10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 10-Q

(Mark One)

xQUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2012

OR

£TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from [_____________ to _______________].

Commission file number: 001-34741

NORANDA ALUMINUM HOLDING CORPORATION

(Exact Name of Registrant as Specified in Its Charter)

Delaware (State or Other Jurisdiction of Incorporation)	20-8908550 (I.R.S. Employer Identification Number)
801 Crescent Centre Drive, Suite 600 Franklin, Tennessee (Address of Principal Executive Offices)	37067 (Zip Code)
Registrant's Telephone Number, Including Area Code: (615) 771-5700

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

YES xNO £

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).

YES xNO £

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See definition of "large accelerated filer," "accelerated filer" and "smaller reporting company" in Rule 12b-2 of the Exchange Act. (Check one):

Large accelerated filer £ Accelerated Filer S Non-accelerated filer (Do not check if a smaller reporting company) £ Smaller reporting company £

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act).    YES£NOx

As of October 19, 2012, there were 67,712,263 shares of Noranda common stock outstanding.

1

NORANDA ALUMINUM HOLDING CORPORATION

TABLE OF CONTENTS

Part I	FINANCIAL INFORMATION	3
Item 1.	Financial Statements	3
Item 2.	Management's Discussion and Analysis of Financial Condition and Results of Operations	34
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	48
Item 4.	Controls and Procedures	49
Part II	OTHER INFORMATION	50
Item 1.	Legal Proceedings	50
Item 1A.	Risk Factors	50
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	50
Item 3.	Defaults upon Senior Securities	50
Item 4.	Mine Safety Disclosures	50
Item 5.	Other Information	50
Item 6.	Exhibits	50
SIGNATURES		51

2

Part I.    FINANCIAL INFORMATION

Item 1. Financial Statements

NORANDA ALUMINUM HOLDING CORPORATION

CONSOLIDATED BALANCE SHEETS

(in millions, except par value)

(unaudited)

	September 30, 2012		December 31, 2011
	$		$
ASSETS
Current assets:
Cash and cash equivalents	33.9		42.7
Accounts receivable, net	122.8		107.6
Inventories, net	202.9		186.5
Taxes receivable	8.3		—
Prepaid expenses	19.5		13.3
Other current assets	12.3		41.3
Total current assets	399.7		391.4
Property, plant and equipment, net	693.1		699.8
Goodwill	137.6		137.6
Other intangible assets, net	62.7		67.1
Other assets	86.6		81.6
Total assets	1,379.7		1,377.5
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	105.9		95.9
Accrued liabilities	59.3		87.3
Taxes payable	—		2.6
Derivative liabilities, net	10.4		40.9
Deferred tax liabilities	6.2		35.9
Current portion of long-term debt	3.3		2.4
Total current liabilities	185.1		265.0
Long-term debt, net	593.2		426.1
Long-term derivative liabilities, net	0.4		0.1
Pension and other post-retirement benefit ("OPEB") liabilities	179.1		175.7
Other long-term liabilities	48.0		46.2
Long-term deferred tax liabilities	206.9		202.8
Common stock subject to redemption (0.2 shares at September 30, 2012 and December 31, 2011)	2.0		2.0
Shareholders’ equity:
Preferred stock (25.0 shares authorized, $0.01 par value; no shares issued and outstanding at September 30, 2012 and December 31, 2011)	—		—
Common stock (200.0 shares authorized; $0.01 par value; 67.7 shares issued and outstanding at September 30, 2012; 67.3 shares issued and outstanding at December 31, 2011, including 0.2 shares subject to redemption at September 30, 2012 and December 31, 2011)	0.7		0.7
Capital in excess of par value	232.5		231.9
Retained earnings	16.5		63.4
Accumulated other comprehensive loss	(90.7	)	(42.4	)
Total shareholders’ equity	159.0		253.6
Non-controlling interest	6.0		6.0
Total equity	165.0		259.6
Total liabilities and equity	1,379.7		1,377.5

See accompanying notes

3

NORANDA ALUMINUM HOLDING CORPORATION

CONSOLIDATED STATEMENTS OF OPERATIONS

(in millions, except per share information)

(unaudited)

	Three months ended September 30,						Nine months ended September 30,
	2012			2011			2012			2011
	$			$			$			$
Sales	336.8			400.4			1,062.0			1,221.3
Operating costs and expenses:
Cost of sales	323.3			350.4			959.4			1,031.8
Selling, general and administrative expenses	24.3			26.8			64.8			72.3
Total operating costs and expenses	347.6			377.2			1,024.2			1,104.1
Operating income (loss)	(10.8		)	23.2			37.8			117.2
Other (income) expense:
Interest expense, net	8.9			5.2			24.2			16.4
Gain on hedging activities, net	(25.4		)	(19.5		)	(62.5		)	(65.6		)
Debt refinancing expense	—			—			8.1			—
Total other income, net	(16.5		)	(14.3		)	(30.2		)	(49.2		)
Income before income taxes	5.7			37.5			68.0			166.4
Income tax expense	1.9			6.7			22.7			49.9
Net income	3.8			30.8			45.3			116.5
Net income per common share:
Basic	$	0.06		$	0.46		$	0.67		$	1.74
Diluted	$	0.05		$	0.45		$	0.66		$	1.71
Weighted-average common shares outstanding:
Basic	67.68			67.23			67.49			67.00
Diluted	69.12			68.49			69.10			68.32
Cash dividends declared per common share	$	0.04		$	—		$	1.37		$	—

See accompanying notes

4

NORANDA ALUMINUM HOLDING CORPORATION

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(in millions)

(unaudited)

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Net income	3.8		30.8		45.3		116.5
Other comprehensive income (loss):
Unrealized pension loss	(16.7	)	—		(16.7	)	—
Reclassification of pension and OPEB amounts realized in net income	2.9		—		8.6		—
Unrealized loss on derivatives	(0.1	)	(4.8	)	(3.5	)	(7.6	)
Reclassification of derivative amounts realized in net income	(25.3	)	(27.1	)	(64.3	)	(73.5	)
Total other comprehensive loss, before tax	(39.2	)	(31.9	)	(75.9	)	(81.1	)
Income tax benefit related to components of other comprehensive loss	14.3		11.6		27.6		29.5
Total other comprehensive loss, net of tax	(24.9	)	(20.3	)	(48.3	)	(51.6	)
Total comprehensive income (loss)	(21.1	)	10.5		(3.0	)	64.9

See accompanying notes

5

NORANDA ALUMINUM HOLDING CORPORATION

CONSOLIDATED STATEMENTS OF EQUITY

(in millions)

(unaudited)

	Preferred stock	Common stock	Capital in excess of par value		Retained earnings (accumulated deficit)		Accumulated other comprehensive income (loss)		Non-controlling interest	Total equity
	$	$	$		$		$		$	$
Balance, December 31, 2010	—	0.7	227.7		(8.2	)	69.5		6.0	295.7
Net income	—	—	—		140.9		—		—	140.9
Other comprehensive loss	—	—	—		—		(111.9	)	—	(111.9	)
Issuance of common shares for equity-based awards	—	—	0.7		—		—		—	0.7
Stock compensation expense related to equity-based awards	—	—	4.6		—		—		—	4.6
Excess taxes related to share-based payment arrangements	—	—	0.7		—		—		—	0.7
Dividends to shareholders @ $1.03 per share	—	—	—		(69.3	)	—		—	(69.3	)
Distribution to share-based award holders @ $1.00 per share	—	—	(1.8	)	—		—		—	(1.8	)
Balance, December 31, 2011	—	0.7	231.9		63.4		(42.4	)	6.0	259.6
Net income	—	—	—		45.3		—		—	45.3
Other comprehensive loss	—	—	—		—		(48.3	)	—	(48.3	)
Issuance of common shares for equity-based awards	—	—	0.5		—		—		—	0.5
Stock compensation expense related to equity-based awards	—	—	3.7		—		—		—	3.7
Excess taxes related to share-based payment arrangements	—	—	(0.1	)	—		—		—	(0.1	)
Shares repurchased	—	—	(0.4	)	—		—		—	(0.4	)
Dividends to shareholders @ $1.37 per share	—	—	—		(92.2	)	—		—	(92.2	)
Distribution to share-based award holders @ $1.25 per share	—	—	(3.1	)	—		—		—	(3.1	)
Balance, September 30, 2012	—	0.7	232.5		16.5		(90.7	)	6.0	165.0

See accompanying notes

6

NORANDA ALUMINUM HOLDING CORPORATION

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in millions)

(unaudited)

	Nine months ended September 30,
	2012		2011
	$		$
OPERATING ACTIVITIES
Net income	45.3		116.5
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	70.2		73.1
Non-cash interest expense	2.1		11.0
Last in, first out and lower of cost or market inventory adjustments	(14.3	)	17.3
(Gain) loss on disposal of assets	(1.4	)	1.8
Gain on hedging activities, excluding cash settlements	(99.6	)	(83.1	)
Debt refinancing expense	8.1		—
Deferred income taxes	2.1		(2.3	)
Share-based compensation expense	3.9		4.4
Excess tax benefit related to share-based payment arrangements	—		(0.7	)
Changes in other assets	(6.0	)	(5.7	)
Changes in pension, other post-retirement and other long-term liabilities	(1.3	)	(13.9	)
Changes in current operating assets and liabilities:
Accounts receivable, net	(15.2	)	(8.4	)
Inventories, net	(3.5	)	(22.2	)
Taxes receivable and taxes payable	(11.1	)	(1.8	)
Other current assets	24.6		(20.0	)
Accounts payable	10.3		17.0
Accrued liabilities	(28.0	)	27.3
Cash provided by (used in) operating activities	(13.8	)	110.3
INVESTING ACTIVITIES
Capital expenditures	(59.8	)	(44.1	)
Proceeds from sale of property, plant and equipment	4.8		2.6
Cash used in investing activities	(55.0	)	(41.5	)
FINANCING ACTIVITIES
Proceeds from issuance of common shares	0.5		0.6
Dividends paid to shareholders	(92.2	)	—
Distributions paid to share-based award holders	(3.1	)	—
Repurchase of shares	(0.4	)	—
Repayments of long-term debt	(154.8	)	—
Borrowings on long-term debt, net	322.6		—
Payments of financing costs	(12.6	)	—
Excess tax benefit related to share-based payment arrangements	—		0.7
Cash provided by financing activities	60.0		1.3
Change in cash and cash equivalents	(8.8	)	70.1
Cash and cash equivalents, beginning of period	42.7		33.8
Cash and cash equivalents, end of period	33.9		103.9

See accompanying notes

7

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

1.ACCOUNTING POLICIES

Organization, Consolidation and Basis of Presentation

The accompanying unaudited consolidated financial statements represent the consolidation of Noranda Aluminum Holding Corporation and all companies that we directly or indirectly control ("Noranda," "the Company," "we," "us," and "our"). "Noranda HoldCo" refers only to Noranda Aluminum Holding Corporation, excluding its subsidiaries. "Noranda AcquisitionCo" refers only to Noranda Aluminum Acquisition Corporation, the wholly-owned direct subsidiary of Noranda HoldCo, excluding its subsidiaries.

These unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP") for interim financial information. The consolidated financial statements, including these condensed notes, are unaudited and exclude some of the disclosures required in annual consolidated financial statements. Consolidated balance sheet data as of December 31, 2011 was derived from our audited consolidated financial statements. In management's opinion, these unaudited consolidated financial statements include all adjustments (including normal recurring accruals) that are considered necessary for the fair presentation of our financial position and operating results. All intercompany transactions and accounts have been eliminated in consolidation.

The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. For example, our interim operating results are affected by peak power usage rates from June through September each year which affect our operating costs at the New Madrid smelter. We are also subject to seasonality associated with the demand cycles of our end-use customers, which results in lower shipment levels from November to February relative to other periods during the year.

These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission ("SEC") on March 12, 2012.

2.SEGMENTS

We manage and operate our business segments based on the markets we serve and the products we produce. We have five reportable segments consisting of Bauxite, Alumina, Primary Aluminum, Flat-Rolled Products and Corporate.

Segment profit (in which certain items, primarily non-recurring costs or non-cash expenses, are not allocated to the segments and in which certain items, primarily the income statement effects of current period cash settlements of hedges, are allocated to the segments) is a measure used by management as a basis for resource allocation.

8

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

The following tables present operating and asset information for our reportable segments (in millions):

	Three months ended September 30, 2012
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	13.6		48.6		129.1		145.5		—		—		336.8
Intersegment	20.0		32.0		18.1		—		—		(70.1	)	—
Total sales	33.6		80.6		147.2		145.5		—		(70.1	)	336.8
Capital expenditures	2.6		4.6		7.1		2.7		0.9		—		17.9
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	0.3		1.8		3.1		12.0		(7.3	)	0.2		10.1
Depreciation and amortization	(2.1	)	(5.8	)	(11.0	)	(4.4	)	(0.3	)	—		(23.6	)
Last in, first out and lower of cost or market inventory adjustments	—		—		3.0		6.8		—		0.2		10.0
Gain (loss) on disposal of assets	0.2		—		(1.4	)	—		—		—		(1.2	)
Non-cash pension, accretion and stock compensation	—		(0.2	)	(1.4	)	(1.3	)	(1.1	)	—		(4.0	)
Relocation and severance	—		—		0.1		(0.1	)	(0.1	)	—		(0.1	)
Consulting fees	—		—		—		—		(0.2	)	—		(0.2	)
Cash settlements on hedging transactions	—		—		0.2		2.3		—		—		2.5
Other, net	—		—		(3.6	)	(0.1	)	—		(0.6	)	(4.3	)
Operating income (loss)	(1.6	)	(4.2	)	(11.0	)	15.2		(9.0	)	(0.2	)	(10.8	)
Interest expense, net													8.9
Gain on hedging activities, net													(25.4	)
Debt refinancing expense													—
Total other income, net													(16.5	)
Income before income taxes													5.7

In third quarter 2012, we incurred $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of our collective bargaining agreement at our New Madrid smelter. This is reflected in the table above in "Other, net."

9

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

	Three months ended September 30, 2011
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	17.4		60.6		159.2		163.2		—		—		400.4
Intersegment	23.5		43.5		28.5		—		—		(95.5	)	—
Total sales	40.9		104.1		187.7		163.2		—		(95.5	)	400.4
Capital expenditures	1.3		4.1		6.5		2.7		0.2		—		14.8
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	6.8		23.4		21.8		12.1		(8.0	)	4.1		60.2
Depreciation and amortization	(3.2	)	(5.3	)	(11.5	)	(4.7	)	(0.3	)	—		(25.0	)
Last in, first out and lower of cost or market inventory adjustments	—		—		(2.0	)	0.7		—		3.2		1.9
Gain (loss) on disposal of assets	—		—		(0.4	)	0.1		—		—		(0.3	)
Non-cash pension, accretion and stock compensation	(0.1	)	(0.1	)	(0.8	)	(0.6	)	(1.0	)	—		(2.6	)
Relocation and severance	—		—		(0.6	)	(0.1	)	(0.5	)	—		(1.2	)
Consulting fees	—		—		—		—		(1.4	)	—		(1.4	)
Cash settlements on hedging transactions	—		—		0.3		—		—		—		0.3
Other, net	0.1		(0.1	)	0.1		—		(3.5	)	(5.3	)	(8.7	)
Operating income (loss)	3.6		17.9		6.9		7.5		(14.7	)	2.0		23.2
Interest expense, net													5.2
Gain on hedging activities, net													(19.5	)
Debt refinancing expense													—
Total other income, net													(14.3	)
Income before income taxes													37.5

10

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

	Nine months ended September 30, 2012
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	37.3		162.1		413.1		449.5		—		—		1,062.0
Intersegment	61.8		106.2		58.2		—		—		(226.2	)	—
Total sales	99.1		268.3		471.3		449.5		—		(226.2	)	1,062.0
Capital expenditures	6.6		12.8		27.8		10.4		2.2		—		59.8
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	3.9		29.2		51.9		41.1		(22.3	)	—		103.8
Depreciation and amortization	(6.3	)	(16.3	)	(32.9	)	(13.7	)	(1.0	)	—		(70.2	)
Last in, first out and lower of cost or market inventory adjustments	—		—		7.4		7.2		—		(0.3	)	14.3
Gain (loss) on disposal of assets	0.2		—		(3.0	)	4.2		—		—		1.4
Non-cash pension, accretion and stock compensation	(0.1	)	(0.6	)	(4.1	)	(3.7	)	(4.6	)	—		(13.1	)
Relocation and severance	—		—		(0.1	)	(0.2	)	(0.2	)	—		(0.5	)
Consulting fees	—		—		—		—		(0.7	)	—		(0.7	)
Cash settlements on hedging transactions	—		—		0.7		6.3		—		—		7.0
Other, net	—		(0.4	)	(3.5	)	—		(0.2	)	(0.1	)	(4.2	)
Operating income (loss)	(2.3	)	11.9		16.4		41.2		(29.0	)	(0.4	)	37.8
Interest expense, net													24.2
Gain on hedging activities, net													(62.5	)
Debt refinancing expense													8.1
Total other income, net													(30.2	)
Income before income taxes													68.0

In third quarter 2012, we incurred $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of our collective bargaining agreement at our New Madrid smelter. This is reflected in the table above in "Other, net."

11

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

	Nine months ended September 30, 2011
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	52.0		182.2		498.8		488.3		—		—		1,221.3
Intersegment	63.4		135.0		62.3		—		—		(260.7	)	—
Total sales	115.4		317.2		561.1		488.3		—		(260.7	)	1,221.3
Capital expenditures	6.7		9.4		18.7		8.4		0.9		—		44.1
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	19.2		73.9		117.6		41.8		(21.8	)	0.1		230.8
Depreciation and amortization	(7.6	)	(15.7	)	(34.8	)	(14.1	)	(0.9	)	—		(73.1	)
Last in, first out and lower of cost or market inventory adjustments	—		—		(10.4	)	(7.6	)	—		0.7		(17.3	)
Loss on disposal of assets	0.7		—		(1.6	)	(0.9	)	—		—		(1.8	)
Non-cash pension, accretion and stock compensation	(0.4	)	(0.4	)	(2.2	)	(1.8	)	(4.8	)	—		(9.6	)
Relocation and severance	—		(0.2	)	(0.8	)	(0.2	)	(0.6	)	—		(1.8	)
Consulting fees	—		—		—		—		(1.8	)	—		(1.8	)
Cash settlements on hedging transactions	—		—		(0.1	)	(2.4	)	—		—		(2.5	)
Other, net	0.1		(0.3	)	(0.1	)	—		(3.7	)	(1.7	)	(5.7	)
Operating income (loss)	12.0		57.3		67.6		14.8		(33.6	)	(0.9	)	117.2
Interest expense, net													16.4
Gain on hedging activities, net													(65.6	)
Debt refinancing expense													—
Total other income, net													(49.2	)
Income before income taxes													166.4

	September 30, 2012		December 31, 2011
Segment assets:	$		$
Bauxite	149.9		148.3
Alumina	243.2		241.7
Primary Aluminum	549.3		574.5
Flat-Rolled Products	387.5		367.5
Corporate	90.9		83.6
Eliminations	(41.1	)	(38.1	)
Total assets	1,379.7		1,377.5

12

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

3.SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION

Consolidated statements of cash flows:

Depreciation and amortization in the accompanying unaudited consolidated statements of cash flows comprised depreciation of property, plant and equipment and other, amortization of intangible assets and amortization of other long-term assets as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Depreciation of property, plant and equipment	20.9	21.4	62.0	63.9
Amortization of intangible assets	1.5	1.4	4.5	4.4
Amortization of other long-term assets	1.2	2.2	3.7	4.8
Total depreciation and amortization	23.6	25.0	70.2	73.1

Cash paid for interest and income taxes was as follows (in millions):

	Nine months ended September 30,
	2012	2011
	$	$
Interest paid	19.9	2.1
U.S. Federal and state income taxes paid, net of refunds received	32.5	59.8
Jamaican income taxes paid	—	4.0

Purchases of property, plant and equipment accrued in accounts payable and not yet paid were $8.3 million and $3.4 million for the nine months ended September 30, 2012 and 2011, respectively, and were not reflected as capital expenditures in the unaudited consolidated statements of cash flows. For the nine months ended September 30, 2012 and 2011, we capitalized interest of $0.8 million and $0.6 million, respectively, related to long-term capital projects.

During second quarter 2012, we received net proceeds of $4.5 million upon the sale of idle mill equipment from our Flat Rolled Products segment. This gain is included in (gain) loss on disposal of assets in the unaudited consolidated statement of cash flows for the nine months ended September 30, 2012. Gains and losses on disposal of assets are reported net as a component of selling, general and administrative expenses in the accompanying unaudited statements of operations.

