AWC Alcoa AWAC relationship

I am looking for some help in understanding the relationship and assets of Alumina (AWC) and Alcoa and AWAC from somebody more knowledgeable than myself.
So please help if you can.

What I do understand is that;
AWAC is a joint venture between AWC and Alcoa.
AWC owns 40% of AWAC
Alcoa owns 60% of AWAC
Alcoa is the operations manager of AWAC
AWACs operations include bauxite mining and smelting around the world.
AWAC is big with about 25% of the Alumina market.

What I cannot find information on is;
Does AWC have any assets or operations outside of AWAC.
Does Alcoa have any assets or operations outside of AWAC.
Does AWC derive all its income from AWAC via dividend payments from AWAC
Does Alcoa derive all its income from AWAC
Does Alcoa derive any income from sources external to AWAC.

I have tried to answer this myself however the AWC, Alcoa and AWAC websites seem very vague on the details.

My reason for trying to understand this is I am an AWC shareholder and have been for many years and it now makes up a good % of my portfolio yet I don't fully understand the above relationships. (Yes I know I should have understood this before buying AWC shares).

in addition Alcoa has just announced excellent financial results and as a result their share price jumped 15% today on the back of an already good 12 months.
So if these great results are as a result of good AWAC performance does it not mean AWC should soon announce the same great financial results.

So if anyone can fill in some or all of my knowledge gaps on this subject I would be very appreciative.

thanks in advance
Martin