is published — categories only

Scale: Group revenue US$7,610 million, FY2025 (year ended 30 June 2025; South32 Appendix 4E and 2025 financial results — group basis, all commodities). Aluminium and alumina operations (Worsley US$1,917m; Brazil Alumina US$749m; Brazil Aluminium US$355m; Hillside US$1,989m; Mozal US$979m underlying revenue) are the group's largest block

Output & smelters: Aluminium production, South32 share, FY2025: Hillside 718 kt (100% basis) + Mozal 355 kt (63.7% share) + Brazil Aluminium (Alumar) 138 kt (40% share) = ≈1.21 Mt attributable (South32 June 2025 quarterly report). Alumina production, share basis: Worsley 3,727 kt + Brazil Alumina 1,340 kt · Smelters & refineries: Hillside Aluminium smelter, Richards Bay, South Africa (720 kt/yr class, 100% owned); Mozal Aluminium smelter, Maputo, Mozambique (63.7%); Alumar smelter share, São Luís, Brazil (40%, non-operated); Worsley Alumina refinery, Western Australia (86%); Alumar alumina refinery share, Brazil (36%)

Footprint: Australia, South Africa, Mozambique, Brazil, Chile, the United States and Colombia (divesting), with HQ in Perth

Structure: Listed on the ASX (primary), LSE and JSE (S32); widely held since the BHP demerger Headquarters: Level 35, 108 St Georges Terrace, Perth, Western Australia 6000, Australia (as published by South32)

Website: south32.net · Contact: Phone: +61 8 9324 9000 (Perth head office, as published by South32) · Email: Not published — contact routes through south32.net's published channels; no general email is published

A diversified miner in this guide for one reason: on an attributable basis its alumina and aluminium chain — Worsley's tier-one refinery, Hillside's scale and Mozal — would rank it among the world's dozen largest aluminium producers, even though aluminium is only part of its portfolio. Its entry is labelled context for exactly that reason.

CONTEXT ENTRY (as commissioned): South32 is a diversified miner, not a pure aluminium company; group revenue is labelled as such and the aluminium/alumina segment revenues are given separately. Mozal's electricity-supply position beyond March 2026 was unresolved at the FY2025 reporting cited; an impairment was recognised with the FY2025 results (South32 June 2025 quarterly report)

Sources: South32 Quarterly Report June 2025 (production: Hillside 718 kt, Mozal 355 kt, Brazil Aluminium 138 kt, Worsley alumina 3,727 kt, FY2025; Mozal electricity engagement and impairment note); South32 Appendix 4E and 2025 Financial Results (underlying revenue by operation; group US$7,610m); South32 chair succession RNS, 23 October 2025 and 2 March 2026 (Stephen Pearce from 1 March 2026); Australian Shareholders' Association FY2026 voting report (Graham Kerr stepped down 30 June 2026; Matt Daley CEO & Managing Director from 1 July 2026)

SMELTER-PRIMARY

13. ALUMINIUM BAHRAIN B.S.C. (ALBA) — ASKAR, BAHRAIN

Founded 1968 (incorporated; the smelter — the first in the Middle East — started up in 1971) · Smelter-primary

Leader: CEO: Ali Al Baqali — Chief Executive Officer; Chair: Khalid Al Rumaihi — Chairman of the Board of Directors; President / COO: Not published — Alba does not publish a President/COO title in the sources consulted; its chief operating functions sit under the CEO and the executive team named on albasmelter.com; CFO: Not disclosed in the sources consulted for this edition — stated plainly; Other C-suite: Alba publishes its executive management team on albasmelter.com; beyond the Chairman and CEO verified in its results releases, individual titles are carried on the company's site; Senior leadership: Chairman Khalid Al Rumaihi and Chief Executive Officer Ali Al Baqali, as named in Alba's published quarterly results releases through 2025

Leadership: Chairman Khalid Al Rumaihi and Chief Executive Officer Ali Al Baqali, as named in Alba's published quarterly results releases through 2025

Business: Primary aluminium smelting (it buys alumina on the world market — Alba has no refinery); casthouse products: value-added products were 76% of sales in third-quarter 2025 reporting (billets, rolling slab, foundry alloys, wire rod and T-ingot); captive gas-fired power; calcined petroleum coke plant; low-carbon EternAl brand

Customers: Industries as published: construction, automotive, packaging, electrical and consumer products, with more than half of sales exported — to the Middle East, Europe, the Americas and Asia — and the balance supplying Bahrain's downstream cluster (including GARMCO and Balexco)

Scale: Revenue BD 1.74 billion, FY2024 (Alba full-year 2024 financial results); profit rose 56% year on year in FY2024 (Alba's results release of 18 February 2025)

Output & smelters: Net finished production 1,622,261 tonnes, FY2024 (Alba's published target reporting for 2025 was to exceed that figure); nameplate capacity plus-1.62 Mt per annum · Smelters & refineries: One integrated site at Askar, Bahrain: reduction Lines 1–6 (Line 6 the newest), casthouses, captive power stations and a calcined coke and seawater desalination complex; a feasibility study for a New Replacement Line for Lines 1–3 was approved for bankable stage in November 2025 (Alba Q3 2025 results)