Consolidated statements of equity:

Changes in accumulated other comprehensive income (loss) ("AOCI") were as follows (in millions):

	Unrealized net actuarial gain (loss), prior service cost and other related to pension and OPEB	Accumulated tax benefit (expense) related to unrealized net actuarial gain/loss, prior service cost and other related to pension and OPEB	Unrealized gain (loss) on derivatives	Accumulated tax benefit (expense) related to unrealized gain or loss on derivatives	Total, net of tax
Balance, December 31, 2010	(99.4)	36.8	207.1	(75.0)	69.5
Amounts recorded to AOCI for the period	(70.4)	26.6	(14.3)	5.3	(52.8)
Reclassification of amounts realized in net income	6.0	(2.2)	(98.7)	35.8	(59.1)
Balance, December 31, 2011	(163.8)	61.2	94.1	(33.9)	(42.4)
Amounts recorded to AOCI for the period	(16.7)	6.1	(3.5)	1.3	(12.8)
Reclassification of amounts realized in net income	8.6	(3.2)	(64.3)	23.4	(35.5)
Balance, September 30, 2012	(171.9)	64.1	26.3	(9.2)	(90.7)

13

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

Consolidated balance sheets:

Cash and cash equivalents consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Cash	33.9	39.8
Money market funds	—	2.9
Total cash and cash equivalents	33.9	42.7

Accounts receivable, net, consisted of the following (in millions):

	September 30, 2012		December 31, 2011
	$		$
Trade	122.9		107.7
Allowance for doubtful accounts	(0.1	)	(0.1	)
Total accounts receivable, net	122.8		107.6

Other current assets consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Current foreign deferred tax asset	3.0	3.3
Employee loans receivable, net	2.3	2.2
Current derivative assets (see Note 11, "Derivative Financial Instruments")	3.2	2.0
Restricted cash (see Note 7, "Commitments and Contingencies")	—	30.1
Other current assets	3.8	3.7
Total other current assets	12.3	41.3

Other assets consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Deferred financing costs, net of amortization	10.0	8.1
Cash surrender value of life insurance	25.3	25.1
Pension asset (see Note 10, "Pensions and Other Post-Retirement Benefits")	7.4	7.0
Restricted cash (see Note 9, "Asset Retirement and Other Obligations")	12.7	12.7
Supplies	13.6	12.7
Prepaid Jamaican income taxes	6.0	6.0
Derivative asset	0.5	—
Other	11.1	10.0
Total other assets	86.6	81.6

14

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

Accrued liabilities consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Compensation and benefits	16.2	22.5
Workers’ compensation	5.2	4.6
Other operating expenses	16.3	11.1
Power rate case related accruals (see Note 7, "Commitments and Contingencies")	—	30.1
Accrued interest	5.4	2.4
Asset retirement obligations (see Note 9, "Asset Retirement and Other Obligations")	2.4	1.8
Land obligation (see Note 9 "Asset Retirement and Other Obligations")	4.8	4.3
Reclamation obligation (see Note 9, "Asset Retirement and Other Obligations")	0.8	2.8
Environmental remediation obligations (see Note 7 "Commitments and Contingencies")	1.8	1.9
Obligations to the Government of Jamaica (see Note 17, "Non-Controlling Interest")	5.4	4.7
Pension and OPEB liabilities (see Note 10, "Pensions and Other Post-Retirement Benefits")	0.9	0.9
Restricted stock unit ("RSU") liability awards (see Note 13, "Share-Based Payments")	0.1	0.2
Total accrued liabilities	59.3	87.3

Other long-term liabilities consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Reserve for uncertain tax positions	0.8	0.8
Workers’ compensation	14.7	13.1
Asset retirement obligations (see Note 9, "Asset Retirement and Other Obligations")	13.3	13.9
Land obligation (see Note 9, "Asset Retirement and Other Obligations")	9.1	8.9
Reclamation obligation (see Note 9, "Asset Retirement and Other Obligations")	1.4	1.8
Environmental remediation obligations (see Note 7, "Commitments and Contingencies")	2.2	2.2
Deferred compensation and other	6.5	5.5
Total other long-term liabilities	48.0	46.2

4.FAIR VALUE MEASUREMENTS

The tables below set forth by level the fair value hierarchy of our assets and liabilities that were measured at fair value on a recurring basis (in millions):

	September 30, 2012
	Level 1		Level 2		Level 3	Total
	$		$		$	$
Derivative assets	—		6.0		—	6.0
Derivative liabilities	—		(13.1	)	—	(13.1	)
RSU liability awards	(0.1	)	—		—	(0.1	)
Total	(0.1	)	(7.1	)	—	(7.2	)

	December 31, 2011
	Level 1		Level 2		Level 3	Total
	$		$		$	$
Cash equivalents	2.9		—		—	2.9
Derivative assets	—		2.5		—	2.5
Derivative liabilities	—		(41.5	)	—	(41.5	)
RSU liability awards	(0.2	)	—		—	(0.2	)
Total	2.7		(39.0	)	—	(36.3	)

Cash equivalents as of December 31, 2011 were temporary cash investments with high credit quality financial institutions, which included money market funds invested in U.S. treasury securities, short-term treasury bills and commercial paper. These instruments were valued based upon unadjusted, quoted prices in active markets and were classified within Level 1. We held no cash equivalents as of September 30, 2012.

Fair values of all derivative instruments were classified as Level 2 and were primarily measured using industry standard models that incorporated inputs including quoted forward prices for commodities, interest rate curves, and current market prices for those assets and liabilities. Substantially all of the inputs are observable throughout the full term of the instrument. The counterparty of our derivative trades is Merrill Lynch, with the exception of a small portion of our other hedging contracts related to Midwest premiums.

In Note 13 "Share-Based Payments," we discuss RSU liability awards. The fair value of this Level 1 liability was determined based on the closing market price of our common stock at each balance sheet date.

In Note 8, "Long-Term Debt" we disclose the fair values of our debt instruments. The fair value of our AcquisitionCo Notes was based on recent market transactions and was classified as Level 2 within the hierarchy. While the AcquisitionCo Notes have quoted market prices used to determine fair value, we do not believe transactions of those instruments occur in sufficient frequency or volume for a Level 1 classification. The fair values of the Term B 2012 Loan and revolver were based on interest rates available at each balance sheet date. These instruments were also classified as Level 2.

We made no transfers between fair value hierarchy levels during third quarter 2012.

5.INVENTORIES

We use the LIFO method of valuing raw materials, work-in-process and finished goods inventories at our New Madrid smelter and our rolling mills. Supplies inventories at our rolling mills are valued at FIFO. Inventories at Gramercy and St. Ann and supplies at New Madrid are valued at weighted-average cost and are not subject to the LIFO adjustment. Gramercy and St. Ann inventories comprise approximately 27% and 26% of total inventories, at cost, at September 30, 2012 and December 31, 2011, respectively.

Inventories, net, consisted of the following (in millions):

	September 30, 2012		December 31, 2011
	$		$
Raw materials, at cost	65.0		71.2
Work-in-process, at cost	62.9		51.7
Finished goods, at cost	24.0		26.3
Total inventories, at cost	151.9		149.2
Last in first out adjustment	21.2		10.3
Lower of cost or market reserve	(7.8	)	(11.5	)
Inventories, at lower of cost or market	165.3		148.0
Supplies	37.6		38.5
Total inventories, net	202.9		186.5

6.PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment, net, consisted of the following (in millions):

	Estimated useful lives in years			September 30, 2012		December 31, 2011
				$		$
Land				49.8		49.2
Buildings and improvements	10	—	47	149.2		128.2
Machinery and equipment	3	—	50	863.8		831.3
Construction in progress				46.4		59.1
Property, plant and equipment, at cost				1,109.2		1,067.8
Accumulated depreciation				(416.1	)	(368.0	)
Total property, plant and equipment, net				693.1		699.8

15

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

7. COMMITMENTS AND CONTINGENCIES

Labor Commitments

We are a party to six collective bargaining agreements, each of which expires within the next five years. Our collective bargaining agreements are with the following unions: the United Steelworkers of America ("USWA"); the International Association of Machinists and Aerospace Workers; the University and Allied Workers Union ("UAWU"); the Union of Technical, Administrative and Supervisory Personnel ("UTASP"); and the Bustamante Industrial Trade Union ("BITU").

• A new agreement at our mining operations in St. Ann, Jamaica ("St. Ann") with the UTASP was signed in July 2012, which expires in December 2013.

• The agreement at St. Ann with the BITU expires in December 2012. This contract covers a small portion of our St. Ann workforce.

• On August 31, 2012, the Company reached an agreement with the USWA to temporarily extend the New Madrid aluminum smelter collective bargaining agreement, which had been scheduled to expire that day. A new five-year contract with the USWA, representing approximately 80% of our New Madrid workforce, was ratified on September 7, 2012. The newly ratified agreement will expire in August of 2017.

• Thethree-year contract in place with the USWA, representing our unionized employees at the Salisbury rolling mill, will expire in November of 2012. This contract covers approximately 88% of our Salisbury workforce.

Legal Contingencies

We are a party to legal proceedings incidental to our business. We assess the likelihood of an unfavorable outcome of each legal proceeding based upon the available facts and our historical experience with similar matters. We do not accrue a liability when we assess the likelihood of an unfavorable outcome to be remote. Where the risk of loss is probable and the costs can be reasonably estimated, we accrue a liability based on the factors mentioned above. Where the risk of loss is considered reasonably possible, we estimate the range of reasonably possible losses and disclose any reasonably possible losses, if material. We update our loss assessment as matters progress over time. Based on current knowledge, we do not believe any reasonably possible losses in excess of our accruals would be material to our unaudited consolidated financial statements.

Environmental Matters

We cannot predict what environmental laws or regulations will be enacted or amended in the future, how existing or future laws or regulations will be interpreted or enforced or the amount of future expenditures that may be required to comply with such laws or regulations. Such future requirements may result in liabilities which may have a material adverse effect on our financial condition, results of operations or cash flows.

The Environmental Protection Agency ("EPA") has developed National Ambient Air Quality Standards ("NAAQS") for six compounds currently identified as criteria pollutants. The NAAQS establishes acceptable ambient air levels of each pollutant based on a review of their effects to human health and the environment. Sulfur dioxide ("SO₂"), an emission from our New Madrid smelter facility, is one such criteria pollutant. To determine our smelter's compliance with NAAQS, we measure emissions using currently acceptable methods.

In 2010, the EPA issued regulations that increased the stringency of the SO₂ NAAQS. Federal and state regulators are in the process of developing measurement methods and time lines that will govern the implementation of those regulations. Once finalized, these implementation requirements may present material implications for our smelter's compliance with NAAQS. Failure to meet NAAQS may require us to incur significant capital or operational costs to bring our smelter into compliance and could have negative implications for permits necessary to support increases in production volumes at our smelter.

Power Contract

Electricity is our largest cash cost component in the production of primary aluminum and is a key factor to our long-term competitive position in the primary aluminum business. We have a power purchase agreement with Ameren pursuant to which we have agreed to purchase substantially all of New Madrid’s electricity through May 2020. Included in the contract is a minimum purchase requirement equal to five mega watts, calculated at peak and non-peak demand charges, or approximately $4.0 million over the remaining life of the contract. This minimum purchase requirement represents significantly less power usage than we require, given the power-intensive nature of our smelter facility. Our current rate structure with Ameren consists of two components: a base rate and a fuel adjustment clause ("FAC").

On September 3, 2010, Ameren filed a new rate case with the Missouri Public Service Commission ("MoPSC") seeking an 11.0% base rate increase. In July 2011, the MoPSC ruled on this rate case approving Ameren to increase its base rates, which increased our base rate by 5.2% effective July 31, 2011.

16

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

We are currently a party to the appeal of several rate-related issues, including rate increases approved by the MoPSC in May 2010 and July 2011 and the amount of cost increases related to the FAC. Despite these appeals, our unaudited consolidated financial statements reflect our payment of power costs at the enacted rates, with disputed amounts held in escrow by the Missouri Circuit Court. As of December 31, 2011, other current assets (see Note 3, "Supplemental Financial Statement Information" to our accompanying unaudited condensed consolidated financial statements) included $30.1 million, held in escrow related to these appeals, with a corresponding liability recorded in accrued liabilities. On November 7, 2011, the Missouri Court of Appeals issued a decision to uphold the MoPSC's January 2009 rate increase approval, and as a result, the escrowed funds were released to Ameren during first quarter 2012. The release of these funds did not result in any impact to our operating results, our net working capital, or our net assets. We had no disputed amounts held in escrow as of September 30, 2012.

On February 3, 2012, Ameren filed a new rate case with the MoPSC seeking a 14.6% base rate increase. As we have in previous rate cases, we expect to be an active participant in the MoPSC rate setting process. Any increase approved would be effective at the beginning of the month following the MoPSC's ruling. We expect a ruling on this request by January 3, 2013.

8.LONG-TERM DEBT

The carrying values and fair values of our outstanding debt were as follows (in millions):

	September 30, 2012					December 31, 2011
	Carrying value		Fair value	Interest rate		Carrying value		Fair value	Interest rate
	$		$	%		$		$	%
Senior Floating Rate Notes due 2015 ("AcquisitionCo Notes")	275.3		261.5	4.73	%	350.3		324.0	4.66	%
Term B Loan, net	321.2		321.2	5.75	%	78.2		78.2	2.05	%
Revolver	—		—			—		—
Total debt, net	596.5					428.5
Less: Current portion	(3.3	)				(2.4	)
Long-term debt, net	593.2					426.1

2012 Refinancing

In first quarter 2012, we refinanced our existing senior secured credit facilities and entered into the new senior secured credit facilities consisting of the 2012 Term B Loan ($325.0 million) and the 2012 Revolver (up to $250.0 million.) We also repaid the remaining $78.2 million balance of our existing term loan. We refer to this transaction as the "2012 Refinancing." We are required to repay $0.8 million of the 2012 Term B Loan quarterly.

Using proceeds from the 2012 Refinancing, in first quarter 2012, Noranda AcquisitionCo repurchased $75.0 million in aggregate principal amount of AcquisitionCo Notes ("the 2012 Tender Offer"). Noranda AcquisitionCo paid a total of $73.9 million, including fees, in connection with the 2012 Tender Offer. The 2012 Refinancing and the 2012 Tender Offer resulted in a $169.4 million increase in our outstanding indebtedness.

We recorded debt refinancing expense of $8.1 million related to the 2012 Refinancing, comprising $5.7 million of creditor fees related to the new senior secured credit facilities and $2.4 million of deferred financing fees related to the existing senior secured credit facilities.

As of September 30, 2012, we had $321.2 million outstanding under the 2012 Term B Loan, which is recorded in our accompanying unaudited consolidated balance sheet net of $2.3 million of unamortized discount. The 2012 Revolver had no outstanding balance and outstanding letters of credit totaled $36.1 million at September 30, 2012. Our borrowing base under the 2012 Revolver is equal to the lesser of (i) $250.0 million or (ii) a calculated borrowing base. The calculated borrowing base fluctuates monthly based on the value of inventory and accounts receivable, which are influenced heavily by the LME aluminum price. Because our Revolver Fixed-Charge Coverage Ratio was less than the minimum ratio required under our debt agreements as of September 30, 2012, we must maintain at least $20.0 million of available borrowing capacity under our 2012 Revolver. This restriction will be removed when the ratio meets the required threshold. Had this restriction been in effect as of September 30, 2012, our effective calculated borrowing base would have been $132.8 million.

In September 2012, Standard & Poor's downgraded our corporate credit rating to B from B+, with a stable outlook.

17

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

9.ASSET RETIREMENT AND OTHER OBLIGATIONS

Reclamation Obligation

St. Ann has an obligation to rehabilitate land disturbed by St. Ann's Bauxite mining operations.

Our reclamation obligations activity at St. Ann follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	4.6
Additional liabilities incurred	1.5
Liabilities settled	(4.0	)
Accretion	0.1
Balance, end of period	2.2

Land Obligation

In cases where land to be mined is privately owned, St. Ann acquires the right to mine either through a purchase of the land or by compensating the owner for disturbing the owner's surface rights. In the case of a purchase of the land, the consideration is typically cash and or a commitment to resettle the owner to another area ("St. Ann Land Obligation"). Additional consideration is paid for crops, homes, and other structures that may exist on the land but which may be destroyed or damaged by the mining activities.

Our St. Ann Land Obligation activity follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	13.2
Additional liabilities incurred	1.6
Liabilities settled	(0.9	)
Balance, end of period	13.9

Asset Retirement Obligations

Our asset retirement obligations consist of costs related to the disposal of certain spent pot liners associated with the New Madrid smelter, as well as costs associated with the future closure and post-closure care of "red mud lakes" at the Gramercy facility, where Gramercy disposes of wastes from its refining process. Asset retirement obligations are estimated based on cash flows discounted at a credit-adjusted risk-free rate.

Our asset retirement obligations activity follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	15.7
Additional liabilities incurred	0.9
Liabilities settled	(1.5	)
Accretion	0.6
Balance, end of period	15.7

As of September 30, 2012 and December 31, 2011, we had $9.2 million of restricted cash in an escrow account as security for the payment of red mud lake closure obligations that will arise under state environmental laws if we were to cease operations at the Gramercy facility. This amount is included in other assets in the accompanying unaudited consolidated balance sheets. The remaining restricted cash in other assets relates primarily to funds for workers’ compensation claims.

Environmental Remediation Obligations

In addition to our asset retirement obligations, we have identified certain environmental conditions requiring remedial action or ongoing monitoring at the Gramercy refinery. As of September 30, 2012 and December 31, 2011, we had undiscounted liabilities of $1.8 million and $1.9 million, respectively, in accrued liabilities and $2.2 million, in other long-term liabilities at each period end, for remediation of Gramercy’s known environmental conditions. Approximately $0.8 million of the recorded liability represents monitoring

18

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

costs which will be incurred ratably over a 30 year period. The remainder is related to clean-up costs expected to be incurred between 2012 and 2014. These estimates are subject to change based on cost. No other responsible parties are involved in any ongoing environmental remediation activities.

10.PENSIONS AND OTHER POST-RETIREMENT BENEFITS

We sponsor defined benefit pension plans for hourly and salaried employees. Benefits under our sponsored defined benefit plans are based on years of service and/or eligible compensation prior to retirement. We also sponsor OPEB plans for certain employees. These benefits include life and health insurance. In addition, we provide supplemental executive retirement benefits for certain executive officers.

On September 7, 2012, we ratified a new labor contract with the USWA at our New Madrid smelter, which includes changes to pension benefits for approximately 80% of our New Madrid workforce. The increase in benefits increased our pension liability and our unrecognized pension loss in accumulated other comprehensive income by $16.7 million (pre-tax), which we recorded during third quarter 2012. Net periodic cost for the three and nine months ended September 30, 2012 increased $0.1 million as a result of the increase in pension benefits.

Net periodic benefit costs related to the pension plans included the following (in millions):

	Noranda Pension Plans				St. Ann Pension Plans
	Three months ended September 30,				Three months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Service cost	3.4		2.7		0.2		0.2
Interest cost	4.5		4.5		0.4		0.4
Expected return on plan assets	(4.7	)	(4.9	)	(0.6	)	(0.5	)
Recognized actuarial loss	2.8		1.3		—		—
Amortization of prior service cost	0.1		0.1		—		—
Net periodic cost	6.1		3.7		—		0.1

	Noranda Pension Plans				St. Ann Pension Plans
	Nine months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Service cost	10.0		7.9		0.6		0.5
Interest cost	13.4		13.7		1.2		1.1
Expected return on plan assets	(14.2	)	(14.7	)	(1.7	)	(1.4	)
Recognized actuarial loss	8.3		3.9		—		—
Amortization of prior service cost	0.3		0.3		—		0.1
Net periodic cost	17.8		11.1		0.1		0.3

Net periodic benefit costs related to the OPEB plans included the following (in millions):

	Noranda OPEB Plans		St. Ann OPEB Plans
	Three months ended September 30,		Three months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Service cost	0.1	0.1	0.1	0.1
Interest cost	0.2	0.1	0.1	0.2
Recognized actuarial loss	—	—	—	0.1
Net periodic cost	0.3	0.2	0.2	0.4

19

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

	Noranda OPEB Plans		St. Ann OPEB Plans
	Nine months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Service cost	0.3	0.3	0.3	0.3
Interest cost	0.5	0.3	0.3	0.6
Recognized actuarial loss	—	—	—	0.2
Net periodic cost	0.8	0.6	0.6	1.1

Expected Employer Contributions

We contributed $22.8 million and $0.5 million to the Noranda Pension Plans and the St. Ann Pension Plans, respectively, during the nine months ended September 30, 2012. We anticipate making approximately $4.8 million of pension funding payments in fourth quarter 2012.

11.DERIVATIVE FINANCIAL INSTRUMENTS

We use derivative instruments to mitigate the risks associated with fluctuations in aluminum prices, natural gas prices and interest rates. All derivatives are held for purposes other than trading.

Fixed price aluminum swaps. In 2007 and 2008, we implemented a hedging strategy designed to reduce commodity price risk and protect operating cash flows in the Primary Aluminum segment through the use of fixed price aluminum sale swaps. In addition, during first quarter 2009, we entered into fixed price aluminum purchase swaps to lock in a portion of the favorable market position of our fixed price aluminum sale swaps. In March 2009, we entered into a hedge settlement agreement with Merrill Lynch to provide a mechanism for us to monetize our favorable net fixed price swap positions to fund debt repurchases, subject to certain limitations.

In May 2010, we settled all of our remaining fixed price aluminum swaps and used the proceeds to repay indebtedness. As of September 30, 2012, we had no outstanding fixed price aluminum swaps.

Fixed-price customer arrangements. From time to time, we enter into forward contracts with our customers to sell aluminum in the future at fixed prices in the normal course of business. Prior to fourth quarter 2011, we made a determination under ASC 815-10-15 "Derivatives and Hedging" to elect normal sale accounting on our sales contracts. Beginning in fourth quarter 2011, we began not to elect normal sale accounting on certain of these customer contracts and began to record those contracts as derivatives ("fixed-price aluminum customer contracts"). Because these fixed-price customer contracts expose us to aluminum market price fluctuations, we economically hedge this risk by entering into variable price aluminum swap contracts ("variable-price aluminum offset swaps") with various brokers, typically for terms less than one year.

As of September 30, 2012, our outstanding fixed-price aluminum customer contracts were as follows:

	Average hedged price per pound	Pounds hedged
Year	$	(in millions)
2012	1.04	17.3
2013	1.06	42.3

As of September 30, 2012, our outstanding variable-price aluminum offset swaps were as follows:

	Average hedged price per pound	Pounds hedged
Year	$	(in millions)
2012	0.96	22.7
2013	0.95	46.5

Natural gas swaps. We purchase natural gas to meet our production requirements. These purchases expose us to the risk of fluctuating natural gas prices. To offset changes in the Henry Hub Index Price of natural gas, we enter into financial swaps, by purchasing the fixed forward price for the Henry Hub Index and simultaneously entering into an agreement to sell the actual Henry Hub Index Price.

20

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

As of September 30, 2012, our outstanding natural gas swaps were as follows:

	Average price per million BTUs	BTUs hedged
Year	$	(in millions)
2012	7.46	2.0

Fixed-price natural gas contract. In March 2012, we exercised a provision in the natural gas supply contract for our alumina refinery to set fixed prices for 7.7 million BTUs of the refinery's anticipated natural gas usage in the period from April through October 2012. In May 2012, we set fixed prices for an additional 3.0 million BTUs for the remaining anticipated usage through December 2012. We record these contracts as derivatives, based on the fair value of the Henry Hub Index. As of September 30, 2012, 3.6 million BTUs remain economically hedged.

We recognize all derivative instruments as either assets or liabilities at their estimated fair value in our accompanying unaudited consolidated balance sheets. The following table presents the carrying values, which were recorded at fair value, of our derivative instruments outstanding (in millions):

	September 30, 2012		December 31, 2011
	$		$
Fixed-price aluminum customer contracts	(1.9	)	2.0
Variable-price aluminum offset swaps and other	2.3		(7.5	)
Natural gas swaps	(8.3	)	(33.5	)
Natural gas fixed-price contract	0.8		—
Total	(7.1	)	(39.0	)

Merrill Lynch is the counterparty for a substantial portion of our derivatives. All swap arrangements with Merrill Lynch are part of a master arrangement which is subject to the same guarantee and security provisions as our senior secured credit facilities. The master arrangement does not require us to post additional collateral, or cash margin. We present the fair values of derivatives where Merrill Lynch is the counterparty in a net position on the consolidated balance sheets as a result of our master netting agreement. The following is a presentation of the gross components of our net derivative balances (in millions):

	September 30, 2012		December 31, 2011
	$		$
Current derivative assets	5.5		2.5
Current derivative liabilities	(12.7	)	(41.4	)
Current derivative assets (liabilities), net	(7.2	)	(38.9	)
Long-term derivative assets	0.5		—
Long-term derivative liabilities	(0.4	)	(0.1	)
Long-term derivative assets (liabilities), net	0.1		(0.1	)

The following is a gross presentation of the derivative balances segregated by type of contract and between derivatives that are designated and qualify for hedge accounting and those that are not (in millions):

	September 30, 2012					December 31, 2011
	Derivatives that qualify for hedge accounting		Derivatives that do not qualify for hedge accounting			Derivatives that qualify for hedge accounting			Derivatives that do not qualify for hedge accounting
	Asset	Liability	Asset	Liability		Asset	Liability		Asset	Liability
Fixed-price aluminum customer contracts	—	—	0.9	(2.8	)	—	—		2.0	—
Variable-price aluminum offset swaps and other	—	—	4.3	(2.0	)	—	—		0.5	(8.0	)
Natural gas swaps	—	—	—	(8.3	)	—	(21.9	)	—	(11.6	)
Natural gas fixed-price contract	—	—	0.8	—		—	—		—	—
Total	—	—	6.0	(13.1	)	—	(21.9	)	2.5	(19.6	)

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of any gain or loss on the derivative is reported as a component of AOCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings.

