Core Viewpoint - Alcoa of Australia has reached an agreement with the Australian Federal Government to modernize the approvals framework for its mining activities, enhancing environmental assessments and operational clarity through a Strategic Assessment process [1] Group 1: Strategic Assessment and Environmental Commitments - The Strategic Assessment will evaluate current and future mining areas until 2045, focusing on the impacts on significant flora and fauna [1] - Alcoa will limit land clearing to 800 hectares per year and aims to increase rehabilitation efforts to 1,000 hectares annually by 2027 [1] - The company has committed to investing over A$15 million by 2029 to enhance knowledge of the Northern Jarrah Forest and to implement measures for protecting public drinking water [1] Group 2: Financial Implications and Operational Impact - Alcoa will incur a charge of $19 million related to environmental reserves due to historical clearing, with cash outlays expected in 2026 [1] - In 2024, Alcoa's Australian operations invested A$2.7 billion with over 1,700 local suppliers, retaining more than 70% of revenue generated in Australia within the country [1] - The company provides direct and indirect employment for approximately 5,500 people and supports additional jobs in local communities [1] Group 3: Future Mining Operations - The Strategic Assessment does not affect ongoing environmental assessments for the Myara North and Holyoake mine regions, with mining in these areas anticipated to start no earlier than 2029 [1] - Alcoa expects bauxite quality to remain consistent with recent grades until new mining operations commence [1]