Footprint: Bahrain (single production site); sales offices and customers across the Middle East, Europe, Asia and the Americas

Structure: Listed on Bahrain Bourse and (GDRs) the London Stock Exchange (ALBH); majority owned by Bahrain Mumtalakat Holding Company (approximately 69.4%), with Ma'aden holding the former SABIC stake of 20.62% from 2025 and a public float of approximately 10% Headquarters: Aluminium Bahrain B.S.C., P.O. Box 570, Manama, Kingdom of Bahrain; plant and head office on King Hamad Highway, Askar, Bahrain (as published)

Website: albasmelter.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — contact routes through albasmelter.com's published channels; no general email is published

The original Gulf smelter and still the purest single-site story in the guide: one island, one plant, six potlines, more than 1.6 million tonnes — and, with Ma'aden now on its register, the western anchor of a possible Gulf aluminium consolidation.

Alba is classified smelter-primary, not integrated: it operates no bauxite mine or alumina refinery and purchases alumina — the classification follows the guide's own schema, and the point is stated rather than Alba being dressed as integrated. The Ma'aden stake purchase (completed 2025) is sourced from Ma'aden's own earnings reporting

Sources: Alba full-year 2024 financial results release, 18 February 2025 (albasmelter.com — net finished production 1,622,261 MT in 2024; profit +56%); Alba Q3 2025 results (Investegate/RNS — Chairman Khalid Al Rumaihi; CEO Ali Al Baqali; plus-1.62 mtpa description; value-added sales 76%); Ma'aden 2025 earnings reporting (completion of the acquisition of SABIC's stake in Alba)

14. PRESS METAL ALUMINIUM HOLDINGS BERHAD — SHAH ALAM, MALAYSIA

Founded 1986 (founded in Malaysia by the Koon family as an extrusion business; smelting from 2007 at Mukah, Sarawak) · Smelter-primary

Leader: CEO: Tan Sri Paul Koon Poh Keong — Group Chief Executive Officer (co-founder; the title and name as published in Press Metal's results announcements); Chair: Not verified from an official source for this edition — stated plainly; President / COO: Not published — Press Metal does not publish a President/COO title in the sources consulted; CFO: Not disclosed in the sources consulted for this edition — stated plainly; Other C-suite: Executive directors from the Koon family and professional managers are published in Press Metal's annual report; beyond the Group CEO verified in its results releases, individual titles are carried in that report; Senior leadership: Group Chief Executive Officer Tan Sri Paul Koon Poh Keong, named in Press Metal's FY2024 results announcement; the board and management team are published in the company's annual report

Leadership: Group Chief Executive Officer Tan Sri Paul Koon Poh Keong, named in Press Metal's FY2024 results announcement; the board and management team are published in the company's annual report

Business: Primary aluminium smelting (Sarawak); aluminium extrusion (Malaysia, China, United Kingdom); alumina refining interests through Indonesian associates and joint ventures; trading of aluminium products. Value-added products were about 50% of smelting sales volume in third-quarter 2024 reporting (wire rods and billets)

Customers: Industries as published: construction, automotive and electric vehicles, solar and renewable energy, electrical and consumer products, across Asia and Europe; direct exposure to the United States market described by the company as minimal (FY2024 results commentary)

Scale: Revenue RM 14.91 billion, FY2024, a record, +8%; net profit RM 1.76 billion, +44.9% (Press Metal FY2024 results, announced 26 February 2025)

Output & smelters: Production volume is not published as a single group figure in the sources consulted — stated plainly. Nameplate smelting capacity ≈1.08 Mt per annum across Mukah (120,000 t) and Samalaju Phases 1–3 (960,000 t), Sarawak (company-published capacity), which is the figure carried for ranking; a fire at the Samalaju Phase 3 plant in September 2024 temporarily reduced operating capacity (company reporting) · Smelters & refineries: Mukah smelter (Sarawak); Samalaju smelter Phases 1–3, Bintulu (Sarawak); extrusion plants in Malaysia (Kappar and Klang Valley), China and the United Kingdom; alumina: PT Bintan Alumina Indonesia (associate, Bintan Island) and the PT Kalimantan Alumina Nusantara joint-venture refinery (West Kalimantan, in development)

Footprint: Malaysia (Peninsular HQ and Sarawak smelting), Indonesia (alumina), China and the United Kingdom (extrusion); sales across Asia and Europe

Structure: Listed on Bursa Malaysia (8869 / PMETAL); controlled by the founding Koon family, with institutional and public shareholders Headquarters: Setia Avenue, No. 2, Jalan Setia Prima S U13/S, Setia Alam, Seksyen U13, 40170 Shah Alam, Selangor, Malaysia (corporate office as published by the company)

Website: pressmetal.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — contact routes through pressmetal.com's published channels; no general email is published

Southeast Asia's aluminium champion and the hydropower model in a coal-heavy region: Sarawak's dams give Press Metal low-carbon metal for export markets that are beginning to price carbon (including under the EU's carbon border mechanism), while its Indonesian alumina ventures close the integration loop most smelters leave open.