21

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

• Fixed-price aluminum swaps. From January 1, 2008 to January 29, 2009, fixed price aluminum-swaps were designated and qualified as cash flow hedges. As a result of the New Madrid power outage in January 2009, we concluded that certain hedged sale transactions were no longer probable of occurring, and we discontinued hedge accounting for all our aluminum fixed price sale swaps on January 29, 2009. At that date, amounts were frozen in AOCI until such time as they are reclassified into earnings in the period the hedged sales occur, or until it is determined that the original forecasted sales are probable of not occurring. During third quarter 2012, we determined that certain of the forecasted sales transactions were no longer probable of occurring and as a result, we reclassified $2.6 million of gains into earnings, which is reflected in Gain on Hedging Activities for the three and nine months ended September 30, 2012.

• Natural gas swaps. We entered into certain natural gas contracts during the fourth quarter of 2009 that qualified for and were designated as cash flow hedges based on a portion of estimated consumption of natural gas. As a result of entering into the fixed-price natural gas contract discussed above, we discontinued hedge accounting for those swaps covered under that contract. As a result, during March 2012 and May 2012, amounts were frozen in AOCI and will be reclassified into earnings in the period the hedged transactions occur.

The following table presents the net amount of unrealized gains (losses) on cash flow hedges as of September 30, 2012 that were reported as a component of AOCI and are expected to be reclassified into earnings during the next twelve months (in millions):

	Net unrealized gains (losses) on cash flow hedges, pre-tax, in AOCI
	$
Fixed-price aluminum swaps	32.2
Natural gas swaps	(5.9	)
Total	26.3

Gains and losses on the derivatives representing hedge ineffectiveness are recognized in current earnings, along with amounts that are reclassified from AOCI; however, these amounts were not material for the periods presented. Derivatives that do not qualify for hedge accounting or have not been designated for hedge accounting treatment are adjusted to fair value through earnings in gains (losses) on hedging activities in the unaudited consolidated statements of operations.

22

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

The following table presents how our hedging activities affected our unaudited consolidated statements of operations for each period (in millions):

	Derivatives qualified as hedges		Derivatives not qualified as hedges
	Amount reclassified from AOCI		Change in fair value		Total (gain) loss on hedging activities
	$		$		$
Three months ended September 30, 2011:
Fixed-price aluminum swaps	(30.7	)	—		(30.7	)
Variable-price aluminum offset swaps and other	—		6.0		6.0
Natural gas swaps	3.6		1.6		5.2
Total	(27.1	)	7.6		(19.5	)
Three months ended September 30, 2012:
Fixed-price aluminum swaps	(31.7	)	—		(31.7	)
Fixed-price aluminum customer contracts	—		7.1		7.1
Variable-price aluminum offset swaps and other	—		(6.3	)	(6.3	)
Natural gas swaps	6.4		(0.3	)	6.1
Natural gas fixed-price contract	—		(0.6	)	(0.6	)
Total	(25.3	)	(0.1	)	(25.4	)
Nine months ended September 30, 2011:
Fixed-price aluminum swaps	(84.1	)	—		(84.1	)
Variable-price aluminum offset swaps and other	—		4.9		4.9
Natural gas swaps	10.6		2.9		13.5
Interest rate swaps	—		0.1		0.1
Total	(73.5	)	7.9		(65.6	)
Nine months ended September 30, 2012:
Fixed-price aluminum swaps	(83.9	)	—		(83.9	)
Fixed-price aluminum customer contracts	—		3.9		3.9
Variable-price aluminum offset swaps and other	—		(2.2	)	(2.2	)
Natural gas swaps	19.6		0.9		20.5
Natural gas fixed-price contract	—		(0.8	)	(0.8	)
Total	(64.3	)	1.8		(62.5	)

12.SHAREHOLDERS' EQUITY

Dividends declared and paid during the nine months ended September 30, 2012 were as follows:

Declaration date	Per share dividend amount	Date paid	Total cash payment
	$/share		$ in millions
February 15, 2012	0.04	March 21, 2012	2.6
February 29, 2012	1.25	March 19, 2012	84.3
April 24, 2012	0.04	May 30, 2012	2.6
July 24, 2012	0.04	August 29, 2012	2.7

On October 24, 2012, the Board declared a regular quarterly dividend of $0.04 per share to be paid on November 28, 2012 to shareholders of record as of November 5, 2012. Cash payments related to this dividend will total approximately $2.7 million.

23

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

13.SHARE-BASED PAYMENTS

We recorded stock compensation expense as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Stock options	0.1	0.3	0.4	2.3
Restricted stock and restricted stock unit equity awards	0.8	0.6	3.3	1.6
Restricted stock unit liability awards	—	—	0.2	0.5
Total stock compensation expense	0.9	0.9	3.9	4.4

Share-based payment awards held by employee and non-employee directors include stock options, restricted stock, and restricted stock units ("RSUs"). Restricted stock and RSU awards have either service-vesting and/or performance-vesting requirements. We account for RSUs granted to the investor director provider group, which consists of the five full-time employees of our principal shareholders affiliated with Apollo Management VI ("Apollo") who serve on our board of directors, as liability awards.

During first quarter 2012, in respect of the supplemental dividend of $1.25 discussed in Note 12, "Shareholders' Equity", holders of stock options and of service-vesting restricted stock and RSUs received $1.25 for each share underlying such awards. We accelerated $1.2 million of stock compensation expense in connection with this payment. Holders of performance-vesting restricted stock and RSUs were granted additional performance-vesting restricted stock or RSUs, as applicable, with respect to the $1.25 per share supplemental dividend. The number of additional shares or units was computed by dividing the amount of the dividend the award holder would have received for a number of shares of our common stock equal to the number subject to the applicable award divided by the fair market value of a share of our common stock on the last trading day before the dividend payment date. These additional shares or units are subject to the same vesting conditions as the underlying awards. Generally, holders of service-vesting and performance-vesting restricted stock and RSUs were granted additional shares or units, with respect to the $0.04 per share regular quarterly dividends in the first, second and third quarters of 2012. The number of additional shares or units was computed by dividing the amount of dividend the award holder would have received had the holder owned a number of shares equal to the number subject to the applicable award by the fair market value of a share of our common stock on the last trading day before the date of the dividend payment. These additional shares or units are subject to the same vesting conditions as the underlying award.

As of September 30, 2012, total unrecognized stock compensation expense related to share-based payment awards was $5.6 million. We will recognize this amount over a weighted-average period of 1.5 years. We have not yet recognized stock compensation expense for performance-vesting restricted stock or RSUs because the performance conditions had not been determined as of September 30, 2012. Outstanding share-based payment awards include dividend equivalent units issued to restricted stock and RSU holders in connection with dividend payments to shareholders.

Our stock option activity was as follows:

	Employee options and non-employee director options				Investor director provider options
	Common shares		Weighted-average exercise price	Intrinsic value (in millions)	Common shares	Weighted-average exercise price	Intrinsic value (in millions)
			$	$		$	$
Outstanding, December 31, 2011	1,637,431		1.81	13.4	140,000	9.00	—
Exercised	(309,442	)	1.89	1.9	—	—
Outstanding, September 30, 2012	1,327,989		1.90	6.5	140,000	9.00	—
Fully vested and exercisable, September 30, 2012 (weighted-average remaining contractual term of 4.8 years and 5.1 years, respectively)	935,158		2.11	4.4	140,000	9.00	—

Options that were not in-the-money at December 31, 2011 and September 30, 2012, and therefore have a negative intrinsic value, have been excluded from intrinsic value calculations.

24

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

Restricted stock and RSU equity award activity was as follows:

	Service-vesting restricted stock and RSUs			Performance-vesting restricted stock and RSUs
	Awards		Weighted-average grant date fair value	Awards (target)
	#		$	#
Non-vested, December 31, 2011	479,465		13.66	260,866
Granted	407,760		11.75	462,053
Dividend equivalent units granted	11,466		7.94	97,321
Vested (aggregate intrinsic value of $1.5 million)	(126,928	)	14.19	—
Forfeited	(12,094	)	13.67	(4,758	)
Non-vested, September 30, 2012 (aggregate intrinsic value of $10.5 million)	759,669		12.46	815,482

We determine grant date fair value of service-vesting restricted stock and RSUs based on the closing price of our common stock on the grant date. We estimate a forfeiture rate for share-based payment awards based on historical forfeiture rates of similar awards, which was 7% for restricted stock and RSUs granted to employees during 2012. We expect all share-based payment awards granted to executives and directors to vest. Service-vesting restricted stock and RSUs will generally vest over three years, on the anniversary of the grant date, in the following increments: 25% on the first anniversary, 25% on the second anniversary and 50% on the third anniversary. A grant date had not been determined for performance-vesting awards as of September 30, 2012, because the performance conditions had not yet been determined.

As of September 30, 2012 and December 31, 2011, our accrued liabilities in the accompanying unaudited consolidated balance sheets included $0.1 million and $0.2 million related to RSU liability awards.

RSU liability award activity was as follows:

	RSUs
	#
Non-vested, December 31, 2011	34,148
Granted	25,000
Dividend equivalent units granted	457
Vested	(34,442	)
Non-vested, September 30, 2012	25,163

14.NET INCOME PER COMMON SHARE

Basic and diluted net income per common share ("EPS") were calculated as follows (in millions, except per share):

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Net income	$	3.8	$	30.8	$	45.3	$	116.5
Weighted-average common shares outstanding:
Basic	67.68		67.23		67.49		67.00
Effect of dilutive securities	1.44		1.26		1.61		1.32
Diluted	69.12		68.49		69.10		68.32
Net income per common share:
Basic	$	0.06	$	0.46	$	0.67	$	1.74
Diluted	$	0.05	$	0.45	$	0.66	$	1.71

25

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

Certain share-based payment awards whose terms and conditions are described in Note 13 "Share-Based Payments" could potentially dilute basic EPS in the future, but were not included in the computation of diluted EPS because to do so would have been antidilutive. Those antidilutive securities were as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
Antidilutive securities	0.68	—	0.50	—

15.INCOME TAXES

Our effective income tax rate was approximately 33.3% for the third quarter 2012 and was 17.9% for the third quarter 2011. The effective tax rate for both periods was impacted by state income taxes, the Internal Revenue Code Section 199 manufacturing deduction, and accrued interest related to unrecognized tax benefits. The effective income tax rate for third quarter 2011 was impacted by the release of a portion of our reserve for uncertain tax positions which reduced third quarter 2011 income tax expense.

Our effective income tax rate was approximately 33.4% for the nine months ended September 30, 2012 and was 30.0% for the nine months ended September 30, 2011. The effective tax rate for both periods was primarily impacted by state income taxes, the Internal Revenue Code Section 199 manufacturing deduction, and accrued interest related to unrecognized tax benefits.

16.RELATED PARTY TRANSACTIONS

We sell flat-rolled products to two customers that are affiliated with Apollo. Sales to these companies were as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Berry Plastics Corporation	2.5	2.1	7.1	7.1
Metals USA Holdings Corp.	3.4	4.2	9.1	11.5

Accounts receivable from these related parties were as follows (in millions):

	September 30, 2012	December 31, 2011
	$	$
Berry Plastics Corporation	0.7	0.4
Metals USA Holdings Corp.	1.2	3.7

In connection with the 2012 Refinancing, we paid $0.7 million in fees to Apollo Global Securities, LLC, an affiliate of Apollo that participated in the arrangement and structuring of the 2012 Refinancing.

17.NON-CONTROLLING INTEREST

Through St. Ann, we hold a 49% partnership interest in Noranda Jamaica Bauxite Partners ("NJBP"), in which the GOJ holds a 51% interest. NJBP mines bauxite, approximately 50% of which was sold to Gramercy during 2011, with the remaining majority sold to Sherwin Alumina Company.

Under an establishment agreement between our subsidiary, Noranda Bauxite Limited ("NBL"), and the GOJ, NBL committed to make certain expenditures for haulroad development, maintenance, dredging, land purchases, contract mining, training and other general capital expenditures from 2009 through 2014. If we do not meet our commitment to the GOJ regarding these expenditures, we would owe to the GOJ a penalty that could be material to our consolidated financial statements. We believe there is a remote possibility that we will not meet the commitment.

We have determined that NJBP is a variable interest entity under U.S. GAAP, and St. Ann is NJBP’s primary beneficiary. The determination that St. Ann is the primary beneficiary was based on the fact that St. Ann absorbs the profits and losses associated with the partnership, while the GOJ receives certain fees from St. Ann (royalties, production and asset usage fees, etc.). We consolidate NJBP into our consolidated financial statements as follows (in millions):

26

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

	September 30, 2012						December 31, 2011
	NJBP balances		Impact of Eliminations		Impact on consolidated statements		NJBP balances		Impact of Eliminations		Impact on consolidated statements
	$		$		$		$		$		$
Cash and cash equivalents	0.4		—		0.4		1.9		—		1.9
Accounts receivable, net	12.6		(12.6	)	—		11.2		(11.2	)	—
Inventories, net (consisting of maintenance supplies, inventory and fuel)	14.1		—		14.1		12.0		—		12.0
Other current assets	2.5		—		2.5		2.1		—		2.1
Property, plant and equipment, net	40.1		—		40.1		38.4		—		38.4
Other assets	4.5		—		4.5		5.2		—		5.2
Accounts payable	(56.5	)	45.8		(10.7	)	(50.1	)	42.8		(7.3	)
Accrued liabilities	(3.7	)	—		(3.7	)	(4.3	)	—		(4.3	)
Environmental, land and reclamation liabilities	(2.2	)	—		(2.2	)	(4.6	)	—		(4.6	)
Non-controlling interest	(6.0	)	—		(6.0	)	(6.0	)	—		(6.0	)
NBP’s net investment and advances to NJBP	5.8		33.2		39.0		5.8		31.6		37.4

18.SUBSIDIARY ISSUER OF GUARANTEED NOTES

The AcquisitionCo Notes are fully and unconditionally guaranteed on a senior unsecured, joint and several basis by the existing and future wholly owned domestic subsidiaries of Noranda AcquisitionCo that guarantee the senior secured credit facilities. NHB and St. Ann are not guarantors of the senior secured credit facilities and, are not guarantors of the AcquisitionCo Notes. Noranda HoldCo fully and unconditionally guarantees the AcquisitionCo Notes on a joint and several basis with the subsidiary guarantors. The guarantee by Noranda HoldCo is not required by the indenture governing the AcquisitionCo Notes and may be released by Noranda HoldCo at any time. Noranda HoldCo has no independent operations or any assets other than its interest in Noranda AcquisitionCo. Noranda AcquisitionCo is a wholly owned finance subsidiary of Noranda HoldCo with no operations independent of its subsidiaries.

The following unaudited condensed consolidating financial statements present separately the financial condition and results of operations and cash flows for Noranda HoldCo (as parent guarantor), Noranda AcquisitionCo (as the issuer), the subsidiary guarantors, the subsidiary non-guarantors and eliminations ("the guarantor financial statements"). The guarantor financial statements have been prepared and presented in accordance with SEC Regulation S-X Rule 3-10 "Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered."

The accounting policies used in the preparation of the guarantor financial statements are consistent with those found elsewhere in the accompanying unaudited consolidated financial statements. Intercompany transactions have been presented gross in the guarantor financial statements; however these transactions eliminate in consolidation.

We have reduced the amount for other intangible assets in the Subsidiary guarantors' column by $6.0 million in the following unaudited consolidating balance sheet as of December 31, 2011 to reclassify an intercompany elimination among subsidiary guarantors which had been incorrectly included within the Eliminations column.

27

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Balance Sheet

September 30, 2012

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations		Consolidated
	$		$		$		$		$		$
ASSETS
Current assets:
Cash and cash equivalents	0.8		29.9		1.3		1.9		—		33.9
Accounts receivable, net:
Trade	—		—		118.6		4.2		—		122.8
Affiliates	22.1		11.9		1.6		20.7		(56.3	)	—
Inventories, net	—		—		177.0		27.6		(1.7	)	202.9
Taxes receivable	7.8		—		0.8		(0.3	)	—		8.3
Prepaid expenses	0.2		—		10.9		8.4		—		19.5
Other current assets	—		—		5.4		6.9		—		12.3
Total current assets	30.9		41.8		315.6		69.4		(58.0	)	399.7
Investments in affiliates	353.4		1,508.0		—		—		(1,861.4	)	—
Advances due from affiliates	—		119.8		669.1		63.5		(852.4	)	—
Property, plant and equipment, net	—		—		632.5		60.6		—		693.1
Goodwill	—		—		137.6		—		—		137.6
Other intangible assets, net	—		—		62.7		—		—		62.7
Other assets	—		10.0		55.4		21.2		—		86.6
Total assets	384.3		1,679.6		1,872.9		214.7		(2,771.8	)	1,379.7
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable:
Trade	—		0.1		94.8		11.0		—		105.9
Affiliates	—		22.1		20.7		13.5		(56.3	)	—
Accrued liabilities	0.1		5.4		32.4		21.4		—		59.3
Derivative liabilities, net	—		—		10.4		—		—		10.4
Deferred tax liabilities	0.4		2.1		3.7		—		—		6.2
Current portion of long-term debt	—		3.3		—		—		—		3.3
Total current liabilities	0.5		33.0		162.0		45.9		(56.3	)	185.1
Long-term debt, net	—		593.2		—		—		—		593.2
Long-term derivative liabilities, net	—		—		0.4		—		—		0.4
Pension and other "OPEB" liabilities	—		—		171.3		7.8		—		179.1
Other long-term liabilities	—		(0.1	)	37.3		10.8		—		48.0
Advances due to affiliates	183.6		668.8		—		—		(852.4	)	—
Long-term deferred tax liabilities	39.2		31.3		134.6		3.5		(1.7	)	206.9
Common stock subject to redemption	2.0		—		—		—		—		2.0
Shareholders’ equity:
Preferred stock	—		—		—		—		—		—
Common stock	0.7		—		—		—		—		0.7
Capital in excess of par value	232.5		352.1		1,199.7		83.7		(1,635.5	)	232.5
Retained earnings (accumulated deficit)	16.5		92.0		255.7		59.6		(407.3	)	16.5
Accumulated other comprehensive income (loss)	(90.7	)	(90.7	)	(88.1	)	(2.6	)	181.4		(90.7	)
Total shareholders' equity	159.0		353.4		1,367.3		140.7		(1,861.4	)	159.0
Non-controlling interest	—		—		—		6.0		—		6.0
Total equity	159.0		353.4		1,367.3		146.7		(1,861.4	)	165.0
Total liabilities and equity	384.3		1,679.6		1,872.9		214.7		(2,771.8	)	1,379.7

28

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Balance Sheet

December 31, 2011

(in millions)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations		Consolidated
	$		$		$		$		$		$
ASSETS
Current assets:
Cash and cash equivalents	3.3		31.3		3.3		4.8		—		42.7
Accounts receivable, net:
Trade	—		—		102.5		5.1		—		107.6
Affiliates	21.7		11.9		0.7		21.6		(55.9	)	—
Inventories, net	—		—		163.5		24.3		(1.3	)	186.5
Prepaid expenses	0.2		—		6.4		6.7		—		13.3
Other current assets	—		—		33.2		8.1		—		41.3
Total current assets	25.2		43.2		309.6		70.6		(57.2	)	391.4
Investments in affiliates	422.3		1,451.5		—		—		(1,873.8	)	—
Advances due from affiliates	—		91.9		682.5		63.4		(837.8	)	—
Property, plant and equipment, net	—		—		642.5		57.3		—		699.8
Goodwill	—		—		137.6		—		—		137.6
Other intangible assets, net	—		—		67.1		—		—		67.1
Other assets	—		8.1		53.0		20.5		—		81.6
Total assets	447.5		1,594.7		1,892.3		211.8		(2,768.8	)	1,377.5
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable:
Trade	—		—		88.3		7.6		—		95.9
Affiliates	—		21.7		21.6		12.6		(55.9	)	—
Accrued liabilities	0.2		2.4		63.4		21.3		—		87.3
Taxes payable	1.7		—		0.6		0.3		—		2.6
Derivative liabilities net	—		—		40.9		—		—		40.9
Deferred tax liabilities	0.1		—		35.8		—		—		35.9
Current portion of long-term debt	—		2.4		—		—		—		2.4
Total current liabilities	2.0		26.5		250.6		41.8		(55.9	)	265.0
Long-term debt	—		426.1		—		—		—		426.1
Long-term derivative liabilities, net	—		—		0.1		—		—		0.1
Pension and other "OPEB" liabilities	—		—		168.3		7.4		—		175.7
Other long-term liabilities	—		0.1		35.3		10.8		—		46.2
Advances due to affiliates	152.2		685.6		—		—		(837.8	)	—
Long-term deferred tax liabilities	37.7		34.1		128.8		3.5		(1.3	)	202.8
Common stock subject to redemption	2.0		—		—		—		—		2.0
Shareholders’ equity:
Preferred stock	—		—		—		—		—		—
Common stock	0.7		—		—		—		—		0.7
Capital in excess of par value	231.9		352.1		1,199.7		83.7		(1,635.5	)	231.9
Retained earnings (accumulated deficit)	63.4		112.6		149.3		61.2		(323.1	)	63.4
Accumulated other comprehensive income (loss)	(42.4	)	(42.4	)	(39.8	)	(2.6	)	84.8		(42.4	)
Total shareholders’ equity	253.6		422.3		1,309.2		142.3		(1,873.8	)	253.6
Non-controlling interest	—		—		—		6.0		—		6.0
Total equity	253.6		422.3		1,309.2		148.3		(1,873.8	)	259.6
Total liabilities and equity	447.5		1,594.7		1,892.3		211.8		(2,768.8	)	1,377.5

29

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Statement of Operations

Three months ended September 30, 2012

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations		Consolidated
	$		$		$		$		$		$
Sales	—		—		323.2		33.6		(20.0	)	336.8
Operating costs and expenses:
Cost of sales	—		—		311.0		32.3		(20.0	)	323.3
Selling, general and administrative expenses	1.3		0.1		19.9		3.0		—		24.3
Total operating costs and expenses	1.3		0.1		330.9		35.3		(20.0	)	347.6
Operating loss	(1.3	)	(0.1	)	(7.7	)	(1.7	)	—		(10.8	)
Other (income) expense:
Interest expense (income), net	(0.1	)	9.1		(0.1	)	—		—		8.9
Gain on hedging activities, net	—		—		(25.4	)	—		—		(25.4	)
Total other (income) expense, net	(0.1	)	9.1		(25.5	)	—		—		(16.5	)
Income (loss) before income taxes	(1.2	)	(9.2	)	17.8		(1.7	)	—		5.7
Income tax (benefit) expense	(0.4	)	(3.0	)	5.9		(0.6	)	—		1.9
Equity in net income (loss) of subsidiaries	4.6		10.8		—		—		(15.4	)	—
Net income (loss)	3.8		4.6		11.9		(1.1	)	(15.4	)	3.8
Other comprehensive income (loss)	(24.9	)	(24.9	)	(24.9	)	—		49.8		(24.9	)
Total comprehensive income (loss)	(21.1	)	(20.3	)	(13.0	)	(1.1	)	34.4		(21.1	)

