Infrastructure at work: The Ma’aden Alcoa $10.8bn JV in the Kingdom of Saudi Arabia

Kenneth P. WisnoskiPresident, Alcoa Global Primary Products Growth

Mine Refinery Smelter Rolling Mill

• Co-located with Smelter at Ras Al Khair

• 380 KMT annually

• Designed for expansion

• Body, end & tab stock for aluminum cans

• Operational 2013

• Co-located with Refinery at Ras Al Khair

• 740 – 780 KMT annually

• Designed for expansion

• Ingots, billets, T-bar and slabs for Rolling Mill

• Operational 2013

• Al Ba’itha mine

• 4.25 MMT annually

• 30+ years of reserves

• North-South railway to transport bauxite

• Operational 2014

The Ma’aden Alcoa aluminium joint venture:first-mover advantage

• Located at Ras Al Khair

• First Alumina Refinery in GCC

• 1.8 – 2.1 MMT annually

• Designed for expansion

• Operational 2014

Phase II Phase I

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Foundation for an entire new industry

2400 MW Power Plant Fuel Ownership in

Ma’adenDirect Project

FinancePort Facilities1,719 km Railroad

Infrastructure Support

Aluminum Project

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Government of the Kingdom of Saudi Arabia

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“Ultimately the objective is to createopportunity and prosperity for the citizens of Saudi Arabia and prosperityand profits for the people who invest inthe Kingdom.”

H.E Adel A. Al JubeirSaudi Arabian Ambassador to the United States

Regional and global leaders in partnership

Ma’aden: Established as a Saudi Arabian joint stock company in March 1997 to

facilitate the development of Saudi Arabia’s non-petroleum mineral resources and to diversify the Kingdom’s economy .

Already a world-class mineral enterprise .

Alcoa: Established 1888. World’s leading producer of primary aluminum, fabricated

aluminum and alumina. Operating in 31 countries Supplies aerospace, automotive, packaging, building and construction,

commercial transportation, consumer electronics and industrial markets.

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Key Global Megatrends Are Shaping The Future

Population GrowthPopulation Growth UrbanizationUrbanization EnvironmentEnvironment

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Energy consumption rising Increase of 54% by 2025 Driven by developing countries

Personal transport rising Increase of 40% by 2030

Greenhouse gas regulation

Global population rising

2006: 6.6 billion 2025: 7.9 billion 2050: 9.1 billion

Population in cities

2006: > 50% 2030: > 60%

Aluminum Will Need Rapid Growth To Meet Demand

3 MMT per year

5x Ma’aden smelters per year

7 MMT per year

4x Ma’aden refineries per year

19 MMT per year

4x Ma’aden bauxite mines per year

Bauxite (MMT/year) Aluminum (MMT/year)Alumina (MMT/year)

Industry Growth:

6.5% CAGR

~$30 billion in Investments

per year

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2X 2X2X

214

400

2010 2020

82

156

2010 2020

39

73

2010 2020

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Ras Al Khair Industrial Complex:Smelter, Refinery, Rolling Mill, Port

Railway(600 km)

Al Baitha bauxite mine

Speed of progress

Signed JV Agreement December 2009

Ground break smelter and rolling mill June 2010

First concrete for smelter October 2010

Phase 1 financial close November 2010

Ground break refinery August 2011

First concrete rolling mill August 2011

First pot shells on site August 2011

Phase 2 financial close Today!

First production-smelter and rolling mill 2013

First production-mine and refinery 2014

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World’s longest potrooms: 1.3 km

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Hon James B. SmithAmbassador of the United States to the Kingdom of Saudi Arabia

“It helps transform the landscapeSo of all the joint ventures going on today, this one might be the most strategically important.”

THANK YOU!

QUESTIONS? 

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