Ranked on published nameplate capacity because the company headlines capacity, not a production total; the September 2024 Samalaju fire and its temporary capacity effect are recorded from the company's own results commentary rather than any adjusted figure being invented

Sources: Press Metal FY2024 results coverage from the company's Bursa Malaysia announcement (revenue RM 14.91bn; net profit RM 1.76bn; Group CEO Tan Sri Paul Koon Poh Keong's statement, February 2025); Press Metal 9MFY24 reporting (value-added share ≈50%; PT Kalimantan Alumina Nusantara JV covering >75% of alumina needs; Samalaju Phase 3 fire, September 2024); pressmetal.com (smelter locations and capacities)

15. MA'ADEN ALUMINIUM (SAUDI ARABIAN MINING COMPANY — MA'ADEN) — RIYADH, SAUDI ARABIA

Founded 1997 (Ma'aden established by royal decree as Saudi Arabia's mining champion; aluminium complex at Ras Al Khair built with Alcoa from 2009, first metal 2013) · Smelter-primary

Leader: CEO: Robert (Bob) Wilt — Chief Executive Officer, Ma'aden (group CEO; the aluminium business is one of Ma'aden's business units); Chair: H.E. Yasir Othman Al-Rumayyan — Chairman of the Board, Ma'aden (Governor of the Public Investment Fund); President / COO: Not published — Ma'aden does not publish a President/COO title in the sources consulted; business units are led by presidents named in its annual report; CFO: Not disclosed in the sources consulted for this edition — stated plainly; Other C-suite: Ma'aden's executive team is published on maaden.com and in its annual report; beyond the CEO and Chairman verified here, individual titles are carried in those sources; Senior leadership: Chairman Yasir Othman Al-Rumayyan; Chief Executive Officer Bob Wilt (named across Ma'aden's 2024–25 results releases); aluminium business-unit leadership published in Ma'aden's annual report

Leadership: Chairman Yasir Othman Al-Rumayyan; Chief Executive Officer Bob Wilt (named across Ma'aden's 2024–25 results releases); aluminium business-unit leadership published in Ma'aden's annual report

Business: Bauxite mining (Al Ba'itha); alumina refining (Ras Al Khair); primary aluminium smelting; flat-rolled products (can sheet and automotive sheet from Ma'aden Rolling Company); group-wide: phosphates, gold, base metals and exploration

Customers: Industries as published: beverage-can and packaging manufacturers (rolling-mill can sheet), automotive, construction and regional fabricators; Ma'aden's products are exported to more than 50 countries (group description)

Scale: Ma'aden group revenue SAR 32.5 billion (US$8.7 billion), FY2024 (Ma'aden's own results reporting — group basis, all commodities). Aluminium business-unit revenue US$2,930 million in FY2025 against US$2,682 million in FY2024 (Ma'aden Q4/FY2025 results presentation)

Output & smelters: Aluminium production 986 kt, FY2024, rising to 999 kt in FY2025; alumina production 1,871 kt, FY2024 (1,891 kt in FY2025); flat-rolled production additional (FY2025 guidance range 250–310 kt) — all from Ma'aden's Q4/FY2025 results presentation, a company source · Smelters & refineries: Ras Al Khair industrial city complex (Eastern Province): Ma'aden Aluminium smelter, Ma'aden Bauxite and Alumina refinery, and Ma'aden Rolling Company mill, fed by rail from the Al Ba'itha bauxite mine (Qassim Province); a new aluminium recycling plant at Ras Al Khair is in development

Footprint: Saudi Arabia (Riyadh HQ; Ras Al Khair; Al Ba'itha; phosphate and gold operations kingdom-wide); a shareholding in Alba, Bahrain (20.62%, from 2025); exports to more than 50 countries

Structure: Ma'aden is listed on the Saudi Exchange (Tadawul, 1211) and majority owned by the Public Investment Fund (PIF, approximately two-thirds); the aluminium business is held through Ma'aden Aluminium Company, Ma'aden Bauxite and Alumina Company and Ma'aden Rolling Company, wholly owned following the 2025 Alcoa buyout Headquarters: Ma'aden Headquarters, P.O. Box 68861, Riyadh 11537, Kingdom of Saudi Arabia (as published); aluminium complex at Ras Al Khair Industrial City

Website: maaden.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: invest@maaden.com (investor-relations email published in Ma'aden's own earnings releases — the only published general email carried in this guide)

Vision 2030 in metal: a kingdom building an entire aluminium value chain — mine, rail, refinery, smelter, rolling mill — from greenfield desert, then in a single year (2025) buying out its American partner at home and buying into Bahrain's Alba abroad. No other entry in this guide changed its shape so completely in the period covered.