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Statement of Operations

Three months ended September 30, 2011

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors	Eliminations		Consolidated
	$		$		$		$	$		$
Sales	—		—		383.0		40.9	(23.5	)	400.4
Operating costs and expenses:
Cost of sales	—		—		340.1		33.8	(23.5	)	350.4
Selling, general and administrative expenses	1.2		—		22.0		3.6	—		26.8
Total operating costs and expenses	1.2		—		362.1		37.4	(23.5	)	377.2
Operating income (loss)	(1.2	)	—		20.9		3.5	—		23.2
Other (income) expense:
Interest expense (income), net	(0.1	)	5.2		0.1		—	—		5.2
Gain on hedging activities, net	—		—		(19.5	)	—	—		(19.5	)
Total other (income) expense, net	(0.1	)	5.2		(19.4	)	—	—		(14.3	)
Income (loss) before income taxes	(1.1	)	(5.2	)	40.3		3.5	—		37.5
Income tax (benefit) expense	(0.2	)	(1.7	)	7.4		1.2	—		6.7
Equity in net income of subsidiaries	31.7		35.2		—		—	(66.9	)	—
Net income	30.8		31.7		32.9		2.3	(66.9	)	30.8
Other comprehensive income (loss)	(20.3	)	(20.3	)	(20.3	)	—	40.6		(20.3	)
Total comprehensive income (loss)	10.5		11.4		12.6		2.3	(26.3	)	10.5

30

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Statement of Operations

Nine months ended September 30, 2012

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations		Consolidated
	$		$		$		$		$		$
Sales	—		—		1,024.7		99.1		(61.8	)	1,062.0
Operating costs and expenses:
Cost of sales	—		—		929.0		92.2		(61.8	)	959.4
Selling, general and administrative expenses	5.1		0.8		49.6		9.3		—		64.8
Total operating costs and expenses	5.1		0.8		978.6		101.5		(61.8	)	1,024.2
Operating income (loss)	(5.1	)	(0.8	)	46.1		(2.4	)	—		37.8
Other (income) expense:
Interest expense (income), net	(0.3	)	24.5		—		—		—		24.2
Gain on hedging activities, net	—		—		(62.5	)	—		—		(62.5	)
Debt refinancing expense	—		8.1		—		—		—		8.1
Total other (income) expense, net	(0.3	)	32.6		(62.5	)	—		—		(30.2	)
Income (loss) before income taxes	(4.8	)	(33.4	)	108.6		(2.4	)	—		68.0
Income tax (benefit) expense	(1.5	)	(11.2	)	36.2		(0.8	)	—		22.7
Equity in net income (loss) of subsidiaries	48.6		70.8		—		—		(119.4	)	—
Net income (loss)	45.3		48.6		72.4		(1.6	)	(119.4	)	45.3
Other comprehensive income (loss)	(48.3	)	(48.3	)	(48.3	)	—		96.6		(48.3	)
Total comprehensive income (loss)	(3.0	)	0.3		24.1		(1.6	)	(22.8	)	(3.0	)

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Statement of Operations

Nine months ended September 30, 2011

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors	Eliminations		Consolidated
	$		$		$		$	$		$
Sales	—		—		1,169.4		115.3	(63.4	)	1,221.3
Operating costs and expenses:
Cost of sales	—		—		1,001.9		93.3	(63.4	)	1,031.8
Selling, general and administrative expenses	5.5		0.3		56.4		10.1	—		72.3
Total operating costs and expenses	5.5		0.3		1,058.3		103.4	(63.4	)	1,104.1
Operating income (loss)	(5.5	)	(0.3	)	111.1		11.9	—		117.2
Other (income) expense:
Interest expense (income), net	(0.3	)	16.6		0.1		—	—		16.4
Gain on hedging activities, net	—		—		(65.6	)	—	—		(65.6	)
Total other (income) expense, net	(0.3	)	16.6		(65.5	)	—	—		(49.2	)
Income (loss) before income taxes	(5.2	)	(16.9	)	176.6		11.9	—		166.4
Income tax (benefit) expense	(1.3	)	(5.6	)	52.8		4.0	—		49.9
Equity in net income of subsidiaries	120.4		131.7		—		—	(252.1	)	—
Net income	116.5		120.4		123.8		7.9	(252.1	)	116.5
Other comprehensive income (loss)	(51.6	)	(51.6	)	(51.6	)	—	103.2		(51.6	)
Total comprehensive income (loss)	64.9		68.8		72.2		7.9	(148.9	)	64.9

31

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Consolidating Statement of Cash Flows

Nine months ended September 30, 2012

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations	Consolidated
	$		$		$		$		$	$
OPERATING ACTIVITIES
Cash provided by (used in) operating activities	—		(63.9	)	46.4		3.7		—	(13.8	)
INVESTING ACTIVITIES
Capital expenditures	—		—		(53.2	)	(6.6	)	—	(59.8	)
Proceeds from sale of property, plant and equipment	—		—		4.8		—		—	4.8
Cash used in investing activities	—		—		(48.4	)	(6.6	)	—	(55.0	)
FINANCING ACTIVITIES
Proceeds from issuance of common shares, equity offerings	0.5		—		—		—		—	0.5
Dividends paid to shareholders	(92.2	)	—		—		—		—	(92.2	)
Distributions paid to share-based award holders	(3.1	)	—		—		—		—	(3.1	)
Repurchase of shares	(0.4	)	—		—		—		—	(0.4	)
Repayments of long-term debt	—		(154.8	)	—		—		—	(154.8	)
Borrowings on long-term debt, net	—		322.6		—		—		—	322.6
Payments of financing costs	—		(12.6	)	—		—		—	(12.6	)
Distribution (to parent) from subsidiary	92.7		(92.7	)	—		—		—	—
Cash provided by (used in) financing activities	(2.5	)	62.5		—		—		—	60.0
Change in cash and cash equivalents	(2.5	)	(1.4	)	(2.0	)	(2.9	)	—	(8.8	)
Cash and cash equivalents, beginning of period	3.3		31.3		3.3		4.8		—	42.7
Cash and cash equivalents, end of period	0.8		29.9		1.3		1.9		—	33.9

32

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Notes to Unaudited Consolidated Financial Statements

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Consolidating Statement of Cash Flows

Nine months ended September 30, 2011

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations	Consolidated
	$		$		$		$		$	$
OPERATING ACTIVITIES
Cash provided by (used in) operating activities	(1.9	)	65.5		38.0		8.7		—	110.3
INVESTING ACTIVITIES
Capital expenditures	—		—		(37.4	)	(6.7	)	—	(44.1	)
Proceeds from sale of property, plant and equipment	—		—		0.2		2.4		—	2.6
Cash used in investing activities	—		—		(37.2	)	(4.3	)	—	(41.5	)
FINANCING ACTIVITIES
Proceeds from issuance of common shares, equity offerings	0.6		—		—		—		—	0.6
Excess tax benefit related to share-based payment arrangements	0.7		—		—		—		—	0.7
Distribution (to parent) from subsidiary	0.9		(0.9	)	—		—		—	—
Cash provided by (used in) financing activities	2.2		(0.9	)	—		—		—	1.3
Change in cash and cash equivalents	0.3		64.6		0.8		4.4		—	70.1
Cash and cash equivalents, beginning of period	7.3		20.4		2.5		3.6		—	33.8
Cash and cash equivalents, end of period	7.6		85.0		3.3		8.0		—	103.9

33

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations

Except as otherwise indicated herein or as the context otherwise requires, references in this report to (a) "Noranda HoldCo" refer only to Noranda Aluminum Holding Corporation, a Delaware corporation, excluding its subsidiaries, (b) "Noranda AcquisitionCo" refer only to Noranda Aluminum Acquisition Corporation, a Delaware corporation and wholly owned subsidiary of Noranda HoldCo, excluding its subsidiaries, and (c) "Noranda," the "Company," "we," "our," and "us" refer collectively to Noranda HoldCo and its subsidiaries on a consolidated basis. "AcquisitionCo Notes" refer to senior floating rate notes due 2015 issued by Noranda AcquisitionCo.

Overview

We are a leading North American integrated producer of value-added primary aluminum and high quality rolled aluminum coils. We have two businesses: our upstream business and downstream business. Our upstream business consists of three reportable segments: Primary Aluminum, Alumina, and Bauxite. These three segments are closely integrated and consist of a smelter near New Madrid, Missouri, which we refer to as "New Madrid," and supporting operations at our bauxite mine and alumina refinery. In 2011, New Madrid produced approximately 583 million pounds (264,000 metric tonnes) of primary aluminum, representing approximately 13% of total 2011 U.S. primary aluminum production, based on statistics from CRU, an independent mining and metals consultancy group. Our downstream business comprises our Flat-Rolled Products segment, which is one of the largest aluminum foil producers in North America and consists of four rolling mill facilities with a combined maximum annual production capacity of 410 to 495 million pounds, depending on production mix.

Our third quarter 2012 operating results reflect continued decline in the London Metal Exchange ("LME") aluminum price. The impact of a lower LME aluminum price was compounded by seasonal peak power rates at New Madrid, lower external shipment volumes, and costs associated with the negative effects of Hurricane Isaac in the Alumina segment and production variability in the Primary and Flat-Rolled Products segments. Although we believe demand for our products was stable across all segments, these location specific production variability issues had a negative impact on our shipment volumes.

• Lower prices negatively impacted our operating results by $61.1 million in third quarter 2012 relative to third quarter 2011, driven by lower LME aluminum prices.

◦ Persisting global macro-economic concerns, particularly the European sovereign-debt crisis and fears of slowing economic growth in China, have dampened LME aluminum prices since the second half of 2011. Substantially all of our external revenues are linked to the LME aluminum price, which averaged $0.87 per pound in third quarter 2012 compared to $1.09 per pound in third quarter 2011.

◦ In our Primary Aluminum segment, the effects of lower LME aluminum price levels have been partially offset by higher product premiums, particularly the Midwest Transaction Premium ("MWP"). The MWP increased to an average of $0.11 per pound in third quarter 2012 from a third quarter 2011 average of $0.08 per pound. Ouraverage realized price, the Midwest transaction price ("MWTP") inclusive of the MWP, was $0.96 in third quarter 2012 compared to $1.18 in third quarter 2011.

• Results for third quarter 2012 reflect a $5.9 million negative impact to segment profit from Hurricane Isaac, which made landfall near Gramercy, Louisiana on August 29, 2012. This $5.9 million impact is due to lost contribution margin, losses on replacement alumina, and production inefficiencies incurred while the refinery operated below normal levels.

◦ Third quarter 2012 integrated primary aluminum net cash cost ("Net Cash Cost") was $0.92 per pound shipped compared to $0.81 per pound in third quarter 2011. The effects of the disruption caused by the hurricane and production decreases at our smelter due to the timing and concentration of pots taken out of production to be rebuilt both contributed to the increase in Net Cash Cost.

• Over the course of 2011, the costs of certain raw material inputs, such as carbon-based products used in our Primary Aluminum segment and chemical products used in our Alumina segment, increased significantly. During 2012, those costs plateaued, and have begun to decline, resulting in generally more favorable raw material input costs in third quarter 2012 relative to third quarter 2011.

◦ Through the period of raw material inflation, we maintained our emphasis on driving cost savings through our CORE productivity program--achieving $8.6 million in cost savings in third quarter 2012, and a total of $109.5 million since the beginning of 2011.

Forward-looking Statements

This report on Form 10-Q contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements about future, not past, events and involve certain important risks and uncertainties, any of which could cause the Company's actual results to differ materially from those expressed in forward-looking statements, including, without limitation: the cyclical nature of the aluminum industry and fluctuating commodity prices, which cause variability in earnings and cash flows; a downturn in general economic conditions, including changes in interest rates, as well as a downturn in the end-use markets for certain of the Company's products; fluctuations in the relative cost of certain raw materials and energy compared to the price

34

of primary aluminum and aluminum rolled products; the effects of competition in Noranda's business lines; Noranda's ability to retain customers, a substantial number of which do not have long-term contractual arrangements with the Company; the ability to fulfill the business's substantial capital investment needs; labor relations (i.e. disruptions, strikes or work stoppages) and labor costs; unexpected issues arising in connection with Noranda's operations outside of the United States; the ability to retain key management personnel; and Noranda's expectations with respect to its acquisition activity, or difficulties encountered in connection with acquisitions, dispositions or similar transactions.

Forward-looking statements contain words such as "believes," "expects," "may," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or similar expressions that relate to Noranda's strategy, plans or intentions. All statements Noranda makes relating to its estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results or to the Company's expectations regarding future industry trends are forward-looking statements. Noranda undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law. Readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made and which reflect management's current estimates, projections, expectations or beliefs. All forward-looking statements herein are based upon information available to us on the date of this report on Form 10-Q

Important factors that could cause actual results to differ materially from our expectations, which we refer to as cautionary statements, are disclosed herein under Part II, Item 1A "Risk Factors," and in Item 1A in our Annual Report on Form 10-K for the year ended December 31, 2011. All forward-looking information in this report on Form 10-Q and subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by our cautionary statements. In light of these risks and uncertainties, the matters referred to in the forward-looking statements contained in this report on Form 10-Q may not in fact occur. Accordingly, investors should not place undue reliance on those statements. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.

Critical Accounting Policies and Estimates

Our accompanying unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP"). Preparation of these financial statements requires management to make significant judgments and estimates. See Item 2, "Management's Discussion and Analysis of Financial Condition and Results of Operations" and Note 1, "Accounting Policies" in our audited consolidated financial statements for the year ended December 31, 2011, included in our Annual Report on Form 10-K, as filed March 12, 2012, for a discussion of our critical accounting policies and estimates.

Goodwill Impairment

Goodwill represents the excess of acquisition consideration paid over the fair value of identifiable net tangible and identifiable intangible assets acquired. Goodwill and other indefinite-lived intangible assets are not amortized, but are reviewed for impairment at least annually, in the fourth quarter, or upon the occurrence of certain triggering events. We evaluate goodwill for impairment using a two-step process. The first step is to compare the fair value of each of our reporting units to their respective book values, including goodwill. If the fair value of a reporting unit exceeds its book value, reporting unit goodwill is not considered impaired and the second step of the impairment test is not required. If the book value of a reporting unit exceeds its fair value, the second step of the impairment test is performed to measure the amount of impairment loss, if any. The second step of the impairment test compares the implied fair value of the reporting unit's goodwill with the book value of that goodwill. If the book value of the reporting unit's goodwill exceeds the implied fair value of that goodwill, an impairment loss is recognized in an amount equal to that excess. The implied fair value of goodwill is determined in the same manner as the amount of goodwill recognized in a business combination.

The carrying value of our Primary Aluminum segment's goodwill was $137.6 million at September 30, 2012. As of October 1, 2011, the date of our last annual goodwill impairment, the fair value of the Primary Aluminum segment exceeded its carrying value by 11%. Our fair value analysis included assumptions about key factors affecting the Primary Aluminum segment's future profitability and cash flows. These key factors relate primarily to the long-term price for primary aluminum, as well as production inputs such as alumina, power, and carbon-based products. Should the Primary Aluminum segment's expected future cash flows decline beyond our current expectations, its goodwill may be at risk for impairment in the future. Factors that could cause such a decline include a sustained decline in demand for primary aluminum, a sustained downward shift in expected aluminum prices without corresponding decreases in expected prices for production inputs, or a significant increase in cash flow discount rates.

Inventory Valuation

An actual valuation of inventory under the last-in, first-out ("LIFO") method is made only at the end of each year based on the inventory costs at that time. Accordingly, interim LIFO calculations are based on management's estimates of expected year-end inventory costs. Because these calculations are subject to many factors beyond management's control, interim results are subject to the final year-end LIFO inventory valuation which could significantly differ from interim estimates. To estimate the effect of LIFO on interim periods, we calculate a LIFO reserve each quarter, giving consideration to expected year-end inventory pricing.

35

The following table illustrates the sensitivity of our LIFO adjustment by showing the amount by which pre-tax income would have changed for the nine months ended September 30, 2012, given certain specified changes in inventory costs:

Inventory item	Sensitivity	Increase (decrease) in pre-tax income ($ in millions)
Primary Aluminum segment:
Carbon-based products	10% increase in price	(1.5	)
Alumina	$0.10 increase in LME per pound	(1.9	)
Flat-Rolled Products segment:
Metal	$0.10 increase in LME per pound	(5.4	)

Results of operations

To aid the reader in understanding the results of operations of each of these distinctive periods, we have provided the following discussion. You should read the following discussion of the results of operations and financial condition with the unaudited consolidated financial statements and related notes included herein.

36

Results of Operations

The following table sets forth certain consolidated financial information for the periods ended September 30, 2012 and 2011 (in millions, except per share data and where noted):

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Statements of operations data:
Sales	336.8		400.4		1,062.0		1,221.3
Operating costs and expenses:
Cost of sales	323.3		350.4		959.4		1,031.8
Selling, general and administrative expenses	24.3		26.8		64.8		72.3
Total operating costs and expenses	347.6		377.2		1,024.2		1,104.1
Operating income (loss)	(10.8	)	23.2		37.8		117.2
Other expenses (income):
Interest expense, net	8.9		5.2		24.2		16.4
Gain on hedging activities, net	(25.4	)	(19.5	)	(62.5	)	(65.6	)
Debt refinancing expense	—		—		8.1		—
Total other income, net	(16.5	)	(14.3	)	(30.2	)	(49.2	)
Income before income taxes	5.7		37.5		68.0		166.4
Income tax expense	1.9		6.7		22.7		49.9
Net income	3.8		30.8		45.3		116.5
Net income per common share:
Basic	0.06		0.46		0.67		1.74
Diluted	0.05		0.45		0.66		1.71
Weighted-average common shares outstanding:
Basic	67.68		67.23		67.49		67.00
Diluted	69.12		68.49		69.10		68.32
Cash dividends declared per common share	0.04		—		1.37		—
Sales by segment:
Bauxite	33.6		40.9		99.1		115.4
Alumina	80.6		104.1		268.3		317.2
Primary Aluminum	147.2		187.7		471.3		561.1
Flat-Rolled Products	145.5		163.2		449.5		488.3
Eliminations	(70.1	)	(95.5	)	(226.2	)	(260.7	)
Total	336.8		400.4		1,062.0		1,221.3
Segment profit (loss):
Bauxite	0.3		6.8		3.9		19.2
Alumina	1.8		23.4		29.2		73.9
Primary Aluminum	3.1		21.8		51.9		117.6
Flat-Rolled Products	12.0		12.1		41.1		41.8
Corporate	(7.3	)	(8.0	)	(22.3	)	(21.8	)
Eliminations	0.2		(2.1	)	—		0.1
Total	10.1		54.0		103.8		230.8
Financial and other data:
Average realized Midwest transaction price (per pound)	0.96		1.18		1.01		1.21
Net Cash Cost (per pound shipped)	0.92		0.81		0.81		0.72
Shipments:
Third party shipments:
Bauxite (kMts)	666.1		619.9		1,676.9		1,853.9
Alumina (kMts)	150.7		160.2		479.0		482.2
Primary Aluminum (pounds, in millions)	120.0		123.8		369.1		383.0
Flat-Rolled Products (pounds, in millions)	97.6		94.9		292.8		286.3
Intersegment shipments:
Bauxite (kMts)	601.1		749.3		1,897.6		2,018.3
Alumina (kMts)	120.4		123.9		369.0		380.9
Primary Aluminum (pounds, in millions)	18.8		24.8		58.1		52.6

37

Discussion of quarterly consolidated operating results

Sales

Sales for third quarter 2012 were $336.8 million compared to $400.4 million in third quarter 2011, a decrease of 15.9%. Of the decrease in sales, $61.1 million was attributable to lower realized prices. LME aluminum prices averaged $0.87 per pound in third quarter 2012 compared to $1.09 per pound in third quarter 2011. Ouraverage realized MWTP, inclusive of the MWP, was $0.96 in third quarter 2012 compared to $1.18 in third quarter 2011.

Sales to external customers from our Primary Aluminum segment reflected a decrease of 18.9% to $129.1 million in third quarter 2012 from $159.2 million in third quarter 2011, driven by lower realized prices for aluminum and decreased shipment volumes.

• Average LME aluminum price declined as noted above and average realized MWTP for third quarter 2012 was $0.96 per pound, compared to $1.18 per pound in third quarter 2011.

• External shipment volumes in the Primary Aluminum segment showed a decrease of 3.1%, comparing third quarter 2012 to third quarter 2011, attributable to a difference in the timing of shipments, compounded by the timing and concentration of pots taken out of production to be rebuilt.

Sales to our external customers in our Flat-Rolled Products segment reflected a decrease of 10.8% to $145.5 million during third quarter 2012 from $163.2 million in third quarter 2011, primarily due to the decline in the average LME aluminum price, partially offset by slightly more favorable volume.

• Lower LME prices contributed $22.3 million to the sales decline. Fabrication premiums were relatively unchanged.

• Shipment volumes showed an increase of 2.8% or $4.6 million when compared to third quarter 2011in our Flat-Rolled Products segment.

Sales to external customers from our Bauxite and Alumina segments for third quarter 2012 were $13.6 million and $48.6 million, respectively, compared to $17.4 million and $60.6 million, respectively, in third quarter 2011. These decreases were primarily due to lower LME-linked realized pricing across both segments and lower external shipment volumes in the Alumina segment, due to the production disruption following Hurricane Isaac.

Cost of sales

Cost of sales for third quarter 2012 was $323.3 million compared to $350.4 million in third quarter 2011. The decrease in cost of sales is mainly the result of the decrease in LME prices combined with more favorable raw material prices.

Selling, general and administrative expenses

Selling, general and administrative expenses in the third quarter 2012 were $24.3 million, compared to $26.8 million in third quarter 2011. The majority of the decrease is attributable to lower incentive compensation expenses, due to the negative impacts on operating results from declining LME aluminum prices.

Operating income (loss)

Operating loss in third quarter 2012 was $10.8 million compared to $23.2 million of operating income in third quarter 2011. The decrease in operating income related to the sales margin decline, partially offset by the decrease in selling, general and administrative expenses.

Sales margin was $13.5 million for third quarter 2012 compared to $50.0 million in third quarter 2011. This decrease resulted from the unfavorable impacts of lower realized prices and shipment volumes, compounded by the effects of production variability in the Alumina, Primary, and Flat Rolled segments, offset by more favorable raw material prices.

Interest expense, net

In first quarter 2012, we refinanced our existing senior secured credit facilities and entered into our new senior secured credit facilities consisting of the 2012 Term B Loan ($325.0 million) and the 2012 Revolver (up to $250.0 million.) We also repaid the remaining $78.2 million balance of our existing loan. We refer to this transaction as the "2012 Refinancing." Using proceeds from the 2012 Refinancing, in first quarter 2012, Noranda AcquisitionCo repurchased $75.0 million in aggregate principal amount of AcquisitionCo Notes.

Due to the refinancing activities discussed above, our average outstanding indebtedness increased to $596.5 million in third quarter 2012 from $428.5 million in third quarter 2011. Interest expense during third quarter 2012increased to $8.9 million compared to $5.2 million in third quarter 2011.

