Alumina (ASX:AWC) has experienced a significant decrease, falling as much as 5.7% to A$1.240, a record low since October 2022.

Alumina’s stock is currently the fourth-largest loser in the ASX 200 benchmark index, as of 0033 GMT.

If this trend continues, it is set to decline for the fifth consecutive session.

The company has seen its biggest intraday drop since February 10th following the news of a H1 net loss after tax of $43 million, opposed to last year’s profit of $168 million.

The organisation states it has faced challenges in the first half of the year, and continues to grapple with ongoing delays with mining permits in Western Australia.

Alumina made no mention of an interim dividend for the year; last year, an announcement of 4.2 U.S.

cents per share was declared.

The company’s stock has gone down overall this year, declining 13.5% as of the most recent close, in stark contrast to the 1.1% increase seen in the ASX 200 benchmark.

Alumina (ASX:AWC) is an Australian company primarily involved in bauxite mining and aluminium smelting.