Alumina Limited has some strong bonds in the alumina industry. Operating through its 40% stake in joint venture Alcoa World Alumina and Chemicals (AWAC, 60% owned by Arconic), which manufactures alumina, alumina-based chemicals, and aluminum. AWAC is considered the world's largest producer of alumina (a refined product of bauxite ore used in making aluminum) and a major producer of alumina-based chemicals. The alumina produced by AWAC is sold mainly to Alcoa's smelting facilities. Overseas customers in Canada, Europe, the Middle East, South Africa, and the US purchase the rest of the alumina. Alumina Limited was formed in 2002 as a result of a spinoff from WMC Resources.