Gain on hedging activities, net

Gain on hedging activities was $25.4 million in third quarter 2012 compared to $19.5 million in third quarter 2011. Reclassifications of aluminum and natural gas hedge gains and losses from AOCI into earnings in third quarter 2012 were $25.3 million, compared to $27.1 million in third quarter 2011.

38

Income before income taxes

Income before income taxes was $5.7 million in third quarter 2012, compared to $37.5 million in third quarter 2011. The special items outlined below significantly impacted the comparability of our pre-tax income (in millions):

	Three months ended September 30,
	2012		2011
	$		$
	Increase (decrease) to net income
Special items:
Release of indemnification receivables related to uncertain tax positions (1)	—		(3.4	)
Labor negotiation contingency cost (2)	(3.5	)	—
Gain on hedging activities	25.4		19.5
Total special items (pre-tax)	21.9		16.1

⁽¹⁾  In third quarter 2011, we expensed $3.4 million of an indemnification receivable from Xstrata through selling, general and administrative expenses because statutes to examine certain income tax returns expired. Net income was not impacted by the release of this indemnification receivable as a corresponding tax benefit of $3.4 million was recorded.

⁽²⁾  In third quarter 2012, we incurred $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of our collective bargaining agreement at our New Madrid smelter.

Income tax expense

Income tax expense was $1.9 million in third quarter 2012, compared to $6.7 million in third quarter 2011.

Our effective income tax rate was approximately 33.3% for the third quarter 2012 and was 17.9% for the third quarter 2011. The effective tax rate for both periods was primarily impacted by state income taxes, the Internal Revenue Code Section 199 manufacturing deduction, and accrued interest related to unrecognized tax benefits. The effective income tax rate for third quarter 2011 was impacted by the release of a portion of our reserve for uncertain tax positions which reduced third quarter 2011 income tax expense, as noted in the table above.

Net income

Net income was $3.8 million in third quarter 2012, compared to $30.8 million in third quarter 2011. The decrease in net income resulted from a $34.0 milliondecrease in operating income and a $3.7 millionincrease in interest expense offset by a $4.8 milliondecrease in income tax expense and a $5.9 millionincrease in gain on hedging activities.

Discussion of quarterly segment results

Bauxite

Bauxite segment sales for third quarter 2012 were $33.6 million, compared to $40.9 million for third quarter 2011. The sales volume decreased by 7.4%, a decrease related to the impact of lower volumes of $3.0 million, coupled with a $4.3 million impact of lower realized pricing.

Segment profit in third quarter 2012 was $0.3 million compared to $6.8 million in third quarter 2011. Compared to third quarter 2011, third quarter 2012 Bauxite segment profit decreased due primarily to lower LME-linked external bauxite prices and increased shipping demurrage costs.

Alumina

Alumina segment sales for third quarter 2012 were $80.6 million compared to $104.1 million for third quarter 2011. This decrease is primarily pricing related, as reflected by the LME-indexed nature of alumina pricing, coupled with a decline in production following Hurricane Isaac.

Segment profit in third quarter 2012 was $1.8 million compared to $23.4 million in third quarter 2011. In addition to the $5.9 million impact from the production disruption following Hurricane Isaac, alumina results reflect the negative impact of lower LME-indexed internal and external selling prices, which were partially offset by the favorable impact of lower natural gas prices.

Primary Aluminum

Primary Aluminum segment sales decreased to $147.2 million in third quarter 2012 from $187.7 million in third quarter 2011.

• An 18.6%decrease in average realized MWTP in third quarter 2012 compared to third quarter 2011decreased Primary Aluminum segment revenue by approximately $28.1 million.

• A 6.6%decrease in total primary aluminum shipments decreased revenue by approximately $12.4 million comparing third quarter 2012 to third quarter 2011.

39

Segment profit in third quarter 2012 was $3.1 million compared to $21.8 million in third quarter 2011. The decrease in segment profit resulted from lower 2012 LME aluminum prices, partially offset by more favorable alumina and carbon-based products raw materials pricing. Additionally, third quarter 2012 Primary Aluminum segment results were affected by $6.0 million of unfavorable production variabilities.

Flat-Rolled Products

Sales in our Flat-Rolled Products segment were $145.5 million in third quarter 2012 compared to $163.2 million in the third quarter 2011. The $17.7 milliondecrease was primarily due to the decrease in LME prices.

• Lower LME aluminum prices contributed $22.3 million to the sales decrease. Fabrication premiums were relatively unchanged.

• Shipment volumes increased compared to third quarter 2011, contributing $4.6 million to sales, partially offsetting the impact of lower LME aluminum prices.

Flat-Rolled Products segment costs were lower due to the decrease in the LME price, since the majority of flat rolled product cost represents the pass-through cost of metal.

Segment profit in third quarter 2012 was relatively unchanged at $12.0 million compared to $12.1 million in third quarter 2011.

Discussion of year-to-date consolidated operating results

Sales

Sales for the nine months ended September 30, 2012 were $1,062.0 million compared to $1,221.3 million in the nine months ended September 30, 2011, a decrease of 13.0%. Of the decrease in sales, $146.1 million was attributable to lower realized prices. LME aluminum price averaged $0.92 per pound in the nine months ended September 30, 2012 compared to $1.14 per pound in the nine months ended September 30, 2011.

The remaining $13.2 milliondecrease in sales was attributable primarily to lower Bauxite, Alumina and Primary Aluminum segment third-party volumes.

Sales to external customers from our Primary Aluminum segment decreased 17.2% to $413.1 million in the nine months ended September 30, 2012 from $498.8 million in the nine months ended September 30, 2011, driven primarily by lower realized prices for aluminum.

• Average LME aluminum price and average realized MWTP decreased as noted above for the nine months ended September 30, 2012 was $1.01 per pound, compared to $1.21 per pound in the nine months ended September 30, 2011.

• Demand in the Primary Aluminum segment remained strong in the nine months ended September 30, 2011, as billet and rod shipments increased. The decrease in external shipments from the Primary Aluminum segment was not due to a decline in underlying demand, rather was attributable to (i) the needs of the Flat-Rolled Products business in an environment of tight availability for physical metal, (ii) the timing and concentration of pots taken out of production to be rebuilt, and (iii) timing of shipments as we and our customers planned around the collective bargaining agreement negotiations.

Sales to our external customers in our Flat-Rolled Products segment decreased 7.9% to $449.5 million during the nine months ended September 30, 2012 from $488.3 million in the nine months ended September 30, 2011, primarily due to the decline in the average LME aluminum price, partially offset by slightly more favorable volume.

• Lower LME prices contributed $49.9 million to the sales decline. Fabrication premiums were relatively unchanged.

• Shipment volumes increased 2.3%, resulting in a sales increase of $11.1 million compared to third quarter 2011 in our Flat-Rolled Products segment.

Sales to external customers from our Bauxite and Alumina segments for the nine months ended September 30, 2012 were $37.3 million and $162.1 million, respectively, compared to $52.0 million and $182.2 million, respectively, in the nine months ended September 30, 2011. The decreases were primarily due to lower realized pricing across both segments and lower external shipment volumes in the Bauxite and Alumina segments.

Cost of sales

Cost of sales for the nine months ended September 30, 2012 was $959.4 million compared to $1,031.8 million in the nine months ended September 30, 2011. The decrease in cost of sales is mainly the result of the decrease in LME prices, reflected in the pass-through nature of the Flat-Rolled Products segment, and lower natural gas prices. These decreases were partially offset by the impact of raw material inflation in the Alumina segment.

Selling, general and administrative expenses

Selling, general and administrative expenses in the nine months ended September 30, 2012 were $64.8 million, compared to $72.3 million in the nine months ended September 30, 2011. The majority of the $7.5 milliondecrease is primarily related to a gain of

40

$4.5 million realized upon the sale of idle mill equipment in second quarter 2012, as well as lower incentive compensation expenses, due to the negative impacts on operating results from declining LME aluminum prices.

Operating income

Operating income in the nine months ended September 30, 2012 was $37.8 million compared to $117.2 million in the nine months ended September 30, 2011. The decrease in operating income related primarily to the sales margin decline.

Sales margin was $102.6 million for the nine months ended September 30, 2012 compared to $189.5 million in the nine months ended September 30, 2011. This decrease resulted from the unfavorable impacts of lower realized prices and shipment volumes, compounded by the effects of production variability in the Alumina, Primary, and Flat Rolled segments, offset by more favorable natural gas prices.

Interest expense, net

In first quarter 2012, we refinanced our existing senior secured credit facilities and entered into our new senior secured credit facilities consisting of the 2012 Term B Loan ($325.0 million) and the 2012 Revolver (up to $250.0 million.) We also repaid the remaining $78.2 million balance of our existing loan. We refer to this transaction as the "2012 Refinancing." Using proceeds from the 2012 Refinancing, in first quarter 2012, Noranda AcquisitionCo repurchased $75.0 million in aggregate principal amount of AcquisitionCo Notes.

Due to the refinancing activities discussed above, our average outstanding indebtedness increased to $565.2 million for the nine months ended September 30, 2012 from $424.6 million for the nine months ended September 30, 2011. As a result, interest expense in the nine months ended September 30, 2012increased to $24.2 million compared to $16.4 million in the nine months ended September 30, 2011.

Gain on hedging activities, net

Gain on hedging activities was $62.5 million in the nine months ended September 30, 2012 compared to $65.6 million in the nine months ended September 30, 2011. Reclassifications of aluminum and natural gas hedge gains and losses from AOCI into earnings in the nine months ended September 30, 2012 were $64.3 million compared to $73.5 million in the nine months ended September 30, 2011.

Debt refinancing expense

We recorded debt refinancing expense of $8.1 million related to the 2012 Refinancing, comprising $5.7 million of creditor fees related to the new senior secured credit facilities and $2.4 million of deferred financing fees related to existing senior secured credit facilities.

Income before income taxes

Income before income taxes was $68.0 million in the nine months ended September 30, 2012, compared to $166.4 million in the nine months ended September 30, 2011. The special items outlined below significantly impacted the comparability of our pre-tax income (in millions):

	Nine months ended September 30,
	2012		2011
	$		$
	Increase (decrease) to net income
Special items:
Transaction costs (1)	(8.6	)	—
Modification of stock options (2)	(1.2	)	—
Gain on sale of idle mill equipment	4.5		—
Release of indemnification receivables related to uncertain tax positions (3)	—		(3.4	)
Labor negotiation contingency cost (4)	(3.5	)	—
Gain on hedging activities	62.5		65.6
Total special items (pre-tax)	53.7		62.2

⁽¹⁾  Includes $8.1 million of costs related to the refinancing and the tender offer, including creditor and third-party fees as well as the write-off of deferred financing fees. This amount also includes $0.5 million of costs related to the public secondary offering of 10 million shares of our common stock by Apollo.

⁽²⁾  During first quarter 2012, holders of stock options, service-vesting restricted stock and restricted stock units were paid cash for the $1.25 per share supplemental dividend. We accelerated $1.2 million of share-based payment compensation expense in connection with this award modification.

⁽³⁾  In third quarter 2011, the Company expensed $3.4 million of an indemnification receivable from Xstrata through selling, general and administrative expenses because statutes to examine certain income tax returns expired. Net income was not impacted by the release of this indemnification receivable as a corresponding tax benefit of $3.4 million was recorded.

41

⁽⁴⁾  In third quarter 2012, we incurred $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of our collective bargaining agreement at our New Madrid smelter.

Income tax expense

Income tax expense was $22.7 million in the nine months ended September 30, 2012, compared to $49.9 million in the nine months ended September 30, 2011.

Our effective income tax rate was approximately 33.4% for the nine months ended September 30, 2012 and was 30.0% for the nine months ended September 30, 2011. The effective tax rate for both periods was primarily impacted by state income taxes, the Internal Revenue Code Section 199 manufacturing deduction, and accrued interest related to unrecognized tax benefits.

Net income

Net income was $45.3 million in the nine months ended September 30, 2012, compared to $116.5 million in the nine months ended September 30, 2011. The decrease in net income resulted from a $79.4 milliondecrease in operating income, a $3.1 milliondecrease in gain on hedging activities, the $8.1 million of debt refinancing expense and a $7.8 millionincrease in interest expense, offset by a $27.2 milliondecrease in income tax expense.

Discussion of year-to-date segment results

Bauxite

Bauxite segment sales for the nine months ended September 30, 2012 were $99.1 million, compared to $115.4 million for the nine months ended September 30, 2011. Sales volume decreased by 7.7% resulting in a $8.9 million unfavorable impact to sales, coupled with the $7.4 million impact of lower realized pricing.

Segment profit in the nine months ended September 30, 2012 was $3.9 million compared to $19.2 million in the nine months ended September 30, 2011. Compared to the nine months ended September 30, 2011, the nine months ended September 30, 2012 segment profit reflected the negative impact from lower LME-linked external bauxite prices, lower 2012 sales volumes and higher contract mining and operating costs.

Alumina

Alumina segment sales for the nine months ended September 30, 2012 were $268.3 million compared to $317.2 million for the nine months ended September 30, 2011. This decrease is primarily related to the LME-indexed nature of our alumina pricing arrangements.

Segment profit in the nine months ended September 30, 2012 was $29.2 million compared to $73.9 million in the nine months ended September 30, 2011. Compared to the nine months ended September 30, 2011, the nine months ended September 30, 2012 segment profit reflected the $43.3 million negative impact on internal and external revenues from lower LME-linked alumina prices and the $5.9 million negative impact from the production disruption following Hurricane Isaac. The impact of raw material inflation was offset by more favorable natural gas prices.

Primary Aluminum

Primary Aluminum segment sales decreased to $471.3 million in the nine months ended September 30, 2012 from $561.1 million in the nine months ended September 30, 2011.

• A 16.5%decrease in average realized MWTP in the nine months ended September 30, 2012 compared to the nine months ended September 30, 2011 decreased Primary Aluminum segment revenue by approximately $79.0 million.

• A 1.9%decrease in total primary aluminum shipments decreased segment revenue by approximately $10.8 million comparing the nine months ended September 30, 2012 to the nine months ended September 30, 2011. The decrease in external shipments was partially offset by increases in shipments to our rolling mills.

Segment profit in the nine months ended September 30, 2012 was $51.9 million compared to $117.6 million in the nine months ended September 30, 2011. The decrease in segment profit reflected the impact from significantly lower 2012 LME aluminum prices, offset in part by more favorable raw materials prices for alumina. The impact of the timing and concentration of pots taken out of production to be relined further decreased segment profit.

Flat-Rolled Products

Sales in our Flat-Rolled Products segment were $449.5 million in the nine months ended September 30, 2012 compared to $488.3 million in the the nine months ended September 30, 2011. The $38.8 milliondecrease was primarily due to the decrease in LME prices, offset by the impact of a 2.3%increase in shipment volume.

• Lower LME aluminum prices contributed $49.9 million to the sales decrease. Fabrication premiums were relatively unchanged.

• The increase in shipment volumes partially offset the impact of lower LME aluminum prices by contributing $11.1 million to sales.

42

Flat-Rolled Products segment costs were lower due to the decrease in the LME price, since the majority of flat rolled product cost represents the pass-through cost of metal.

Segment profit in nine months ended September 30, 2012 was $41.1 million compared to $41.8 million in the nine months ended September 30, 2011. Compared to the nine months ended September 30, 2011, nine months ended September 30, 2012 segment profit was relatively flat, which reflects the stable demand trends across key product groups in this segment.

Liquidity and Capital Resources

Our primary sources of liquidity are available cash balances, cash provided by operating activities and available borrowings under our 2012 Revolver.

On February 29, 2012, we entered into a new, seven year $325.0 million senior secured term loan facility agreement ("the 2012 Term B Loan"). We used 2012 Term B Loan proceeds to repay the remaining $78.2 million term loan balance outstanding under our previous senior secured credit facility and to fund a tender offer for $75.0 million in aggregate principal amount of our existing Senior Floating Rate Notes due 2015. We also used 2012 Term B Loan proceeds to pay a supplemental dividend of $1.25 per share, totaling approximately $87.4 million in aggregate. We also entered into a new asset-based revolving credit facility (up to $250.0 million) (the "2012 Revolver").

• In the nine months ended September 30, 2012, we used $13.8 million of cash for operating activities.

• At September 30, 2012, we had $33.9 million of cash and cash equivalents.

• At September 30, 2012, the 2012 Revolver was undrawn and we had $36.1 million in outstanding letters of credit. Our borrowing base under the 2012 Revolver is equal to the lesser of (i) $250.0 million or (ii) a calculated borrowing base. The calculated borrowing base fluctuates monthly based on the value of inventory and accounts receivable, which are influenced heavily by the LME aluminum price. Our calculated borrowing base was $152.8 million, net of outstanding letters of credit, as of September 30, 2012. Beginning in October 2012, we must maintain at least $20.0 million of available borrowing capacity under our 2012 Revolver because our Revolver Fixed-Charge Coverage Ratio (as defined below) was less than 1.0 to 1.0 as of September 30, 2012. This restriction will be removed when the ratio meets the required threshold. Had this restriction been effective at September 30, 2012, our effective calculated borrowing base would have been $132.8 million.

• In the nine months ended September 30, 2012, we made cash payments to shareholders and option holders totaling $92.2 million, and $3.1 million, respectively, related to regular and supplemental dividends.

In addition to financing the working capital needs of our business, our primary continuing liquidity requirements are to (i) fund capital expenditures and acquisitions, (ii) meet debt service obligations and (iii) pay dividends. Based on our current level of operations, we believe the combination of cash flow from operations and available cash and borrowings will be adequate to meet our short-term liquidity needs. Our ability to make scheduled payments of principal, pay interest on, or to refinance our indebtedness, to pay dividends or to fund planned capital expenditures, will depend on our ability to generate cash in the future. This ability is, to a certain extent, subject to general economic, financial, competitive, legislative, regulatory, and other factors that are beyond our control.

In September 2012, Standard & Poor's downgraded our corporate credit rating to B from B+, with a stable outlook.

As of September 30, 2012 and December 31, 2011, the carrying value of our long-term debt was as follows (in millions):

	September 30, 2012		December 31, 2011
	$		$
Senior Floating Rate Notes due 2015 ("AcquisitionCo Notes")	275.3		350.3
2012 Term B Loan	321.2		78.2
2012 Revolver	—		—
Total debt, net	596.5		428.5
Less: Current portion	(3.3	)	(2.4	)
Long-term debt, net	593.2		426.1

The following table sets forth unaudited condensed consolidated cash flow information for the periods indicated (in millions):

	Nine months ended September 30,
	2012		2011
	$		$
Cash provided by (used in) operating activities	(13.8	)	110.3
Cash used in investing activities	(55.0	)	(41.5	)
Cash provided by financing activities	60.0		1.3
Change in cash and cash equivalents	(8.8	)	70.1

43

Operating activities

Operating activities used $13.8 million of cash in the nine months ended September 30, 2012 compared to generating cash of $110.3 million in the nine months ended September 30, 2011. In the nine months ended September 30, 2012, we produced $74.1 million of Adjusted EBITDA, comprising $103.8 million of total segment profit less $29.7 million of cash payments on natural gas hedges (Adjusted EBITDA is defined and discussed under the following "Covenant Compliance and Financial Ratios" section).

As summarized in the table below, the variability in operating cash flow is driven primarily by different levels of segment profit and seasonal working capital changes in each of the quarters (in millions):

	Nine months ended September 30,
(in millions)	2012			2011
	$			$
Segment profit	$	103.8		$	230.8
Gas hedges	(29.7		)	(18.6		)
Other operating cash flows	(27.1		)	(20.1		)
Interest	(19.9		)	(4.4		)
Tax payments	(32.5		)	(63.8		)
Operating working capital	(8.4		)	(13.6		)
Cash provided by (used in) operating activities	$	(13.8	)	$	110.3

Investing activities

Capital expenditures were $59.8 million in the nine months ended September 30, 2012 and $44.1 million in the nine months ended September 30, 2011.

Purchases of property, plant and equipment accrued in accounts payable and not yet paid were $8.3 million and $3.4 million for the nine months ended September 30, 2012 and 2011, respectively, and are not reflected as capital expenditures in the unaudited consolidated statements of cash flows.

We evaluate spending on capital growth projects on an ongoing basis, taking into consideration the specific benefit, scope and timing of each project, as well as overall market conditions, including the LME aluminum price, and our future liquidity expectations. The following capital projects are in progress as of September 30, 2012:

• $38 million investment re-launched during late 2010 to improve operating reliability and expand aluminum production capacity at our New Madrid smelter. The project involves a combination of additional rectifiers and upgraded equipment allowing for increased aluminum production up to 35 million pounds ("the Rectifier Project"). The Rectifier Project has the added benefit of greater efficiency and reliability through upgrades and redundancy of equipment. We expect efficiency gains and reliability improvements to be achieved as rectifiers and equipment upgrades are installed, independent of any increase in production level, which is subject to the constraints below.

We spent $2.7 million on the Rectifier Project during the nine months ended September 30, 2012 and have spent $10.3 million since re-launching the project in late 2010. We anticipate the spending related to the achievement of reliability improvements, approximately $16 million, to be incurred primarily in 2013 and 2014, although we have yet to make commitments related to that spending and the timing of such commitments may be dependent on our liquidity profile. The timing of the remaining $12 million is dependent on overall market conditions, including the LME aluminum price, our liquidity profile, and the resolution of permitting regulations described in Note 7, Commitments and Contingencies.

• Two investments announced in July 2012 are still in their early phases. As such, we have yet to make significant resource commitments for those projects and the timing of such commitments may be dependent on our liquidity profile. These investments include a $45 million investment to build a new rod mill, the scope of which includes infrastructure development and construction of a new, state-of-the-art mill to produce redraw rod, and an $11 million investment to further expand harbor capacity at Port Rhodes in Discovery Bay, Jamaica.

Financing activities

During the nine months ended September 30, 2012, our financing cash flows mainly reflected the 2012 Refinancing. We borrowed $322.6 million under a new 2012 Term B Loan, net of a $2.4 million discount, repaid $78.2 million under the old 2007 Term B Loan and paid $75.0 million pursuant to the 2012 Tender Offering associated with the AcquisitionCo Notes. We incurred $12.6 million of financing costs associated with the 2012 Refinancing transactions. In addition, we paid $92.2 million in regular and supplemental dividends and paid $3.1 million in distributions to share-based award holders.

44

Dividends declared and paid during the nine months ended September 30, 2012 were as follows:

Declaration date	Per share dividend amount	Date paid	Total cash payment
	$/share		$ in millions
February 15, 2012	0.04	March 21, 2012	2.6
February 29, 2012	1.25	March 19, 2012	84.3
April 24, 2012	0.04	May 30, 2012	2.6
July 24, 2012	0.04	August 29, 2012	2.7

On October 24, 2012, the Board declared a regular quarterly dividend of $0.04 per share to be paid on November 28, 2012 to shareholders of record as of November 5, 2012. Cash payments related to this dividend will total approximately $2.7 million. The Board anticipates declaring this dividend in future quarters on a regular basis; however, changes in the Company's financial condition and cash needs could result in dividends being declared in different amounts, or not at all.