Classification note (stated, not hidden): Ma'aden's aluminium chain is physically integrated (bauxite–alumina–smelting–rolling), but the profiled entity is a business unit of a diversified listed miner, so the guide places it in smelter-primary alongside the other non-pure-play producers and explains the chain in full in Business lines and Smelters. Alba is profiled separately; Ma'aden's 20.62% Alba stake does not add Alba's tonnage to Ma'aden's output here

Sources: Ma'aden Q4-FY2025 results presentation (9 March 2026 — aluminium production FY2024 986 kt / FY2025 999 kt; alumina 1,871/1,891 kt; aluminium revenue US$2,682m/US$2,930m); Ma'aden earnings releases 2025 (group revenue SAR 32.5bn/US$8.7bn for 2024; completion of the Alcoa aluminium-JV acquisition and of the SABIC Alba-stake acquisition; invest@maaden.com published); Ma'aden results commentary (CEO Bob Wilt)

16. QATAR ALUMINIUM LIMITED (QATALUM) — MESAIEED, QATAR

Founded 2006 (joint venture established by Qatar Petroleum, now QatarEnergy, and Norsk Hydro; plant inaugurated at Mesaieed in 2010) · Smelter-primary

Leader: CEO: Not verified from an official source for this edition — Qatalum does not headline a CEO in the Hydro or QAMCO English releases consulted, and no name is carried unverified (see Notes); Chair: Not verified from an official source for this edition — stated plainly; President / COO: Not published; CFO: Not published; Other C-suite: Not published in the sources consulted; Qatalum's management is drawn from its two shareholders; Senior leadership: Not carried at individual level: governance sits with the Qatalum board appointed equally by QAMCO and Hydro. Hydro's published investor and media contacts for Qatalum matters are named in its stock-exchange releases (investor contacts Elitsa Blessi and Baard Erik Haugen; media contact Halvor Molland — Hydro officers, not Qatalum officers, and labelled as such)

Leadership: Not carried at individual level: governance sits with the Qatalum board appointed equally by QAMCO and Hydro. Hydro's published investor and media contacts for Qatalum matters are named in its stock-exchange releases (investor contacts Elitsa Blessi and Baard Erik Haugen; media contact Halvor Molland — Hydro officers, not Qatalum officers, and labelled as such)

Business: Primary aluminium smelting with integrated casthouse (extrusion billets, foundry alloys and slab), carbon anode plant and dedicated gas-fired power plant; alumina is imported — Qatalum has no refinery or mine

Customers: Industries as published by its shareholders: construction, automotive and general engineering fabricators, historically marketed worldwide by Hydro and, from 2026, marketed by Qatar Aluminium during the transition described in History

Scale: Standalone revenue not published — Qatalum is an unlisted joint venture. Shareholder-basis figure: Qatalum generated adjusted net income of NOK 1.3 billion (≈US$134 million) on a 50% basis in 2025 (Norsk Hydro stock-exchange release, March 2026)

Output & smelters: Nameplate primary aluminium capacity 648,000 tonnes per annum; casthouse capacity 687,000 tonnes (Hydro's published figures). Actual 2024 production is not published as a venture total in the sources consulted; in March 2026 production was being maintained at around 60% of capacity following the gas-supply curtailment (Hydro release) — both facts stated rather than a production figure being estimated · Smelters & refineries: Single integrated site at Mesaieed Industrial City, Qatar: smelter, casthouse, carbon plant and captive gas-fired power station

Footprint: Qatar (single site); sales historically worldwide through Hydro's marketing, transitioning to Qatar Aluminium marketing in 2026

Structure: Joint venture owned 50% by Qatar Aluminium Manufacturing Company Q.P.S.C. (QAMCO, listed in Doha; QatarEnergy holds 51% of QAMCO) and 50% by Norsk Hydro ASA; unlisted as a venture Headquarters: Qatalum, Mesaieed Industrial City, P.O. Box 23086, Doha, Qatar (plant and head office at Mesaieed, as published)

Website: qatalum.com · Contact: Phone: Not published in the sources consulted · Email: Not published — no general email was verified from an official source for this edition

The Gulf joint-venture model in its purest form — Qatari gas and capital, Norwegian technology and marketing — and, in 2026, the guide's most exposed entry: a smelter whose feedstock gas, marketing contract and operating rate were all disrupted within a single year, documented here from its shareholders' own releases.

VERIFICATION GRADE: B− for operations and ownership (shareholder releases are precise on capacity, the 2026 curtailment and venture economics) and C for leadership (no CEO or chair name verified from an official source — none is printed). The 2026 events are recorded strictly as Hydro and QAMCO stated them at the time; the position may have developed after those releases

Sources: Norsk Hydro stock-exchange releases, March 2026 (Qatalum capacity 648 kt primary / 687 kt casthouse; controlled shutdown; production maintained at around 60%; 2025 adjusted net income NOK 1.3bn on a 50% basis); QAMCO statement on termination of the Hydro marketing partnership, June 2026 (as reported by Shanghai Metals Market); Hydro/QAMCO joint-venture descriptions (50/50 ownership)

17. CENTURY ALUMINUM COMPANY — CHICAGO, UNITED STATES

Founded 1986 (origins within Glencore's aluminium interests; an independent listed company since the 1990s) · Smelter-primary

