Two ASX 200 shares in the mining sector have been put on ice this morning.
They are alumina mining company Alumina Limited (ASX: AWC) and mining services provider Worley Ltd (ASX: WOR).
Let's find out why.
Why are these ASX 200 shares on ice today?
Alumina
Alumina is a holding company that owns a 40% stake in the world's largest alumina and bauxite producer, Alcoa World Alumina and Chemicals (AWAC). The parent company is Alcoa Corp (NYSE: AA).
In its trading halt request today, Alumina told the ASX it was awaiting a decision from Alcoa Corporation on an unspecified matter.
The ASX 200 share will remain on ice until the commencement of normal trading on Wednesday or when the announcement is released to the market.
Last year was very challenging for Alumina. By September, the Alumina share price had dropped below $1 for the first time in 10 years. The ASX 200 share had lost more than a third of its value at that time.
However, the mining stock began a strong rebound in December after resolving licensing issues relating to its Western Australia operations.
The Alumina share price is currently 91 cents.
Worley
Worley provides professional services such as engineering, procurement, and construction management to the mining, oil and gas, chemicals, power, and infrastructure sectors.
A pause in trading notice was issued this morning. A further announcement is expected shortly.
The ASX 200 shares are currently worth $16.92 apiece.