Covenant Compliance and Financial Ratios

Certain covenants contained in our debt agreements governing our senior secured credit facilities and the indentures governing our Notes restrict our ability to take certain actions if we are unable to meet certain ratios including, among others:(i) the ratio of our Adjusted EBITDA, calculated on a trailing four-quarter basis, to our fixed charges (the "Fixed-Charge Coverage Ratio") or (ii) the ratio of our Adjusted EBITDA, calculated on a trailing four-quarter basis and subtracting certain cash payments, including certain taxes, capital expenditures and dividends, to our fixed charges (the "Revolver Fixed-Charge Coverage Ratio") or (iii) the ratio of our senior first-lien secured net debt to our Adjusted EBITDA, calculated on a trailing four-quarter basis (the "Net Senior Secured Leverage Ratio"). The actions which could be restricted include incurring additional secured or unsecured debt, expanding borrowings under existing term loan facilities, paying dividends, engaging in mergers, acquisitions and certain other investments, and retaining proceeds from asset sales. Upon the occurrence of certain events, such as a change of control, we could be required to repay or refinance our indebtedness. Furthermore, our ability to take certain actions, including paying dividends and making acquisitions and certain other investments, depends on the amounts available for such actions under the applicable covenants, which amounts accumulate with reference to our Adjusted EBITDA, or our net income, on a quarterly basis.

Certain of the minimum or maximum ratio levels set forth in our covenants as conditions to our undertaking certain actions and our actual performance are summarized below:

		Requirements	Actual as of
			September 30, 2012	December 31, 2011
AcquisitionCo Notes (1)	Fixed Charge Coverage Ratio	Minimum 2.0 to 1.0	2.6 to 1.0	8.9 to 1.0
2012 Revolver (2)	Revolver Fixed Charge Coverage Ratio	Minimum 1.0 to 1.0	--	3.6 to 1.0
2012 Term B Loan and 2012 Revolver (3)	Total Net Senior First Lien Secured Leverage Ratio	Maximum 2.25 to 1.0	2.9 to 1.0	0.9 to 1.0

⁽¹⁾  For Noranda AcquisitionCo, fixed charges on a pro forma basis (giving effect to debt repayments) for the four quarters ended September 30, 2012 and the year ended December 31, 2011 were $38.0 million and $26.5 million, respectively.

⁽²⁾  As defined in the credit agreement governing 2012 Revolver, fixed charges for the four quarters ended September 30, 2012 and the year ended December 31, 2011 were $29.1 million and $34.7 million, respectively. For the four quarters ended September 30, 2012, our Revolver Fixed-Charge Coverage Ratio was less than 1.0 to 1.0.

⁽³⁾  As used in calculating this ratio, "senior first-lien secured net debt" means the amount outstanding under the 2012 Term B Loan and 2012 Revolver immediately following the 2012 Refinancing (for the actual ratio as of December 31, 2011) or outstanding as of September 30, 2012 (for the actual ratio as of September 30, 2012) and any debt secured by a first priority lien on assets of Noranda AcquisitionCo and/or any of its subsidiaries, less "unrestricted cash" and "permitted investments" (as defined under our 2012 Senior Secured Credit Facilities) up to a cap of $100.0 million. The ratios presented are assuming the 2012 Refinancing had been in place at December 31, 2011. Under this assumption, at September 30, 2012 and December 31, 2011, senior first lien secured debt was $323.4 million and $325.0 million, respectively, and unrestricted cash and permitted investments were $33.1 million and $100.0 million (including the approximate $73.0 million increase in cash immediately following the 2012 Refinancing and 2012 Tender Offer), respectively, resulting in senior first lien secured net debt of $290.3 million and $225.0 million, respectively.

Because we did not satisfy certain financial ratio levels relevant to these covenants as of September 30, 2012, we may be limited in our ability to expand borrowings under existing term loan facilities, incur additional secured or unsecured debt, make acquisitions or certain other investments, or engage in mergers and pay dividends. These restrictions do not interfere with the day-to-day-conduct of our business. Based on our debt agreement provisions pertaining to dividends, we do not expect these restrictions to affect our ability to continue paying the current $0.04 per share regular quarterly dividend in the foreseeable future, although our Board of Directors retains the ability to change the amount of such dividends, including the right not to declare any such dividends.

45

Because our Revolver Fixed-Charge Coverage Ratio was less than 1.0 to 1.0 as of September 30, 2012, we must maintain at least $20.0 million of available borrowing capacity under our 2012 Revolver. Our debt agreements do not otherwise require us to maintain any financial performance metric or ratio in order to avoid a default.

Management uses "Adjusted EBITDA" as a liquidity measure in respect of the Fixed-Charge Coverage Ratio, the Revolver Fixed-Charge Coverage Ratio and the Net Senior Secured Leverage Ratio, as defined in our debt agreements. As used herein, Adjusted EBITDA means net income before income taxes, net interest expense and depreciation and amortization, adjusted to eliminate certain non-cash expenses and other specified items of income or expense as outlined below (in millions):

	Three months ended September 30,				Nine months ended September 30,				Twelve months ended
									September 30,		December 31,
	2012		2011		2012		2011		2012		2011
	$		$		$		$		$		$
Adjusted EBITDA	0.5		54.0		74.1		212.2		97.7		235.8
Last in, first out and lower of cost or market inventory adjustments (a)	10.0		1.9		14.3		(17.3	)	19.0		(12.6	)
Gain (loss) on disposal of assets	(1.2	)	(0.3	)	1.4		(1.8	)	(0.1	)	(3.3	)
Non-cash pension, accretion and stock compensation	(4.0	)	(2.6	)	(13.1	)	(9.6	)	(15.9	)	(12.4	)
Relocation and severance	(0.1	)	(1.2	)	(0.5	)	(1.8	)	(1.6	)	(2.9	)
Consulting fees	(0.2	)	(1.4	)	(0.7	)	(1.8	)	(1.2	)	(2.3	)
Interest rate swap	—		—		—		(2.3	)	(2.3	)	(4.6	)
Debt refinancing expense	—		—		(8.1	)	—		(8.1	)	—
Non-cash derivative gains (b)	37.4		25.9		99.1		83.9		132.2		117.0
Other, net	(4.2	)	(8.6	)	(4.1	)	(5.6	)	(7.7	)	(9.2	)
Depreciation and amortization	(23.6	)	(25.0	)	(70.2	)	(73.1	)	(94.8	)	(97.7	)
Interest expense, net	(8.9	)	(5.2	)	(24.2	)	(16.4	)	(29.3	)	(21.5	)
Income tax	(1.9	)	(6.7	)	(22.7	)	(49.9	)	(18.2	)	(45.4	)
Net income	3.8		30.8		45.3		116.5		69.7		140.9

^(a)  Our New Madrid smelter and our rolling mills use the LIFO method of inventory accounting for financial reporting and tax purposes. This adjustment restates net income to the FIFO method by eliminating LIFO expenses related to inventories held at the New Madrid smelter and the rolling mills. Product inventories at Gramercy and St. Ann and supplies inventories at New Madrid are stated at lower of weighted-average cost or market, and are not subject to the LIFO adjustment. We also reduce inventories to the lower of cost (adjusted for purchase accounting) or market value.

^(b)  We use derivative financial instruments to mitigate effects of fluctuations in aluminum and natural gas prices. This adjustment eliminates the non-cash gains and losses resulting from fair market value changes of aluminum swaps. Cash settlements (received) or paid, except settlements on hedge terminations, related to our derivatives are included in Adjusted EBITDA and are shown in the table below:

	Three months ended September 30,		Nine months ended September 30,			Twelve months ended
						September 30,	December 31,
	2012	2011	2012	2011		2012	2011
	$	$	$	$		$	$
Variable price aluminum offset swaps and other	2.6	0.3	7.1	(2.5	)	9.5	(0.1	)
Natural gas swaps	9.6	6.2	29.7	18.6		37.2	26.1
Interest rate swaps	—	—	—	2.3		2.3	4.6
Total	12.2	6.5	36.8	18.4		49.0	30.6

Adjusted EBITDA is not a measure of financial performance under U.S. GAAP, and may not be comparable to similarly titled measures used by other companies in our industry. Adjusted EBITDA should not be considered in isolation from or as an alternative to net income, income from continuing operations, operating income or any other performance measures derived in accordance with U.S. GAAP. Adjusted EBITDA has limitations as an analytical tool and you should not consider it in isolation or as a substitute for analysis of our results as reported under U.S. GAAP. For example, Adjusted EBITDA excludes certain tax payments that may represent a reduction in cash available to us; does not reflect any cash requirements for the assets being depreciated and amortized that may have to be replaced in the future; does not reflect capital cash expenditures, future requirements for capital expenditures or contractual commitments; does not reflect changes in, or cash requirements for, our working capital needs; and does not reflect the interest expense, or the cash requirements necessary to service interest or principal payments, on our indebtedness. Adjusted EBITDA also includes incremental stand-alone costs and adds back non-cash hedging gains and losses, and certain other non-cash charges that are deducted in calculating net income. However, these are expenses that may recur, vary greatly and are difficult to predict. In addition, certain of these expenses can represent the reduction of cash that could be used for other corporate purposes. You should not consider our Adjusted EBITDA as an alternative to operating income or net income, determined in accordance with U.S. GAAP, as an indicator of our operating performance, or as an alternative to cash flows from operating activities, determined in accordance with U.S. GAAP, as an indicator of our cash flows or as a measure of liquidity.

46

The following table reconciles Adjusted EBITDA to cash flow from operating activities for the periods presented (in millions):

	Three months ended September 30,				Nine months ended September 30,				Twelve months ended
									September 30,		December 31,
	2012		2011		2012		2011		2012		2011
	$		$		$		$		$		$
Adjusted EBITDA	0.5		54.0		74.1		212.2		97.7		235.8
Stock compensation expense	0.9		0.9		3.9		4.4		4.8		5.3
Changes in other assets	(2.6	)	1.2		(6.0	)	(5.7	)	(7.0	)	(6.7	)
Changes in pension, other post-retirement liabilities and other long-term liabilities	(2.4	)	(11.6	)	(1.3	)	(13.9	)	(1.7	)	(14.3	)
Changes in current operating assets and liabilities	25.9		21.1		(22.9	)	(8.1	)	16.0		30.8
Changes in current income taxes	0.1		(14.4	)	(20.6	)	(52.9	)	(38.2	)	(70.5	)
Changes in accrued interest	(8.2	)	(4.5	)	(22.1	)	(5.4	)	(26.5	)	(9.8	)
Non-cash pension, accretion and stock compensation	(4.0	)	(2.6	)	(13.1	)	(9.6	)	(15.9	)	(12.4	)
Restructuring, relocation and severance	(0.1	)	(1.2	)	(0.5	)	(1.8	)	(1.6	)	(2.9	)
Consulting and sponsor fees	(0.2	)	(1.4	)	(0.7	)	(1.8	)	(1.2	)	(2.3	)
Interest rate swaps	—		—		—		(2.3	)	(2.3	)	(4.6	)
Other, net	(5.4	)	(7.8	)	(4.6	)	(4.8	)	(7.6	)	(7.8	)
Cash flow provided by (used in) operating activities	4.5		33.7		(13.8	)	110.3		16.5		140.6

47

Item 3.    Quantitative and Qualitative Disclosures about Market Risk

There have been no material changes to the market risks disclosed in our Annual Report on Form 10-K, as filed on March 12, 2012.

48

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management, with the participation of our Chief Executive Officer and Chief Financial Officer, has evaluated the effectiveness of our disclosure controls and procedures (as such term is defined in Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), as of September 30, 2012. Based on such evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that, as of the end of such period, our disclosure controls and procedures are effective.

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting (as such term is defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) during the quarter ended September 30, 2012 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

49

PART II    OTHER INFORMATION

Item 1. Legal Proceedings

There have been no material changes to the description of our legal proceedings previously disclosed in our Annual Report on Form 10-K, as filed on March 12, 2012.

Item 1A.    Risk Factors

There have been no material changes to the risk factors previously disclosed in our Annual Report on Form 10-K, as filed on March 12, 2012.

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

None

Item 3. Defaults upon Senior Securities

None

Item 4. Mine Safety Disclosures

We believe ensuring the safety of our workforce is our number one accountability as an employer. We are committed to continuing and improving upon each facility’s focus on safety in the workplace. We have a number of safety programs in place, which include regular safety meetings and training sessions to teach proper safe work procedures.

Our executive management, along with site managers and union leadership, are actively involved in supporting and promoting the ongoing emphasis on workplace safety. Improvement in safety performance is a key metric used in determining annual incentive awards for our U.S. employees.

The information concerning mine safety violations or other regulatory matters required by Section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act and Item 104 of Regulation S-K is included in Exhibit 95.1 of this report, which is incorporated herein by reference.

Item 5.    Other Information

None.

Item 6. Exhibits

See the index to Exhibits

50

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on our behalf by the undersigned thereunto duly authorized.

	NORANDA ALUMINUM HOLDING CORPORATION
October 29, 2012	/S/ ROBERT B. MAHONEY
	Robert B. Mahoney Chief Financial Officer (Principal Financial and Accounting Officer)

51

INDEX TO EXHIBITS

Exhibit number	Description
2.1	Stock Purchase Agreement, dated April 10, 2007, by and among Noranda Aluminum Acquisition Corporation, Noranda Finance, Inc. and Xstrata (Schweiz) A.G. (incorporated by reference to Exhibit 2.1 of Noranda Aluminum Holding Corporation’s Registration Statement on Form S-4 filed on January 31, 2008)
3.1	Amended and Restated Certificate of Incorporation of Noranda Aluminum Holding Corporation (incorporated by reference to Exhibit 4.1 of the Company’s Registration Statement on Form S-8 (File No. 333-166947), filed on May 19, 2010)
3.2	Amended and Restated By-Laws, of Noranda Aluminum Holding Corporation (incorporated by reference to Exhibit 4.2 of the Company’s Registration Statement on Form S-8 (File No. 333-166947), filed on May 19, 2010)
12.1	Computation of Ratio of Earnings to Fixed Charges
31.1	Chief Executive Officer Certification
31.2	Chief Financial Officer Certification
32.1	Certification of Chief Executive Officer and Chief Financial Officer
95.1	Mine Safety Disclosures
101. INS	XBRL Instance Document
101. SCH	XBRL Taxonomy Extension Schema Document
101. CAL	XBRL Taxonomy Extension Calculation Linkbase Document
101. DEF	XBRL Taxonomy Extension Definition Linkbase Document
101. LAB	XBRL Taxonomy Extension Label Linkbase Document
101. PRE	XBRL Taxonomy Extension Presentation Linkbase Document

52

EX-12.1

Exhibit 12.1

COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES

(in millions)

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Computation of earnings:
Income before income taxes	5.7		37.5		68.0		166.4
Plus: fixed charges	9.5		5.8		26.3		18.0
Less: capitalized interest	(0.2	)	(0.2	)	(0.8	)	(0.6	)
Earnings	15.0		43.1		93.5		183.8
Computation of fixed charges
Interest expense, net	8.9		5.2		24.2		16.4
Capitalized interest	0.2		0.2		0.8		0.6
Interest portion of operating lease expense	0.4		0.4		1.3		1.0
Fixed charges	9.5		5.8		26.3		18.0
Ratio of earnings to fixed charges	1.6		7.4		3.6		10.2

EX-31.1

Exhibit 31.1

CHIEF EXECUTIVE OFFICER CERTIFICATION

I, Layle K. Smith, certify that:

1. I have reviewed this Quarterly Report on Form 10‑Q for the period ended September 30, 2012 of Noranda Aluminum Holding Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

October 29, 2012	/s/ Layle K. Smith
	Layle K. Smith
	Chief Executive Officer

EX-31.2

Exhibit 31.2

CHIEF FINANCIAL OFFICER CERTIFICATION

I, Robert B. Mahoney, certify that:

1. I have reviewed this Quarterly Report on Form 10‑Q for the period ended September 30, 2012 of Noranda Aluminum Holding Corporation;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c. Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d. Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

October 29, 2012	/s / Robert B. Mahoney
	Robert B. Mahoney
	Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

AND CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES‑OXLEY ACT OF 2002

In connection with the Quarterly Report of Noranda Aluminum Holding Corporation (the “Company”) on Form 10‑Q for the period ended September 30, 2012 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), Layle K. Smith, as Chief Executive Officer of the Company, and Robert B. Mahoney, as Chief Financial Officer of the Company, each hereby certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to his knowledge:

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

October 29, 2012	/s/ Layle K. Smith
	Layle K. Smith
	Chief Executive Officer
October 29, 2012	/s/ Robert B. Mahoney
	Robert B. Mahoney
	Chief Financial Officer

EX-95.1

Exhibit 95.1

Dodd-Frank Act Disclosure of Mine Safety and Health Administration Safety Data

Under the Interagency Agreement dated March 29, 1979 between the Mine Safety and Health Administration ("MSHA"), the U.S. Department of Labor, and The Occupational Safety and Health Administration, alumina refineries are subject to MSHA jurisdiction. As a result, our Gramercy, LA alumina refinery is subject to regulation by the MSHA under the U.S. Federal Mine Safety and Health Act of 1977 (the “Mine Act”).

The MSHA inspects these facilities on a regular basis and issues various citations and orders when it believes a violation has occurred under the Mine Act. Whenever the MSHA issues a citation or order, it also generally proposes a civil penalty, or fine, related to the alleged violation. Citations or orders can be contested and appealed, and as part of that process, are often reduced in severity and amount, and are sometimes dismissed.

Management believes the following mine safety disclosures meet the requirements of section 1503(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”).

Mine Safety Data

The table and other data below present mine safety information related to our alumina refinery in Gramercy, LA (MSHA ID No. 16-00352), as required by section 1503(a)(1) of the Dodd-Frank Act. The following data reflects citations and orders received from the MSHA during the nine months ended September 30, 2012. All citations have been or are being addressed.

Section104 S&S Citations 1(#)	Section104(b) Orders 2 (#)	Section104(d) Citations and Orders 3 (#)	Section110(b)(2) Violations 4 (#)	Section107(a) Orders 5 (#)	Total Dollar Value of MSHA Assess-ments Proposed ($ in millions)	Total Number of Mining Related Fatalities (#)	Received Notice of Pattern of Violations Under Section 104 (yes/no)	Received Notice of Potential to Have Pattern Under Section 104(e) (yes/no)	Legal Actions Pending as of Last Day of Period (#)	Legal Actions Initiated During Period (#)	Legal Actions Resolved During Period (#)
1	—	—	—	—	—	—	No	No	5	1	—

⁽¹⁾  Represents the total number of citations issued under section 104 of the Mine Act, for violations of mandatory health or safety standards that could significantly and substantially contribute to a serious injury if left unabated. This includes the citations listed under the column headed §104(d).

⁽²⁾  Represents the total number of orders issued under section 104(b) of the Mine Act, which represents a failure to abate a citation under section 104(a) within the period prescribed by the MSHA.

⁽³⁾  Represents the total number of citations and orders issued under section 104(d) of the Mine Act for unwarrantable failure to comply with mandatory health or safety standards.

⁽⁴⁾  Represents the total number of flagrant violations identified under section 110(b)(2) of the Mine Act.

⁽⁵⁾  Represents the total number of imminent danger orders issued under section 107(a) of the Mine Act. This results in an order of immediate withdrawal from the area of the mine affected by the condition until the MSHA determines that the violation has been abated.

The Federal Mine Safety and Health Review Commission (the “Commission”) is an independent adjudicative agency that provides administrative trial and appellate review of legal disputes arising under the Mine Act. As of September 30, 2012, Noranda has five matters pending before the Commission relating to citations or orders issued in 2011 and 2012 under section 104 of the Mine Act, along with the proposed penalties for each of these.

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Net Income Per Common Share (Tables)

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Schedule of calculation of net income per common share

Basic and diluted net income per common share ("EPS") were calculated as follows (in millions, except per share):

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Net income	$	3.8	$	30.8	$	45.3	$	116.5
Weighted-average common shares outstanding:
Basic	67.68		67.23		67.49		67.00
Effect of dilutive securities	1.44		1.26		1.61		1.32
Diluted	69.12		68.49		69.10		68.32
Net income per common share:
Basic	$	0.06	$	0.46	$	0.67	$	1.74
Diluted	$	0.05	$	0.45	$	0.66	$	1.71

Schedule of antidilutive stock options

Those antidilutive securities were as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
Antidilutive securities	0.68	—	0.50	—

XML

Fair Value Measurements (Schedule of Assets and Liabilities Measured on Recurring Basis) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	$ 0	$ 2.9
Derivative Assets, Fair Value	6.0	2.5
Derivative Liabilities, Fair Value	(13.1)	(41.5)
Restricted Stock Unit Liabilities, Fair Value	(0.1)	(0.2)
Total Fair Value of Net Assets and Liabilities Measured on a Recurring Basis	(7.2)	(36.3)
Fair Value, Measurements, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds	0	2.9
Derivative Assets, Fair Value	0	0
Derivative Liabilities, Fair Value	0	0
Restricted Stock Unit Liabilities, Fair Value	(0.1)	(0.2)
Total Fair Value of Net Assets and Liabilities Measured on a Recurring Basis	(0.1)	2.7
Fair Value, Measurements, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds		0
Derivative Assets, Fair Value	6.0	2.5
Derivative Liabilities, Fair Value	(13.1)	(41.5)
Restricted Stock Unit Liabilities, Fair Value	0	0
Total Fair Value of Net Assets and Liabilities Measured on a Recurring Basis	(7.1)	(39.0)
Fair Value, Measurements, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Money market funds		0
Derivative Assets, Fair Value	0	0
Derivative Liabilities, Fair Value	0	0
Restricted Stock Unit Liabilities, Fair Value	0	0
Total Fair Value of Net Assets and Liabilities Measured on a Recurring Basis	$ 0	$ 0

XML

Supplemental Financial Statement Information Supplemental Financial Statement Information (Schedule of Cash) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2011	Dec. 31, 2010
Supplemental Financial Statement Information [Abstract]
Cash	$ 33.9	$ 39.8
Money market funds	0	2.9
Total cash and cash equivalents	$ 33.9	$ 42.7	$ 103.9	$ 33.8

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Derivative Financial Instruments (Schedule of Gross Components of Net Derivative Balances) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Current derivative assets, gross	$ 5.5	$ 2.5
Current derivative liabilities, gross	(12.7)	(41.4)
Current Derivatives, Fair Value, Net	(7.2)	(38.9)
Long-term derivative assets, gross	0.5	0
Long-term derivative liabilities, gross	(0.4)	(0.1)
Long-term Derivatives Fair Value, Net	$ 0.1	$ (0.1)

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Inventories (Narrative) (Details) (Bauxite and Alumina [Member])	Sep. 30, 2012	Dec. 31, 2011
Bauxite and Alumina [Member]
Inventories disclosure [Line Items]
Percentage of weighted-average cost inventory	27.00%	26.00%