Leader: CEO: Jesse E. Gary — President and Chief Executive Officer; Chair: Andrew G. Michelmore — Chairman of the Board; President / COO: Jesse E. Gary holds the President title jointly with CEO (see CEO field); operations leadership below the CEO is published in Century's annual report; CFO: Gerald C. Bialek — Executive Vice President and Chief Financial Officer (as published in Century's annual reporting); Other C-suite: Executive officers are published in Century's Form 10-K and proxy filings, including its general counsel and the leadership of its Icelandic operations (Norðurál); Senior leadership: President & CEO Jesse E. Gary; Chairman Andrew G. Michelmore; EVP & CFO Gerald C. Bialek — with the full officer roster in Century's SEC filings

Leadership: President & CEO Jesse E. Gary; Chairman Andrew G. Michelmore; EVP & CFO Gerald C. Bialek — with the full officer roster in Century's SEC filings

Business: Primary aluminium smelting (standard-grade and value-added billet, slab and foundry products); carbon anode production (Vlissingen, Netherlands); alumina refining interest (Jamalco, Jamaica, majority owned from 2023); no bauxite mining of its own in the United States (Jamalco includes bauxite mining in Jamaica)

Customers: Industries as published: transport, construction, electrical and consumer products, sold in North America and Europe, substantially through Glencore's marketing channels and direct contracts as described in its filings

Scale: Net sales US$2.2 billion, FY2024; net income attributable to Century stockholders US$339.4 million, including a US$92.6 million Section 45X production tax credit (Century Aluminum FY2024 results)

Output & smelters: Primary aluminium shipments ≈0.68 Mt, FY2024 (sum of the quarterly shipment figures in Century's published 2024 results releases — shipments, not production, and labelled as such); operating smelting capacity is concentrated at Sebree, Mt. Holly and Grundartangi, with Hawesville curtailed · Smelters & refineries: Sebree (Kentucky) and Mt. Holly (South Carolina, 55% JV interest) in the United States; Hawesville (Kentucky, curtailed since 2022); Grundartangi — Norðurál (Iceland); Jamalco alumina refinery and bauxite operation (Jamaica); Vlissingen carbon plant (Netherlands)

Footprint: United States, Iceland, Jamaica and the Netherlands; sales in North America and Europe

Structure: Listed on NASDAQ (CENX); Glencore is the largest shareholder (approximately two-fifths of the shares) and a significant commercial counterparty (alumina supply and metal marketing) Headquarters: One South Wacker Drive, Suite 850, Chicago, IL 60606, United States (as published in Century's filings)

Website: centuryaluminum.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — contact routes through centuryaluminum.com's published investor channels; no general email is published

American primary aluminium's standard-bearer: the last large US-headquartered smelter company, kept competitive by Icelandic renewable power, Kentucky coal-country plants, the Section 45X critical-minerals production credit — and now, with EGA, the project that would restart US smelter construction after a 45-year gap.

The EGA–Century Oklahoma smelter is recorded as announced (January 2026) with Century at a 40% interest, following reporting of the joint announcement; it is a project, not operating capacity, and no tonnage from it is counted in this entry's output

Sources: Century Aluminum fourth-quarter and full-year 2024 results (net sales US$2.2bn; net income US$339.4m; Section 45X credit US$92.6m; DOE US$500m smelter grant selection); Century Aluminum quarterly 2024 results releases (primary aluminium shipments by quarter, US and Iceland); reporting of the Century–EGA Oklahoma smelter announcement, January 2026

DOWNSTREAM & ROLLED CONTEXT

18. NOVELIS INC. — ATLANTA, UNITED STATES

Founded 2005 (spun off from Alcan on 6 January 2005; acquired by Hindalco in 2007) · Downstream & rolled context

Leader: CEO: Steve Fisher — President and Chief Executive Officer; Chair: Not disclosed as a separate chairman role in the sources consulted — Novelis is governed as a Hindalco subsidiary whose board is appointed by its parent; stated plainly; President / COO: Steve Fisher holds the President title jointly with CEO (see CEO field); no separate COO title is published in the sources consulted; CFO: Devinder (Dev) Ahuja — Executive Vice President and Chief Financial Officer; Other C-suite: Executive leadership is published on novelis.com, including the presidents of its four regions (North America, Europe, Asia and South America) and its chief sustainability and supply-chain officers; Senior leadership: President & CEO Steve Fisher; EVP & CFO Dev Ahuja; regional presidents and functional executives as published on novelis.com

Leadership: President & CEO Steve Fisher; EVP & CFO Dev Ahuja; regional presidents and functional executives as published on novelis.com

Business: Flat-rolled aluminium products: beverage-packaging (can) sheet — its largest market; automotive sheet and structures; aerospace plate; specialties (building, electronics, foil and industrial); recycling on a closed-loop basis with customers (the world's largest aluminium recycler on its description; 63% average recycled content in FY2025). Novelis smelts no primary aluminium of consequence and buys primary metal and scrap — it is downstream by design

Customers: Industries as published: beverage-can makers (its anchor customers include the world's largest brewers and soft-drink bottlers' can suppliers), automotive manufacturers, aerospace producers and specialty manufacturers across North America, Europe, Asia and South America

Scale: Net sales US$17.1 billion, FY2025 (year ended 31 March 2025); net income attributable to the common shareholder US$683 million; adjusted EBITDA US$1,802 million (Novelis FY2025 results)

