---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-069604"
form_type: "8-K"
ticker: "AA"
cik: "0001675149"
company_name: "Alcoa Corp"
filed_at: "2025-04-01T23:59:59+00:00"
generated_at: "2026-05-24T00:49:31.012832+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Alcoa forms JV with IGNIS for San Ciprián; smelter restart planned for 2025

## Summary
- Alcoa holds 75% interest, IGNIS 25% in JV; contributed $81M and $27M respectively.
- Planned restart of San Ciprián smelter in 2025, commitment from 2021 curtailment.
- 2024 smelter net loss $50M; negative cash from ops $60M; expects 2025 loss of $80-100M.
- Up to $108M additional funding by Alcoa with priority in cash returns; further funding requires partner approval.
- Restart capex ~$10M, included in unchanged total capex guidance.

## SEC filing metadata
- accession: 0001193125-25-069604
- form_type: 8-K
- ticker: AA
- cik: 0001675149
- company_name: Alcoa Corp
- filed_at: 2025-04-01T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1675149/000119312525069604/0001193125-25-069604-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1675149/000119312525069604/d824128d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-069604
- JSON: https://secwatch.observer/filing/0001193125-25-069604.json
- Plain text: https://secwatch.observer/filing/0001193125-25-069604.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.