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May 31, 2012

Ma’aden Alcoa Joint Venture Achieves Significant Safety Milestone

Construction workforce surpasses 25 million safe work hours at Ras Al Khair smelter site in Saudi Arabia

NEW YORK--Alcoa (NYSE:AA) and the Saudi Arabian Mining Company, Ma’aden have recorded a major safety milestone during construction of their aluminum smelter at Ras Al Khair, in Saudi Arabia: 25 million hours worked without a lost work day injury.

Part of the fully integrated aluminum complex being developed jointly by Ma’aden and Alcoa, the 740,000-metric-ton-per-year smelter is scheduled for completion in 2013.

The lost work day accomplishment was achieved by 39 construction companies employing a diverse multinational workforce that speaks more than 15 languages and represents upwards of 25 countries and cultures. The number of workers including contractors grew from less than 200 to approximately 12,400 during this period.

“Achieving this remarkable safety performance on such a large and complex project requires team work, training and focus,” said Ken Wisnoski, Vice President, Alcoa and President Global Primary Products Growth. “While we are proud of this achievement, we know we cannot relax. Safety requires constant vigilance.”

Engineer Abdullah Busfar, Chairman of Ma’aden Aluminium Company, said, “This is safety performance in keeping with the world-class facility we are building at Ras Al Khair. There are many challenges to overcome to achieve an injury-free workplace in a project of this size, but we have the right people, focused on doing the right things, and the teams constructing the smelter are to be commended for achieving this milestone”

About the Ma’aden Alcoa joint venture
In its initial phases, the joint venture will develop a fully integrated industrial complex which will become the world's preeminent and lowest-cost supplier of primary aluminum, alumina and aluminum products, with access to the growing markets of the Middle East and beyond. The complex comprises:
  • A bauxite mine with an initial capacity of 4,000,000 metric tons per year
  • An alumina refinery with an initial capacity of 1,800,000 metric tons per year
  • An aluminum smelter with an initial capacity of 740,000 metric tons per year
  • A rolling mill, with initial capacity of 380,000 metric tons per year. The mill will be the first in the Middle East capable of producing food grade can sheet, and will be one of the most technically advanced mills in the world.


First commercial production from smelter and mill is scheduled for 2013, followed by first commercial production of alumina from the mine and refinery complex, scheduled for 2014. Alcoa will supply alumina to the smelter in the interim period.

About Alcoa
Alcoa is the world’s leading producer of primary aluminum, fabricated aluminum and alumina. In addition to inventing the modern-day aluminum industry, Alcoa innovation has been behind major milestones in the aerospace, automotive, packaging, building and construction, commercial transportation, consumer electronics and industrial markets over the past 120 years. Among the solutions Alcoa markets are flat-rolled products, hard alloy extrusions, and forgings, as well as Alcoa® wheels, fastening systems, precision and investment castings, and building systems in addition to its expertise in other light metals such as titanium and nickel-based super alloys. Sustainability is an integral part of Alcoa’s operating practices and the product design and engineering it provides to customers. Alcoa has been a member of the Dow Jones Sustainability Index for ten consecutive years and approximately 75 percent of all of the aluminum ever produced since 1888 is still in active use today. Alcoa employs approximately 61,000 people in 31 countries across the world. More information can be found at www.alcoa.com.

About Ma’aden
Ma’aden was 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 away from the petroleum and petrochemical sectors. Ma’aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. In July 2008 Ma’aden offered 50% of the company’s shares for subscription in a successful SR 9.25 billion IPO. Ma’aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health and safety, environmental and social issues.

The company is committed to the best international and local environmental standards and values its role as a good corporate citizen.