Output & smelters: Not a primary producer — output is measured in rolled product: flat-rolled product shipments 3,757 kt, FY2025, including record beverage-packaging shipments (Novelis FY2025 results). This tonnage must not be added to Hindalco's primary output (see Hindalco entry flag) · Smelters & refineries: No primary smelters (see Business lines). Principal rolling and recycling plants: Oswego (New York), Logan (Kentucky, JV), Bay Minette (Alabama, in construction), Terre Haute (Indiana), Greensboro (Georgia) in North America; Ulsan and Yeongju (South Korea) and Chinese finishing in Asia; Pieve Emanuele (Italy), Göttingen and Nachterstedt (Germany), Sierre (Switzerland), Latchford (United Kingdom) in Europe; Pindamonhangaba (Brazil) in South America

Footprint: United States, Canada, Mexico, Brazil, Germany, Italy, Switzerland, the United Kingdom, South Korea and China

Structure: Wholly owned subsidiary of Hindalco Industries Limited (Aditya Birla Group) — Novelis is not separately listed; it reports as a Hindalco segment and files its own financial statements as a bond issuer. See the Hindalco entry: Novelis is its downstream arm, profiled separately here as this guide's principal rolled-products context Headquarters: 3560 Lenox Road, Suite 2000, Atlanta, GA 30326, United States (global headquarters, as published)

Website: novelis.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — contact routes through novelis.com's published channels; no general email is published

The circular economy at industrial scale: Novelis takes back its customers' scrap in closed loops, melts it, and rolls it again — 63% recycled content across 3.76 million tonnes of shipments — making it the demand engine that pulls much of the primary industry's metal through the world's drinks cans and car bodies.

DOWNSTREAM CONTEXT (as commissioned): Novelis's inclusion is as the world's leading rolled-products and recycling business and as Hindalco's downstream arm — both facts stated in the entry. Its shipments are rolled products made substantially from recycled and purchased metal, not primary production, and its revenue is already inside Hindalco's consolidated revenue

Sources: Novelis fourth-quarter and full fiscal-year 2025 results (net sales US$17.1bn; FRP shipments 3,757 kt; adjusted EBITDA US$1,802m; net income US$683m; recycled content 63%; President & CEO Steve Fisher); Novelis second-quarter FY2026 results (EVP & CFO Dev Ahuja; Oswego fire recovery); novelis.com (headquarters, plant network, subsidiary status under Hindalco)

19. CONSTELLIUM SE — PARIS, FRANCE

Founded 2010 (formed from the engineered-products businesses of Alcan/Rio Tinto Alcan, with Apollo and FSI backing; NYSE-listed 2013) · Downstream & rolled context

Leader: CEO: Ingrid Joerg — Chief Executive Officer (from 1 January 2026, succeeding Jean-Marc Germain, who retired as CEO on 31 December 2025 and serves as Special Advisor during 2026; Joerg was previously Chief Operating Officer); Chair: Jean-Christophe Deslarzes — Chairman of the Board of Directors (as named in Constellium's CEO-succession announcement); President / COO: The COO role was held by Ingrid Joerg until her elevation to CEO on 1 January 2026; a successor COO was not named in the sources consulted — stated plainly; CFO: Jack Clark — Executive Vice President and Chief Financial Officer (as published in Constellium's reporting); Other C-suite: Segment presidents for Aerospace & Transportation, Packaging & Automotive Rolled Products and Automotive Structures & Industry are published on constellium.com; beyond the officers named here the roster is carried on the company's site; Senior leadership: CEO Ingrid Joerg (from 1 January 2026); Chairman Jean-Christophe Deslarzes; EVP & CFO Jack Clark — all as named in Constellium's own announcements and results

Leadership: CEO Ingrid Joerg (from 1 January 2026); Chairman Jean-Christophe Deslarzes; EVP & CFO Jack Clark — all as named in Constellium's own announcements and results

Business: Rolled products (aerospace plate and sheet, can and packaging sheet, automotive sheet); extruded products and automotive structures (crash-management systems, body and battery enclosures); recycling and casting centres integrated with its mills. Constellium operates no bauxite, alumina or primary smelting assets — it buys primary metal, alloy and scrap

Customers: Industries as published: aerospace manufacturers and distributors, automotive OEMs, beverage-can and packaging producers, and industrial customers, in Europe and North America

Scale: Revenue US$7,335 million, FY2024; shipments 1,438 kt; net income US$60 million; adjusted EBITDA US$623 million (Constellium FY2024 results)

Output & smelters: Not a primary producer — output is measured in shipments of rolled and extruded products: 1,438 kt, FY2024 (Constellium FY2024 results) · Smelters & refineries: No primary smelters. Principal plants: Muscle Shoals (Alabama) and Ravenswood (West Virginia) rolling; Bowling Green (Kentucky) and Van Buren (Michigan) automotive; Issoire and Montreuil-Juigné (France) aerospace; Neuf-Brisach (France) rolling and recycling/casting; Singen (Germany); Valais — Sierre and Chippis (Switzerland)

Footprint: France, Germany, Switzerland, the United Kingdom, Spain, the Czech Republic, the United States and Mexico, with sales worldwide

Structure: Dutch-registered SE listed on the New York Stock Exchange (CSTM), with operational headquarters in Paris; widely held, with Bpifrance Participations among its significant shareholders Headquarters: 40-44 rue Washington, 75008 Paris, France (operational headquarters, as published); registered office in the Netherlands

Website: constellium.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — contact routes through constellium.com's published channels; no general email is published

Europe's answer to Novelis with an aerospace twist: Constellium supplies the plate inside much of the world's airliner fleet and the structures inside its electric vehicles from plants that began life inside Alcan — a pure downstream business whose fortunes turn on scrap spreads and aerospace build rates, not on the LME ingot market alone.