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Share-Based Payments (Schedule of Stock Option Activity) (Details) (USD $) In Millions, except Share data, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Dec. 31, 2011
Employee And Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, beginning of period	1,637,431
Weighted average exercise price, outstanding, beginning of period	$ 1.81
Options outstanding, intrinsic value, beginning of period	$ 13.4
Common shares, exercised	(309,442)
Weighted average exercise price, exercised	$ 1.89
Exercised, intrinsic value	1.9
Options outstanding, end of period	1,327,989
Weighted average exercise price, outstanding, end of period	$ 1.90
Options outstanding, intrinsic value, end of period	6.5
Common shares, currently exercisable	935,158
Weighted average exercise price, currently exerciseable	$ 2.11
Common shares exerciseable, intrinsic value	4.4
Investor Director Provider [Member]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding, beginning of period	140,000
Weighted average exercise price, outstanding, beginning of period	$ 9.00
Common shares, exercised	0
Weighted average exercise price, exercised	$ 0.00
Options outstanding, end of period	140,000
Weighted average exercise price, outstanding, end of period	$ 9.00
Options outstanding, intrinsic value, end of period	0
Common shares, currently exercisable	140,000
Weighted average exercise price, currently exerciseable	$ 9.00
Common shares exerciseable, intrinsic value	$ 0	$ 0

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Supplemental Financial Statement Information Supplemental Financial Statement Information (Schedule of Cash Flow Data and Cash Flow Data Narrative) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Schedule of supplemental cash flow disclosures [Line Items]
Interest paid	$ 19.9	$ 2.1
Capital expenditures incurred but not paid	8.3	3.4
Capitalized interest on capital projects	0.8	0.6
(Gain) Loss on disposal of assets	(1.4)	1.8
Domestic [Member]
Schedule of supplemental cash flow disclosures [Line Items]
Income taxes paid (received), net	32.5	59.8
Foreign [Member]
Schedule of supplemental cash flow disclosures [Line Items]
Income taxes paid (received), net	0	4.0
Flat-Rolled Products [Member]
Schedule of supplemental cash flow disclosures [Line Items]
(Gain) Loss on disposal of assets	$ (4.5)

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Long-Term Debt (Tables)

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Schedule of outstanding debt

The carrying values and fair values of our outstanding debt were as follows (in millions):

	September 30, 2012					December 31, 2011
	Carrying value		Fair value	Interest rate		Carrying value		Fair value	Interest rate
	$		$	%		$		$	%
Senior Floating Rate Notes due 2015 ("AcquisitionCo Notes")	275.3		261.5	4.73	%	350.3		324.0	4.66	%
Term B Loan, net	321.2		321.2	5.75	%	78.2		78.2	2.05	%
Revolver	—		—			—		—
Total debt, net	596.5					428.5
Less: Current portion	(3.3	)				(2.4	)
Long-term debt, net	593.2					426.1

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Share-Based Payments (Schedules of Restricted Stock and RSU Equity and Liability Award Activity) (Details) (USD $)	9 Months Ended
	Sep. 30, 2012
Restricted Stock and Restricted Stock Units Equity Awards [Member] | Service Vesting Awards [Member] | Employee And Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, nonvested, beginning of period	479,465
RSUs, weighted average grant date fair value, beginning of period	$ 13.66
RSU grants during period	407,760
RSU grants during period, weighted average grant date fair value	$ 11.75
Dividend equivalent units granted	11,466
Dividend equivalent units granted during period, weighted average grant date fair value	$ 7.94
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(126,928)
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Weighted Average Grant Date Fair Value	$ 14.19
RSUs forfeited during period	(12,094)
RSUs forfeited during period, weighted average forfeiture fair value	$ 13.67
RSUs, nonvested, end of period	759,669
RSUs, weighted average grant date fair value, end of period	$ 12.46
Restricted Stock and Restricted Stock Units Equity Awards [Member] | Performance Vesting Awards Target [Member] | Employee And Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, nonvested, beginning of period	260,866
RSU grants during period	462,053
Dividend equivalent units granted	97,321
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	0
RSUs forfeited during period	(4,758)
RSUs, nonvested, end of period	815,482
Restricted Stock Units Liability Awards [Member] | Service Vesting Awards [Member] | Investor Director Provider [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
RSUs, nonvested, beginning of period	34,148
RSU grants during period	25,000
Dividend equivalent units granted	457
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period	(34,442)
RSUs, nonvested, end of period	25,163

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Derivative Financial Instruments Derivative Financial Instruments (Schedule of Gains and Losses on Hedging Activities) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives qualified as hedging instruments, amount reclassified from AOCI	$ (25.3)	$ (27.1)	$ (64.3)	$ (73.5)
Derivatives not qualified as hedging instruments, change in fair value	(0.1)	7.6	1.8	7.9
Total gain or loss on hedging activities	(25.4)	(19.5)	(62.5)	(65.6)
Fixed price aluminum customer contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives qualified as hedging instruments, amount reclassified from AOCI	0		0
Derivatives not qualified as hedging instruments, change in fair value	7.1		3.9
Total gain or loss on hedging activities	7.1		3.9
Fixed price aluminum swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives qualified as hedging instruments, amount reclassified from AOCI	(31.7)	(30.7)	(83.9)	(84.1)
Derivatives not qualified as hedging instruments, change in fair value	0	0	0	0
Total gain or loss on hedging activities	(31.7)	(30.7)	(83.9)	(84.1)
Variable price aluminum offset swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives qualified as hedging instruments, amount reclassified from AOCI	0	0	0	0
Derivatives not qualified as hedging instruments, change in fair value	(6.3)	6.0	(2.2)	4.9
Total gain or loss on hedging activities	(6.3)	6.0	(2.2)	4.9
Natural gas swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives qualified as hedging instruments, amount reclassified from AOCI	6.4	3.6	19.6	10.6
Derivatives not qualified as hedging instruments, change in fair value	(0.3)	1.6	0.9	2.9
Total gain or loss on hedging activities	6.1	5.2	20.5	13.5
Interest Rate Swap [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives qualified as hedging instruments, amount reclassified from AOCI				0
Derivatives not qualified as hedging instruments, change in fair value				0.1
Total gain or loss on hedging activities				0.1
Fixed-Price Natural Gas Contract [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives qualified as hedging instruments, amount reclassified from AOCI	0		0
Derivatives not qualified as hedging instruments, change in fair value	(0.6)		(0.8)
Total gain or loss on hedging activities	(0.6)		(0.8)
gain(loss)reclassified from AOCI into earnings because forecasted transaction not probable to occur [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivatives qualified as hedging instruments, amount reclassified from AOCI	$ (2.6)

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Subsidiary Issuer of Guaranteed Notes (Consolidating Income Statements) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Guarantor Obligations [Line Items]
Sales	$ 336.8	$ 400.4	$ 1,062.0	$ 1,221.3
Operating costs and expenses:
Cost of sales	323.3	350.4	959.4	1,031.8
Selling, general and administrative expenses	24.3	26.8	64.8	72.3
Total operating costs and expenses, net	347.6	377.2	1,024.2	1,104.1
Operating income (loss)	(10.8)	23.2	37.8	117.2
Other (income) expense: [Abstract]
Interest expense, net	8.9	5.2	24.2	16.4
Gain on hedging activities, net	(25.4)	(19.5)	(62.5)	(65.6)
Debt refinancing expense	0	0	8.1	0
Total other income, net	(16.5)	(14.3)	(30.2)	(49.2)
Income (loss) before income taxes	5.7	37.5	68.0	166.4
Income tax expense	1.9	6.7	22.7	49.9
Equity in net income (loss) of subsidiaries	0	0	0	0
Net income (loss)	3.8	30.8	45.3	116.5	140.9
Other comprehensive income (loss), net of tax	(24.9)	(20.3)	(48.3)	(51.6)	(111.9)
Total comprehensive income	(21.1)	10.5	(3.0)	64.9
Parent guarantor [Member]
Guarantor Obligations [Line Items]
Sales	0	0	0	0
Operating costs and expenses:
Cost of sales	0	0	0	0
Selling, general and administrative expenses	1.3	1.2	5.1	5.5
Total operating costs and expenses, net	1.3	1.2	5.1	5.5
Operating income (loss)	(1.3)	(1.2)	(5.1)	(5.5)
Other (income) expense: [Abstract]
Interest expense, net	(0.1)	(0.1)	(0.3)	(0.3)
Gain on hedging activities, net	0	0	0	0
Debt refinancing expense			0
Total other income, net	(0.1)	(0.1)	(0.3)	(0.3)
Income (loss) before income taxes	(1.2)	(1.1)	(4.8)	(5.2)
Income tax expense	(0.4)	(0.2)	(1.5)	(1.3)
Equity in net income (loss) of subsidiaries	4.6	31.7	48.6	120.4
Net income (loss)	3.8	30.8	45.3	116.5
Other comprehensive income (loss), net of tax	(24.9)	(20.3)	(48.3)	(51.6)
Total comprehensive income	(21.1)	10.5	(3.0)	64.9
Issuer [Member]
Guarantor Obligations [Line Items]
Sales	0	0	0	0
Operating costs and expenses:
Cost of sales	0	0	0	0
Selling, general and administrative expenses	0.1	0	0.8	0.3
Total operating costs and expenses, net	0.1	0	0.8	0.3
Operating income (loss)	(0.1)	0	(0.8)	(0.3)
Other (income) expense: [Abstract]
Interest expense, net	9.1	5.2	24.5	16.6
Gain on hedging activities, net	0	0	0	0
Debt refinancing expense			8.1
Total other income, net	9.1	5.2	32.6	16.6
Income (loss) before income taxes	(9.2)	(5.2)	(33.4)	(16.9)
Income tax expense	(3.0)	(1.7)	(11.2)	(5.6)
Equity in net income (loss) of subsidiaries	10.8	35.2	70.8	131.7
Net income (loss)	4.6	31.7	48.6	120.4
Other comprehensive income (loss), net of tax	(24.9)	(20.3)	(48.3)	(51.6)
Total comprehensive income	(20.3)	11.4	0.3	68.8
Subsidiary guarantors [Member]
Guarantor Obligations [Line Items]
Sales	323.2	383.0	1,024.7	1,169.4
Operating costs and expenses:
Cost of sales	311.0	340.1	929.0	1,001.9
Selling, general and administrative expenses	19.9	22.0	49.6	56.4
Total operating costs and expenses, net	330.9	362.1	978.6	1,058.3
Operating income (loss)	(7.7)	20.9	46.1	111.1
Other (income) expense: [Abstract]
Interest expense, net	(0.1)	0.1	0	0.1
Gain on hedging activities, net	(25.4)	(19.5)	(62.5)	(65.6)
Debt refinancing expense			0
Total other income, net	(25.5)	(19.4)	(62.5)	(65.5)
Income (loss) before income taxes	17.8	40.3	108.6	176.6
Income tax expense	5.9	7.4	36.2	52.8
Equity in net income (loss) of subsidiaries	0	0	0	0
Net income (loss)	11.9	32.9	72.4	123.8
Other comprehensive income (loss), net of tax	(24.9)	(20.3)	(48.3)	(51.6)
Total comprehensive income	(13.0)	12.6	24.1	72.2
Subsidiary non-guarantor [Member]
Guarantor Obligations [Line Items]
Sales	33.6	40.9	99.1	115.3
Operating costs and expenses:
Cost of sales	32.3	33.8	92.2	93.3
Selling, general and administrative expenses	3.0	3.6	9.3	10.1
Total operating costs and expenses, net	35.3	37.4	101.5	103.4
Operating income (loss)	(1.7)	3.5	(2.4)	11.9
Other (income) expense: [Abstract]
Interest expense, net	0	0	0	0
Gain on hedging activities, net	0	0	0	0
Debt refinancing expense			0
Total other income, net	0	0	0	0
Income (loss) before income taxes	(1.7)	3.5	(2.4)	11.9
Income tax expense	(0.6)	1.2	(0.8)	4.0
Equity in net income (loss) of subsidiaries	0	0	0	0
Net income (loss)	(1.1)	2.3	(1.6)	7.9
Other comprehensive income (loss), net of tax	0	0	0	0
Total comprehensive income	(1.1)	2.3	(1.6)	7.9
Consolidation, Eliminations [Member]
Guarantor Obligations [Line Items]
Sales	(20.0)	(23.5)	(61.8)	(63.4)
Operating costs and expenses:
Cost of sales	(20.0)	(23.5)	(61.8)	(63.4)
Selling, general and administrative expenses	0	0	0	0
Total operating costs and expenses, net	(20.0)	(23.5)	(61.8)	(63.4)
Operating income (loss)	0	0	0	0
Other (income) expense: [Abstract]
Interest expense, net	0	0	0	0
Gain on hedging activities, net	0	0	0	0
Debt refinancing expense			0
Total other income, net	0	0	0	0
Income (loss) before income taxes	0	0	0	0
Income tax expense	0	0	0	0
Equity in net income (loss) of subsidiaries	(15.4)	(66.9)	(119.4)	(252.1)
Net income (loss)	(15.4)	(66.9)	(119.4)	(252.1)
Other comprehensive income (loss), net of tax	49.8	40.6	96.6	103.2
Total comprehensive income	$ 34.4	$ (26.3)	$ (22.8)	$ (148.9)

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Property Plant and Equipment (Schedule of Property, Plant and Equipment) (Details) (USD $) In Millions, unless otherwise specified											9 Months Ended
	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2012 Land [Member]	Dec. 31, 2011 Land [Member]	Sep. 30, 2012 Building and Building Improvements [Member]	Dec. 31, 2011 Building and Building Improvements [Member]	Sep. 30, 2012 Machinery and Equipment [Member]	Dec. 31, 2011 Machinery and Equipment [Member]	Sep. 30, 2012 Construction in Progress [Member]	Dec. 31, 2011 Construction in Progress [Member]	Sep. 30, 2012 Minimum [Member] Building and Building Improvements [Member]	Sep. 30, 2012 Minimum [Member] Machinery and Equipment [Member]	Sep. 30, 2012 Maximum [Member] Building and Building Improvements [Member]	Sep. 30, 2012 Maximum [Member] Machinery and Equipment [Member]
Statement [Line Items]
Property, plant and equipment, at cost	$ 1,109.2	$ 1,067.8	$ 49.8	$ 49.2	$ 149.2	$ 128.2	$ 863.8	$ 831.3	$ 46.4	$ 59.1
Property, Plant and Equipment, Estimated Useful Lives											P10Y	P3Y	P47Y	P50Y
Accumulated depreciation	(416.1)	(368.0)
Property, plant and equipment, net	$ 693.1	$ 699.8

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Share-Based Payments (Schedule of Stock Compensation Expense) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0.9	$ 0.9	$ 3.9	$ 4.4
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0.1	0.3	0.4	2.3
Restricted Stock and Restricted Stock Units Equity Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	0.8	0.6	3.3	1.6
Restricted Stock Units Liability Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 0	$ 0	$ 0.2	$ 0.5

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Non-Controlling Interest (Schedule of Balance Sheet Components Related to Non-Controlling Interest) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2011	Dec. 31, 2010
Noncontrolling Interest [Line Items]
Cash and cash equivalents	$ 33.9	$ 42.7	$ 103.9	$ 33.8
Accounts receivable, net	122.8	107.6
Inventories, net	202.9	186.5
Other current assets	12.3	41.3
Property, plant and equipment, net	693.1	699.8
Other assets	86.6	81.6
Accounts payable	(105.9)	(95.9)
Accrued liabilities	(59.3)	(87.3)
Non-controlling interest	(6.0)	(6.0)
Subsidiary balances [Member]
Noncontrolling Interest [Line Items]
Cash and cash equivalents	0.4	1.9
Accounts receivable, net	12.6	11.2
Inventories, net	14.1	12.0
Other current assets	2.5	2.1
Property, plant and equipment, net	40.1	38.4
Other assets	4.5	5.2
Accounts payable	(56.5)	(50.1)
Accrued liabilities	(3.7)	(4.3)
Environmental, land and reclamation liabilities	(2.2)	(4.6)
Non-controlling interest	(6.0)	(6.0)
Total net investment and advances to subsidiary	5.8	5.8
Impact of eliminations [Member]
Noncontrolling Interest [Line Items]
Cash and cash equivalents	0	0
Accounts receivable, net	(12.6)	(11.2)
Inventories, net	0	0
Other current assets	0	0
Property, plant and equipment, net	0	0
Other assets	0	0
Accounts payable	45.8	42.8
Accrued liabilities	0	0
Environmental, land and reclamation liabilities	0	0
Non-controlling interest	0	0
Total net investment and advances to subsidiary	33.2	31.6
Impact on consolidated balances [Member]
Noncontrolling Interest [Line Items]
Cash and cash equivalents	0.4	1.9
Accounts receivable, net	0	0
Inventories, net	14.1	12.0
Other current assets	2.5	2.1
Property, plant and equipment, net	40.1	38.4
Other assets	4.5	5.2
Accounts payable	(10.7)	(7.3)
Accrued liabilities	(3.7)	(4.3)
Environmental, land and reclamation liabilities	(2.2)	(4.6)
Non-controlling interest	(6.0)	(6.0)
Total net investment and advances to subsidiary	$ 39.0	$ 37.4

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Net Income Per Common Share (Schedule of Calculation of Net Income Per Common Share) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Earnings Per Share [Abstract]
Net income (loss)	$ 3.8	$ 30.8	$ 45.3	$ 116.5	$ 140.9
Weighted-average common shares outstanding:
Basic weighted-average common shares outstanding	67.68	67.23	67.49	67.00
Effect of dilutive securities on weighted-average common shares outstanding	1.44	1.26	1.61	1.32
Diluted weighted-average common shares outstanding	69.12	68.49	69.10	68.32
Net income per common share:
Basic net income per common share	$ 0.06	$ 0.46	$ 0.67	$ 1.74
Diluted net income per common share	$ 0.05	$ 0.45	$ 0.66	$ 1.71

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Subsidiary Issuer of Guaranteed Notes Subsidiary Issuer of Guaranteed Notes (Narrative) (Details) (Consolidation, Eliminations [Member], Scenario, Previously Reported [Member], USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Consolidation, Eliminations [Member] | Scenario, Previously Reported [Member]
Guarantor Obligations Disclosures [Line Items]
Prior Period Reclassification Adjustment	$ 6.0

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Share-Based Payments (Narrative) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended			9 Months Ended	3 Months Ended					9 Months Ended	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011	Sep. 30, 2012 Supplemental Dividend [Member]	Mar. 31, 2012 Supplemental Dividend [Member]	Sep. 30, 2012 Regular Quarterly Dividend [Member]	Jun. 30, 2012 Regular Quarterly Dividend [Member]	Mar. 31, 2012 Regular Quarterly Dividend [Member]	Sep. 30, 2012 Service Vesting Awards [Member] Restricted Stock and Restricted Stock Units Equity and Liability Awards [Member]	Sep. 30, 2012 Share-Based Award Holders [Member] Supplemental Dividend [Member]	Dec. 31, 2011 Share-Based Award Holders [Member] Supplemental Dividend [Member]	Dec. 31, 2011 Common Shareholder [Member]
Share-based compensation disclosure [Line Items]
Common Stock, Dividends, Per Share, Cash Paid							$ 1.25	$ 0.04	$ 0.04	$ 0.04		$ 1.25	$ 1.00	$ 1.03
Share-based compensation expense	$ 0.9	$ 0.9	$ 3.9	$ 4.4		$ 1.2
Number of Full-Time Employees Included in Investor Director Provider Group	5
Unrecognized stock compensation expense related to non-vested share-based awards	5.6		5.6
Weighted-average period when unrecognized stock compensation expense will be recognized			1 year 6 months
Estimated forfeiture rate											7.00%
Restricted stock unit liability awards, current	$ 0.1		$ 0.1		$ 0.2

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Derivative Financial Instruments (Schedule of Derivative Balances Segregated by Type of Contract and Between Derivatives That Are Designated and Qualify for Hedge Accounting) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Derivative [Line Items]
Hedges that qualify for hedge accounting, assets	$ 0	$ 0
Hedges that qualify for hedge accounting, liabilities	0	(21.9)
Hedges that do not qualify for hedge accounting, assets	6.0	2.5
Hedges that do not qualify for hedge accounting, liabilities	(13.1)	(19.6)
Fixed price aluminum customer contracts [Member]
Derivative [Line Items]
Hedges that qualify for hedge accounting, assets	0	0
Hedges that qualify for hedge accounting, liabilities	0	0
Hedges that do not qualify for hedge accounting, assets	0.9	2.0
Hedges that do not qualify for hedge accounting, liabilities	2.8	0
Variable price aluminum offset swaps [Member]
Derivative [Line Items]
Hedges that qualify for hedge accounting, assets	0	0
Hedges that qualify for hedge accounting, liabilities	0	0
Hedges that do not qualify for hedge accounting, assets	4.3	0.5
Hedges that do not qualify for hedge accounting, liabilities	2.0	(8.0)
Natural gas swaps [Member]
Derivative [Line Items]
Hedges that qualify for hedge accounting, assets	0	0
Hedges that qualify for hedge accounting, liabilities	0	(21.9)
Hedges that do not qualify for hedge accounting, assets	0	0
Hedges that do not qualify for hedge accounting, liabilities	8.3	(11.6)
Fixed-Price Natural Gas Contract [Member]
Derivative [Line Items]
Hedges that qualify for hedge accounting, assets	0	0
Hedges that qualify for hedge accounting, liabilities	0	0
Hedges that do not qualify for hedge accounting, assets	0.8	0
Hedges that do not qualify for hedge accounting, liabilities	$ 0	$ 0

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Non-Controlling Interest (Footnote)

9 Months Ended

Sep. 30, 2012

Noncontrolling Interest Items [Abstract]

Non-controlling interest disclosure

NON-CONTROLLING INTEREST

Through St. Ann, we hold a 49% partnership interest in Noranda Jamaica Bauxite Partners ("NJBP"), in which the GOJ holds a 51% interest. NJBP mines bauxite, approximately 50% of which was sold to Gramercy during 2011, with the remaining majority sold to Sherwin Alumina Company.

Under an establishment agreement between our subsidiary, Noranda Bauxite Limited ("NBL"), and the GOJ, NBL committed to make certain expenditures for haulroad development, maintenance, dredging, land purchases, contract mining, training and other general capital expenditures from 2009 through 2014. If we do not meet our commitment to the GOJ regarding these expenditures, we would owe to the GOJ a penalty that could be material to our consolidated financial statements. We believe there is a remote possibility that we will not meet the commitment.

