Ann: Alcoa Corp 3rd Quarter 2023 Earning Release, page-5

"Alcoa continues to progress the mine approvals process in WA, including additional commitments, and now expects bauxite quality similar to recent grades until it can access bauxite from the new regions at Myara North and Holyoake (no earlier than 2027)."

"While global markets for alumina remained tightly balanced in 3Q23, soft end-market demand for aluminium continues to impact alumina prices. Nevertheless, the longer-term outlook for the alumina market remains positive, with the anticipated growth in aluminium metal consumption driven by de-carbonisation."

I guess it means there will be 2-3 years of soft prices and no dividends...