DOWNSTREAM CONTEXT (as commissioned): Constellium has no primary production; its shipments figure is printed in the Output field with its basis stated in the cell, so the guide's ranking by primary output applies to it only as context. The 2026 CEO succession is dated precisely because it falls inside this edition's window

Sources: Constellium fourth-quarter and full-year 2024 results (revenue US$7,335m; shipments 1,438 kt; net income US$60m; adjusted EBITDA US$623m; Valais flood impact); Constellium announcement of Ingrid Joerg's appointment as CEO effective 1 January 2026 (constellium.com, 29 October 2025 — Chairman Jean-Christophe Deslarzes quoted; Jean-Marc Germain's retirement 31 December 2025)

20. KAISER ALUMINUM CORPORATION — FRANKLIN, UNITED STATES

Founded 1946 (founded by Henry J. Kaiser to operate wartime-built US government aluminium plants; today's corporation descends through the 1980s–2000s restructurings) · Downstream & rolled context

Leader: CEO: Keith A. Harvey — Chairman, President and Chief Executive Officer (all three titles, as published in Kaiser's results releases); Chair: Keith A. Harvey — Chairman (see CEO field; the roles are combined); President / COO: Keith A. Harvey holds the President title jointly with Chairman and CEO (see CEO field); no separate COO title is published; CFO: Neal R. West — Executive Vice President and Chief Financial Officer (as named in Kaiser's 2024 results reporting); Other C-suite: Executive officers are published in Kaiser's annual report and proxy filings, including its general counsel and segment leadership across its four application areas; Senior leadership: Chairman, President & CEO Keith A. Harvey; EVP & CFO Neal R. West — with the full officer roster in Kaiser's SEC filings

Leadership: Chairman, President & CEO Keith A. Harvey; EVP & CFO Neal R. West — with the full officer roster in Kaiser's SEC filings

Business: Semi-fabricated aluminium products only: aerospace and high-strength plate and sheet; packaging (can stock and coated products); general-engineering plate, sheet, rod, bar and tube; automotive extrusions. Sold on a conversion-revenue basis (metal value passed through), under the KaiserSelect proprietary product programme

Customers: Industries as published: aerospace and defence (commercial, business-jet, space and military), packaging producers, general-engineering service centres and semiconductor-equipment supply chains, and automotive manufacturers — worldwide, weighted to North America

Scale: Net sales US$3.0 billion, FY2024, of which conversion revenue US$1.46 billion (the measure Kaiser headlines, stripping out the pass-through metal value); net income US$47 million; adjusted EBITDA US$217 million (Kaiser Aluminum FY2024 results)

Output & smelters: Not a primary producer — output is measured in shipments of semi-fabricated products: total shipments fell 2% in FY2024 (24 million pounds) on Kaiser's reporting, implying ≈1.19 billion pounds (≈0.54 Mt) shipped; the guide carries the company's own shipment-change figure and the implied total labelled as implied, not as a published total · Smelters & refineries: No primary smelters. Principal plants: Trentwood rolling mill, Spokane, Washington (aerospace plate and packaging); Bellwood, Virginia (automotive extrusions); and a network of extrusion and finishing facilities across the United States and in Ontario, Canada (including Sherman, Texas and London, Ontario)

Footprint: United States and Canada (manufacturing); sales worldwide

Structure: Public company listed on NASDAQ (KALU); widely held. Kaiser owns no smelters, refineries or mines — it purchases primary aluminium and scrap and sells conversion value Headquarters: 1550 West McEwen Drive, Suite 500, Franklin, TN 37067, United States (headquarters, as published in Kaiser's filings)

Website: kaiseraluminum.com · Contact: Phone: Not published as a general switchboard in the sources consulted · Email: Not published — contact routes through kaiseraluminum.com's published investor and customer channels; no general email is published

The conversion model in pure form: Kaiser owns no mine, refinery or smelter, yet earns aerospace-grade margins by converting other producers' metal into certified plate and structures — the clearest illustration in this guide that value in aluminium sits as much in metallurgy and qualification as in tonnage.

