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2023 Annual Report


Aluminum to transform

The transformation opportunities enabled by CBA’s aluminum are infinite. By transforming the aluminum, —from sustainable bauxite mining to primary and downstream products—the Company serves a wide range of industries.  

And the positive impact from CBA’s activities reaches across customers, suppliers, employees, and the communities where the Company operates.  

Recognizing its responsibility and leadership in shaping a better world, CBA transforms lives through aluminum. 


2023 at a glance

CBA’s competitive advantages include self-sufficiency in bauxite and alumina, a fully vertically integrated value chain, renewable generation capacity to produce 100% of the Company’s electricity requirement, and a strategy that places sustainability and innovation at its core.

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7,824 GWh

of 100% renewable power output across hydroelectric plants and wind complexes

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R$ 307 million

in adjusted EBITDA (Adjusted EBITDA margin of 4%)

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1.9 million

metric tons of bauxite processed

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metric tons of molten aluminum produced

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cast and downstream products produced

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R$ 7.3 billion

in net revenue


In 2023, CBA was named to the IDIVERSA index and, for the second consecutive year, included in the ISE index – remaining among the top ten -, both B3’s ESG indexes (the Brazilian stock exchange) .

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Primary Business

  • Startup of first pilot mobile processing plant. The plant produces Tecno-solo (topsoil) that enables the Company to mine bauxite without creating tailings or requiring tailings dams
  • 0.22 tCO₂e of alumina Refinery emissions, the lowest emissions level in the world at this stage of the aluminum production process, according to emissions intelligence data from global consulting firm CRU  

Downstream Business

  • 1,500 metric-ton increase in sheet production capacity for the packaging segment
  • 176 initiatives to improve operational efficiency and cost savings
  • 142 real estate developments completed with Primora aluminum frame products 

Energy Business

  • 1,462.7 MW of installed capacity across 22 wholly or jointly owned hydroelectric power plants
  • 171.6 MW installed wind capacity in 2 wind complexes, with 168.2 MW owned by CBA 

Increasingly digital and innovative

Innovation is crucial for sustainable performance, business competitiveness, talent development, and value creation. Through digital transformation, the Company is not only upgrading its technological infrastructure but also reshaping its workforce and revolutionizing the way aluminum is delivered within the industry. 

  • Further expansion of CBA’s first learning community, Decodificando o Digital (“Decoding Digital”), which currently has over 1,200 members and has already produced around 600 “knowledge pills”
  • 8 PODs explored, engaging 190 employees, and yielding over R$ 145 million in identified annualized benefits to be realized in the coming years. PODs are multidisciplinary teams devoted to addressing a specific problem within a given timeframe
  • Created within the DigitALL program, scrap video analytics uses artificial intelligence to improve recycling line efficiency and aluminum quality, delivering estimated benefits of R$ 2.9 million per year 

Governance best practices

CBA operates to the highest standards of corporate governance. Ethics, transparency, respect, and anti-corruption guide all its activities and relationships. 

  • New leadership team: sitting members of the Board of Directors and some committees reelected, and new CEO appointed 
  • Creation of the Climate Change, Water Resilience, and Innovation committees
  • 100% of employees assigned ESG-linked variable compensation targets as part of the Company’s Profit Sharing Program 
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CBA was recognized in the inaugural Transparency 100% Movement Best Practices Award by the Global Compact. The accolade recognized transparency and practices in addressing reports received through the Company’s Ethics Hotline. 

Learn more

Transforming lives

People are the driving force behind CBA from employees throughout the aluminum production chain, through suppliers, customers, consumers, and business partners, to the people living in the areas where the Company operates. Beyond fostering safety, health, and professional and social development, CBA is committed to transforming lives through aluminum, leaving a legacy of sustainability and civic engagement.

Employee engagement

  • 6,834 direct employees
  • 17.3% women in the workforce, with 21.4% in leadership positions (management and above)
  • New employee census to identify the Company’s workforce profile through self-reported data on gender, race, and sexual orientation 
  • 22% reduction in injury frequency rates from 2022 to 2023 

The Alumínio (SP) Plant obtained certification against ISO 45001:2018, an international standard on Occupational Health and Safety Management Systems.


Supplier relations

  • 97% of the extended supplier base underwent assessments against ESG criteria 
  • Over 100 suppliers trained on topics such as climate change, risk management, and diversity, equity, and inclusion 

Customer relationships

  • 78 co-engineering projects developed with customers in 2023
  • All Primora-branded profiles and products from five customers now feature the Company’s new Alennium low-carbon label

Community engagement

  • The first edition of Empreende Mulher (“Women Entrepreneurs”) provided mentoring to 30 participants, with 5 aspiring women entrepreneurs receiving seed capital and continued mentoring in 2024
  • 593 people participated in the Volunteering Challenge with 111 different activities benefiting 8,300 people and 55 charities
  • Collaboration with the Votorantim Institute and Itausa Institute to create the Public Management Support – Climate Action Initiative

R$ 9.7 million invested in 60 social initiatives, benefiting 54,000 people in 28 cities


Environmental leadership

The transition to a low-carbon economy is a global reality. Aluminum can play a significant role in efforts to achieve economic development coupled with emissions reductions. Lightweight, strong, flexible, and infinitely recyclable, aluminum is one of the most widely used materials across various industries.


CO₂e emissions

for cast products reduced by 26.0% from a 2019 baseline

Emissions intensity of 2,98 tCO₂e/t in cast products


374,700 carbon credits

issued from 2017 to 2023 through the REDD+ Cerrado program in the Legado Verdes do Cerrado reserve

272.4% increase

in revenue from production process byproducts compared to 2022 (tailing generated in CBA’s production processes)

CBA is an industry leader for low aluminum emissions intensity, with 3.5 times lower emissions than the global average*. 

*Assuming global average scope 1 and 2 emissions of 11.3 tCO₂e/t aluminum at the smelting stage, based on 2022 data from the International Aluminium Institute (IAI).


Recycling is essential

Aluminum recycling offers a wide range of benefits: it saves 95% of the energy used in primary aluminum production, significantly reduces greenhouse gas emissions, and decreases the use of raw materials and other inputs.

  • Startup of Metalex’s scrap treatment line and creation of CBA’s Processing and Recycling Center  
  • 14.1% expansion in the use of processing scrap in the Downstream Business, where 100% of internally generated scrap was recycled, in addition to externally sourced scrap 
  • Project ReAl enters its final phase. Innovative initiative will enable recycling of flexible and carton packaging containing aluminum 
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189.4 thousand metric tons of internally and externally sourced scrap consumed in 2023.

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