DOWNSTREAM CONTEXT (as commissioned): Kaiser is included as a leading North American semi-fabricator, not as a producer; its output field is labelled shipments/implied and its scale field explains the conversion-revenue basis so its US$3.0 billion net sales are not compared naively with producers' metal-inclusive revenues

Sources: Kaiser Aluminum Corporation fourth-quarter and full-year 2024 results (s202.q4cdn.com — net sales US$3.0bn; conversion revenue US$1.46bn; net income US$47m; adjusted EBITDA US$217m; Chairman, President & CEO Keith A. Harvey); Kaiser Aluminum 2024 earnings-call reporting (EVP & CFO Neal West; shipments down 24 million pounds, −2%; Trentwood Phase VII and roll-coat line investments)

NAMED GAPS

RUSAL — verification grade B. Production (3.99 Mt), sales, revenue (US$12.08bn) and profit for FY2024 are verified from the Hong Kong-filed Annual Report 2024 and results announcements in English, as are the Chairman (Bernard Zonneveld) and CEO (Evgenii Nikitin). NOT verified for this edition: a current CFO name and the full deputy-CEO roster in English, any published general phone or email, and post-2024 board changes reported only in Russian-language or wire sources. The entry says each of these plainly rather than dropping the company or inventing figures.

Xinfa Group — verification grade C (context entry). Unlisted and publishing no English annual report. Its 3.7 Mt 2024 production is carried solely from the world-producer ranking table in UC Rusal's Annual Report 2024 and labelled as such. Leadership (beyond founder Zhang Xuexin, named in financial-press coverage), revenue, exact plant capacities and contact details are all stated as not published/not disclosed — no figure is estimated.

SPIC Aluminium — verification grade C+ (context entry). The 2.9 Mt 2024 output likewise comes only from Rusal's ranking table. SPIC publishes group leadership in Chinese; no aluminium-arm CEO, chairman, revenue or English contact route was verified. Group scale is carried on a power basis (>313 GW installed capacity, August 2026) and labelled as not aluminium revenue.

Qatalum — leadership grade C, operations grade B-. Capacity (648 kt), the March 2026 gas-supply curtailment to around 60% of capacity, the June 2026 end of Hydro's marketing agency, and 2025 venture earnings (NOK 1.3bn on a 50% basis) are all verified from Hydro/QAMCO releases. No CEO or chair name is published in those releases, so none is printed. Standalone revenue is not published (unlisted JV).

Chalco — no single published group production total. The English annual-report passages verified for this edition do not state one consolidated primary-aluminium production total; the guide carries industry reporting of Chalco's 2025 results (electrolytic aluminium 8.08 Mt in 2025, +6.2%, implying ≈7.6 Mt in 2024) labelled as derived, plus the company's interim 2026 figures. Chalco's CFO is likewise not named — not verified in the English sources consulted.

Hongqiao — production carried as sales volume + capacity. Hongqiao headlines aluminium-alloy sales volume (5.837 Mt, FY2024) and capacity (≈6.46 Mt); a production total on the same basis as peers is not published in the annual-report passages consulted, so none is reconstructed.

Hydro — basis difference kept, not corrected. Hydro's 1,527 kt (2024) is on its controlled-entities basis and excludes its JV shares (Qatalum, Alouette, Tomago), which Hydro reports separately. Peers reporting at 100% or at share on other conventions are labelled in-row; the guide does not gross Hydro up.

Press Metal — capacity, not production. The company publishes smelting capacity (≈1.08 Mt/yr) and segment results but no single group production total in the sources consulted; it is ranked on capacity and the cell says so.

Century Aluminum — shipments, not production. FY2024 output is carried as the sum of published quarterly primary-aluminium shipments (≈0.68 Mt) and labelled shipments.

Kaiser Aluminum — implied shipments. Kaiser publishes a shipment change (−24 million lb, −2%, FY2024) rather than a headline total in its results release; the ≈1.19 billion lb total is labelled implied.

Contact details — the industry norm is silence. Only 1 of 20 entries (Ma'aden, invest@maaden.com, published in its own earnings releases) carries a published general/investor email, and only 5 carry a published headquarters phone (Chalco, Alcoa, Hydro, Rio Tinto, South32). Every other entry prints 'Not published' and the web-form/head-office route the company itself offers. No address was guessed.

Chairs and CFOs not verified (named, not filled): EGA chair (not disclosed in sources consulted); Press Metal chair; South32 CFO; Rusal CFO; Hindalco CFO; Ma'aden CFO; Alba CFO; Constellium's successor COO after Ingrid Joerg's elevation. Each cell says so.

Contexts carried inside entries, not padded as rows: Yunnan Aluminium (inside Chalco — its listed subsidiary); SMB-Winning bauxite (inside Hongqiao); Novelis (profiled separately as downstream AND flagged inside Hindalco — tonnage and revenue are never double-counted in commentary); Jamalco (inside Century); Alumar (inside Alcoa, Rio Tinto and South32 at each owner's share).

Deliberately excluded: East Hope Group (≈2.2 Mt in Rusal's ranking table — a diversified private group whose aluminium arm publishes even less in English than Xinfa; named here so the omission is a decision, not an oversight); Aluar (Argentina), PT Inalum (Indonesia), Trimet (Germany), Alro (Romania) and Shandong Nanshan — regional producers below the world-ranking cut for this edition; Arconic and Howmet Aerospace (downstream, aerospace-weighted, and not aluminium rollers of Novelis/Constellium/Kaiser type at this guide's cut); and pure traders and recyclers without smelting or rolling scale.