We have determined that NJBP is a variable interest entity under U.S. GAAP, and St. Ann is NJBP’s primary beneficiary. The determination that St. Ann is the primary beneficiary was based on the fact that St. Ann absorbs the profits and losses associated with the partnership, while the GOJ receives certain fees from St. Ann (royalties, production and asset usage fees, etc.). We consolidate NJBP into our consolidated financial statements as follows (in millions):

	September 30, 2012						December 31, 2011
	NJBP balances		Impact of Eliminations		Impact on consolidated statements		NJBP balances		Impact of Eliminations		Impact on consolidated statements
	$		$		$		$		$		$
Cash and cash equivalents	0.4		—		0.4		1.9		—		1.9
Accounts receivable, net	12.6		(12.6	)	—		11.2		(11.2	)	—
Inventories, net (consisting of maintenance supplies, inventory and fuel)	14.1		—		14.1		12.0		—		12.0
Other current assets	2.5		—		2.5		2.1		—		2.1
Property, plant and equipment, net	40.1		—		40.1		38.4		—		38.4
Other assets	4.5		—		4.5		5.2		—		5.2
Accounts payable	(56.5	)	45.8		(10.7	)	(50.1	)	42.8		(7.3	)
Accrued liabilities	(3.7	)	—		(3.7	)	(4.3	)	—		(4.3	)
Environmental, land and reclamation liabilities	(2.2	)	—		(2.2	)	(4.6	)	—		(4.6	)
Non-controlling interest	(6.0	)	—		(6.0	)	(6.0	)	—		(6.0	)
NBP’s net investment and advances to NJBP	5.8		33.2		39.0		5.8		31.6		37.4

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Supplemental Financial Statement Information Supplemental Financial Statement Information (Schedule of Other Current Assets) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Supplemental Financial Statement Information [Abstract]
Current foreign deferred tax assets	$ 3.0	$ 3.3
Employee loans receivable, net	2.3	2.2
Current derivative assets, net	3.2	2.0
Restricted cash, current	0	30.1
Other miscellaneous current assets	3.8	3.7
Total other current assets	$ 12.3	$ 41.3

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Segments (Narrative) (Details)	9 Months Ended
	Sep. 30, 2012 segments
Segment Reporting, Measurement Disclosures [Abstract]
Number of Reportable Segments	5

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Shareholders' Equity Shareholders' Equity (Subsequent Events) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 24, 2012	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Nov. 05, 2012
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.04	$ 0.04	$ 0.00	$ 1.37	$ 0.00
Dividends Payable						$ 2.7

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Shareholders' Equity Shareholders' Equity Schedule of Dividends Declared (Tables)

9 Months Ended

Sep. 30, 2012

Shareholders' Equity [Abstract]

Dividend disclosures [Table Text Block]

Dividends declared and paid during the nine months ended September 30, 2012 were as follows:

Declaration date	Per share dividend amount	Date paid	Total cash payment
	$/share		$ in millions
February 15, 2012	0.04	March 21, 2012	2.6
February 29, 2012	1.25	March 19, 2012	84.3
April 24, 2012	0.04	May 30, 2012	2.6
July 24, 2012	0.04	August 29, 2012	2.7

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Supplemental Financial Statement Information Supplemental Financial Statement Information (Schedule of Accrued Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Supplemental Financial Statement Information [Abstract]
Power rate case accruals	$ 0	$ 30.1
Compensation and benefits	16.2	22.5
Workers' compensation, current	5.2	4.6
Accrued other operating expenses, current	16.3	11.1
Accrued interest	5.4	2.4
Asset retirement obligations, current	2.4	1.8
Land obligation, current	4.8	4.3
Reclamation obligation, current	0.8	2.8
Environmental remediation obligation, current	1.8	1.9
Obligations to the Government	5.4	4.7
Pension and other post-retirement liabilities, current	0.9	0.9
Restricted stock unit liability awards, current	0.1	0.2
Total accrued liabilities	$ 59.3	$ 87.3

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Pension and Other Post-Retirement Benefits Pension and Other Post-Retirement Benefits (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 07, 2012
Defined Benefit Plan Disclosure [Line Items]
Unrealized pension loss	$ (16.7)	$ 0	$ (16.7)	$ 0
Defined Benefit Plan, Effect of Plan Amendment on Net Periodic Benefit Cost					$ 0.1
Primary Aluminum [Member]
Defined Benefit Plan Disclosure [Line Items]
Percent of employees in labor unions	80.00%		80.00%

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Asset Retirement and Other Obligations (Reclamation Obligation) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Asset Retirement and Other Obligations [Abstract]
Reclamation obligation, beginning balance	$ 4.6
Additional liabilities incurred	1.5
Liabilities settled	(4.0)
Accretion	0.1
Reclamation obligation, ending balance	$ 2.2

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Supplemental Financial Statement Information Supplemental Financial Statement Information (Schedule of AOCI) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended			12 Months Ended	9 Months Ended	12 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 Accumulated Other Comprehensive Income (Loss) [Member]	Dec. 31, 2011 Accumulated Other Comprehensive Income (Loss) [Member]	Sep. 30, 2012 Accumulated Defined Benefit Plans Adjustment [Member]	Dec. 31, 2011 Accumulated Defined Benefit Plans Adjustment [Member]	Sep. 30, 2012 Accumulated Net Unrealized Investment Gain (Loss) [Member]	Dec. 31, 2011 Accumulated Net Unrealized Investment Gain (Loss) [Member]
Schedule of accumulated other comprehensive income (loss) [Line Items]
Accumulated Other Comprehensive Income (Loss), before Tax1, Beginning of Period							$ (163.8)	$ (99.4)	$ 94.1	$ 207.1
Accumulated Other Comprehensive Income (Loss) Tax, Beginning of Period							61.2	36.8	(33.9)	(75.0)
Accumulated Other Comprehensive Income (Loss), Net of Tax, Beginning of Period			(42.4)		(42.4)	69.5
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, Adjustment, before Reclassification Adjustments and Tax							(16.7)	(70.4)
Other Comprehensive Income (Loss), Pension and Other Postretirement Benefit Plans, before Reclassification Adjustments, Tax							6.1	26.6
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(0.1)	(4.8)	(3.5)	(7.6)					(3.5)	(14.3)
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Tax									1.3	5.3
Other Comprehensive Income Loss Before Reclassification Net Of Tax					(12.8)	(52.8)
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Transition Asset (Obligation), Recognized in Net Periodic Benefit Cost, before Tax							8.6	6.0
Other Comprehensive Income (Loss), Reclassification, Pension and Other Postretirement Benefit Plans, Net Transition Asset (Obligation), Recognized in Net Periodic Benefit Cost, Tax							(3.2)	(2.2)
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, before Tax	25.3	27.1	64.3	73.5					(64.3)	(98.7)
Other Comprehensive Income (Loss), Reclassification Adjustment on Derivatives Included in Net Income, Tax									23.4	35.8
Other Comprehensive Income Loss Reclassification Adjustments Included In Net Income Net Of Tax					(35.5)	(59.1)
Accumulated Other Comprehensive Income (Loss), before Tax1, End of Period							(171.9)	(163.8)	26.3	94.1
Accumulated Other Comprehensive Income (Loss) Tax, End of Period							64.1	61.2	(9.2)	(33.9)
Accumulated Other Comprehensive Income (Loss), Net of Tax, End of Period	$ (90.7)		$ (90.7)		$ (90.7)	$ (42.4)

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Accounting Policies (Footnote)

9 Months Ended

Sep. 30, 2012

Accounting Policies [Abstract]

Significant Accounting Policies [Text Block]

ACCOUNTING POLICIES

Organization, Consolidation and Basis of Presentation

The accompanying unaudited consolidated financial statements represent the consolidation of Noranda Aluminum Holding Corporation and all companies that we directly or indirectly control ("Noranda," "the Company," "we," "us," and "our"). "Noranda HoldCo" refers only to Noranda Aluminum Holding Corporation, excluding its subsidiaries. "Noranda AcquisitionCo" refers only to Noranda Aluminum Acquisition Corporation, the wholly-owned direct subsidiary of Noranda HoldCo, excluding its subsidiaries.

These unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP") for interim financial information. The consolidated financial statements, including these condensed notes, are unaudited and exclude some of the disclosures required in annual consolidated financial statements. Consolidated balance sheet data as of December 31, 2011 was derived from our audited consolidated financial statements. In management's opinion, these unaudited consolidated financial statements include all adjustments (including normal recurring accruals) that are considered necessary for the fair presentation of our financial position and operating results. All intercompany transactions and accounts have been eliminated in consolidation.

The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. For example, our interim operating results are affected by peak power usage rates from June through September each year which affect our operating costs at the New Madrid smelter. We are also subject to seasonality associated with the demand cycles of our end-use customers, which results in lower shipment levels from November to February relative to other periods during the year.

These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission ("SEC") on March 12, 2012.

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Asset Retirement and Other Obligations (Land Obligation) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Asset Retirement and Other Obligations [Abstract]
Land obligation, beginning of period	$ 13.2
Land Obligation, Liabilities Incurred	1.6
Land Obligation, Liabilities Settled	(0.9)
Land obligation, end of period	$ 13.9

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Segments (Schedule of Segment Profit Reconciliation) (Details) (USD $) In Millions, unless otherwise specified	2 Months Ended	3 Months Ended		9 Months Ended
	Sep. 07, 2012	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from External Customers		$ 336.8	$ 400.4	$ 1,062.0	$ 1,221.3
Segment Reporting Information, Intersegment Revenue		0	0	0	0
Sales Revenue, Goods, Net		336.8	400.4	1,062.0	1,221.3
Depreciation and amortization		23.6	25.0	70.2	73.1
Payments to Acquire Property, Plant, and Equipment		17.9	14.8	59.8	44.1
Segment profit (loss)		10.1	60.2	103.8	230.8
Last in, first out and lower of cost or market inventory adjustments		10.0	1.9	14.3	(17.3)
(Gain) Loss on disposal of assets		1.2	0.3	(1.4)	1.8
Non-cash pension, accretion and stock compensation		(4.0)	(2.6)	(13.1)	(9.6)
Relocation and severance		(0.1)	(1.2)	(0.5)	(1.8)
Consulting fees		(0.2)	(1.4)	(0.7)	(1.8)
Cash settlements on hedging transactions		2.5	0.3	7.0	(2.5)
Other, net		(4.3)	(8.7)	(4.2)	(5.7)
Operating income (loss)		(10.8)	23.2	37.8	117.2
Interest expense, net		8.9	5.2	24.2	16.4
Gain on hedging activities, net		(25.4)	(19.5)	(62.5)	(65.6)
Debt refinancing expense		0	0	8.1	0
Total other income, net		(16.5)	(14.3)	(30.2)	(49.2)
Income (loss) before income taxes		5.7	37.5	68.0	166.4
Bauxite [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from External Customers		13.6	17.4	37.3	52.0
Segment Reporting Information, Intersegment Revenue		20.0	23.5	61.8	63.4
Sales Revenue, Goods, Net		33.6	40.9	99.1	115.4
Payments to Acquire Property, Plant, and Equipment		2.6	1.3	6.6	6.7
Bauxite [Member] | Significant Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization		2.1	3.2	6.3	7.6
Segment profit (loss)		0.3	6.8	3.9	19.2
Last in, first out and lower of cost or market inventory adjustments		0	0	0	0
(Gain) Loss on disposal of assets		(0.2)	0	(0.2)	(0.7)
Non-cash pension, accretion and stock compensation		0	(0.1)	(0.1)	(0.4)
Relocation and severance		0	0	0	0
Consulting fees		0	0	0	0
Cash settlements on hedging transactions		0	0	0	0
Other, net		0	0.1	0	0.1
Operating income (loss)		(1.6)	3.6	(2.3)	12.0
Alumina [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from External Customers		48.6	60.6	162.1	182.2
Segment Reporting Information, Intersegment Revenue		32.0	43.5	106.2	135.0
Sales Revenue, Goods, Net		80.6	104.1	268.3	317.2
Payments to Acquire Property, Plant, and Equipment		4.6	4.1	12.8	9.4
Alumina [Member] | Significant Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization		5.8	5.3	16.3	15.7
Segment profit (loss)		1.8	23.4	29.2	73.9
Last in, first out and lower of cost or market inventory adjustments		0	0	0	0
(Gain) Loss on disposal of assets		0	0	0	0
Non-cash pension, accretion and stock compensation		(0.2)	(0.1)	(0.6)	(0.4)
Relocation and severance		0	0	0	(0.2)
Consulting fees		0	0	0	0
Cash settlements on hedging transactions		0	0	0	0
Other, net		0	(0.1)	(0.4)	(0.3)
Operating income (loss)		(4.2)	17.9	11.9	57.3
Primary Aluminum [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from External Customers		129.1	159.2	413.1	498.8
Segment Reporting Information, Intersegment Revenue		18.1	28.5	58.2	62.3
Sales Revenue, Goods, Net		147.2	187.7	471.3	561.1
Payments to Acquire Property, Plant, and Equipment		7.1	6.5	27.8	18.7
Primary Aluminum [Member] | Significant Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization		11.0	11.5	32.9	34.8
Segment profit (loss)		3.1	21.8	51.9	117.6
Last in, first out and lower of cost or market inventory adjustments		3.0	(2.0)	7.4	(10.4)
(Gain) Loss on disposal of assets		1.4	0.4	3.0	1.6
Non-cash pension, accretion and stock compensation		(1.4)	(0.8)	(4.1)	(2.2)
Relocation and severance		0.1	(0.6)	(0.1)	(0.8)
Consulting fees		0	0	0	0
Cash settlements on hedging transactions		0.2	0.3	0.7	(0.1)
Other, net	(3.5)	(3.6)	0.1	(3.5)	(0.1)
Operating income (loss)		(11.0)	6.9	16.4	67.6
Flat-Rolled Products [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from External Customers		145.5	163.2	449.5	488.3
Segment Reporting Information, Intersegment Revenue		0	0	0	0
Sales Revenue, Goods, Net		145.5	163.2	449.5	488.3
Payments to Acquire Property, Plant, and Equipment		2.7	2.7	10.4	8.4
(Gain) Loss on disposal of assets				(4.5)
Flat-Rolled Products [Member] | Significant Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization		4.4	4.7	13.7	14.1
Segment profit (loss)		12.0	12.1	41.1	41.8
Last in, first out and lower of cost or market inventory adjustments		6.8	0.7	7.2	(7.6)
(Gain) Loss on disposal of assets		0	(0.1)	(4.2)	0.9
Non-cash pension, accretion and stock compensation		(1.3)	(0.6)	(3.7)	(1.8)
Relocation and severance		(0.1)	(0.1)	(0.2)	(0.2)
Consulting fees		0	0	0	0
Cash settlements on hedging transactions		2.3	0	6.3	(2.4)
Other, net		(0.1)	0	0	0
Operating income (loss)		15.2	7.5	41.2	14.8
Corporate [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from External Customers		0	0	0	0
Segment Reporting Information, Intersegment Revenue		0	0	0	0
Sales Revenue, Goods, Net		0	0	0	0
Payments to Acquire Property, Plant, and Equipment		0.9	0.2	2.2	0.9
Corporate [Member] | Significant Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization		0.3	0.3	1.0	0.9
Segment profit (loss)		(7.3)	(8.0)	(22.3)	(21.8)
Last in, first out and lower of cost or market inventory adjustments		0	0	0	0
(Gain) Loss on disposal of assets		0	0	0	0
Non-cash pension, accretion and stock compensation		(1.1)	(1.0)	(4.6)	(4.8)
Relocation and severance		(0.1)	(0.5)	(0.2)	(0.6)
Consulting fees		(0.2)	(1.4)	(0.7)	(1.8)
Cash settlements on hedging transactions		0	0	0	0
Other, net		0	(3.5)	(0.2)	(3.7)
Operating income (loss)		(9.0)	(14.7)	(29.0)	(33.6)
Eliminations [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Revenue from External Customers		0	0	0	0
Segment Reporting Information, Intersegment Revenue		(70.1)	(95.5)	(226.2)	(260.7)
Sales Revenue, Goods, Net		(70.1)	(95.5)	(226.2)	(260.7)
Payments to Acquire Property, Plant, and Equipment		0	0	0	0
Eliminations [Member] | Significant Reconciling Items [Member]
Segment Reporting, Reconciling Item for Operating Profit (Loss) from Segment to Consolidated [Line Items]
Depreciation and amortization		0	0	0	0
Segment profit (loss)		0.2	4.1	0	0.1
Last in, first out and lower of cost or market inventory adjustments		0.2	3.2	(0.3)	0.7
(Gain) Loss on disposal of assets		0	0	0	0
Non-cash pension, accretion and stock compensation		0	0	0	0
Relocation and severance		0	0	0	0
Consulting fees		0	0	0	0
Cash settlements on hedging transactions		0	0	0	0
Other, net		(0.6)	(5.3)	(0.1)	(1.7)
Operating income (loss)		$ (0.2)	$ 2.0	$ (0.4)	$ (0.9)

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Supplemental Financial Statement Information Supplemental Financial Statement Information (Tables)

9 Months Ended

Sep. 30, 2012

Supplemental Financial Statement Information [Abstract]

Schedule of depreciation and amortization

Depreciation and amortization in the accompanying unaudited consolidated statements of cash flows comprised depreciation of property, plant and equipment and other, amortization of intangible assets and amortization of other long-term assets as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Depreciation of property, plant and equipment	20.9	21.4	62.0	63.9
Amortization of intangible assets	1.5	1.4	4.5	4.4
Amortization of other long-term assets	1.2	2.2	3.7	4.8
Total depreciation and amortization	23.6	25.0	70.2	73.1

Schedule of supplemental cash flow disclosures

Cash paid for interest and income taxes was as follows (in millions):

	Nine months ended September 30,
	2012	2011
	$	$
Interest paid	19.9	2.1
U.S. Federal and state income taxes paid, net of refunds received	32.5	59.8
Jamaican income taxes paid	—	4.0

Schedule of changes in accumulated other comprehensive income (loss)

Changes in accumulated other comprehensive income (loss) ("AOCI") were as follows (in millions):

	Unrealized net actuarial gain (loss), prior service cost and other related to pension and OPEB	Accumulated tax benefit (expense) related to unrealized net actuarial gain/loss, prior service cost and other related to pension and OPEB	Unrealized gain (loss) on derivatives	Accumulated tax benefit (expense) related to unrealized gain or loss on derivatives	Total, net of tax
Balance, December 31, 2010	(99.4)	36.8	207.1	(75.0)	69.5
Amounts recorded to AOCI for the period	(70.4)	26.6	(14.3)	5.3	(52.8)
Reclassification of amounts realized in net income	6.0	(2.2)	(98.7)	35.8	(59.1)
Balance, December 31, 2011	(163.8)	61.2	94.1	(33.9)	(42.4)
Amounts recorded to AOCI for the period	(16.7)	6.1	(3.5)	1.3	(12.8)
Reclassification of amounts realized in net income	8.6	(3.2)	(64.3)	23.4	(35.5)
Balance, September 30, 2012	(171.9)	64.1	26.3	(9.2)	(90.7)

Schedule of cash and cash equivalents

Cash and cash equivalents consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Cash	33.9	39.8
Money market funds	—	2.9
Total cash and cash equivalents	33.9	42.7

Schedule of accounts receivable

Accounts receivable, net, consisted of the following (in millions):

	September 30, 2012		December 31, 2011
	$		$
Trade	122.9		107.7
Allowance for doubtful accounts	(0.1	)	(0.1	)
Total accounts receivable, net	122.8		107.6

Schedule of other current assets

Other current assets consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Current foreign deferred tax asset	3.0	3.3
Employee loans receivable, net	2.3	2.2
Current derivative assets (see Note 11, "Derivative Financial Instruments")	3.2	2.0
Restricted cash (see Note 7, "Commitments and Contingencies")	—	30.1
Other current assets	3.8	3.7
Total other current assets	12.3	41.3

Schedule of other noncurrent assets

Other assets consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Deferred financing costs, net of amortization	10.0	8.1
Cash surrender value of life insurance	25.3	25.1
Pension asset (see Note 10, "Pensions and Other Post-Retirement Benefits")	7.4	7.0
Restricted cash (see Note 9, "Asset Retirement and Other Obligations")	12.7	12.7
Supplies	13.6	12.7
Prepaid Jamaican income taxes	6.0	6.0
Derivative asset	0.5	—
Other	11.1	10.0
Total other assets	86.6	81.6

Schedule of accrued liabilities

Accrued liabilities consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Compensation and benefits	16.2	22.5
Workers’ compensation	5.2	4.6
Other operating expenses	16.3	11.1
Power rate case related accruals (see Note 7, "Commitments and Contingencies")	—	30.1
Accrued interest	5.4	2.4
Asset retirement obligations (see Note 9, "Asset Retirement and Other Obligations")	2.4	1.8
Land obligation (see Note 9 "Asset Retirement and Other Obligations")	4.8	4.3
Reclamation obligation (see Note 9, "Asset Retirement and Other Obligations")	0.8	2.8
Environmental remediation obligations (see Note 7 "Commitments and Contingencies")	1.8	1.9
Obligations to the Government of Jamaica (see Note 17, "Non-Controlling Interest")	5.4	4.7
Pension and OPEB liabilities (see Note 10, "Pensions and Other Post-Retirement Benefits")	0.9	0.9
Restricted stock unit ("RSU") liability awards (see Note 13, "Share-Based Payments")	0.1	0.2
Total accrued liabilities	59.3	87.3

Schedule of other long-term liabilities

Other long-term liabilities consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Reserve for uncertain tax positions	0.8	0.8
Workers’ compensation	14.7	13.1
Asset retirement obligations (see Note 9, "Asset Retirement and Other Obligations")	13.3	13.9
Land obligation (see Note 9, "Asset Retirement and Other Obligations")	9.1	8.9
Reclamation obligation (see Note 9, "Asset Retirement and Other Obligations")	1.4	1.8
Environmental remediation obligations (see Note 7, "Commitments and Contingencies")	2.2	2.2
Deferred compensation and other	6.5	5.5
Total other long-term liabilities	48.0	46.2

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Segments (Tables)

9 Months Ended

Sep. 30, 2012

Segment Reporting, Measurement Disclosures [Abstract]

Schedule reconciling segment profit loss to consolidated income before income taxes [Table Text Block]

The following tables present operating and asset information for our reportable segments (in millions):

	Three months ended September 30, 2012
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	13.6		48.6		129.1		145.5		—		—		336.8
Intersegment	20.0		32.0		18.1		—		—		(70.1	)	—
Total sales	33.6		80.6		147.2		145.5		—		(70.1	)	336.8
Capital expenditures	2.6		4.6		7.1		2.7		0.9		—		17.9
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	0.3		1.8		3.1		12.0		(7.3	)	0.2		10.1
Depreciation and amortization	(2.1	)	(5.8	)	(11.0	)	(4.4	)	(0.3	)	—		(23.6	)
Last in, first out and lower of cost or market inventory adjustments	—		—		3.0		6.8		—		0.2		10.0
Gain (loss) on disposal of assets	0.2		—		(1.4	)	—		—		—		(1.2	)
Non-cash pension, accretion and stock compensation	—		(0.2	)	(1.4	)	(1.3	)	(1.1	)	—		(4.0	)
Relocation and severance	—		—		0.1		(0.1	)	(0.1	)	—		(0.1	)
Consulting fees	—		—		—		—		(0.2	)	—		(0.2	)
Cash settlements on hedging transactions	—		—		0.2		2.3		—		—		2.5
Other, net	—		—		(3.6	)	(0.1	)	—		(0.6	)	(4.3	)
Operating income (loss)	(1.6	)	(4.2	)	(11.0	)	15.2		(9.0	)	(0.2	)	(10.8	)
Interest expense, net													8.9
Gain on hedging activities, net													(25.4	)
Debt refinancing expense													—
Total other income, net													(16.5	)
Income before income taxes													5.7

In third quarter 2012, we incurred $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of our collective bargaining agreement at our New Madrid smelter. This is reflected in the table above in "Other, net."

	Three months ended September 30, 2011
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	17.4		60.6		159.2		163.2		—		—		400.4
Intersegment	23.5		43.5		28.5		—		—		(95.5	)	—
Total sales	40.9		104.1		187.7		163.2		—		(95.5	)	400.4
Capital expenditures	1.3		4.1		6.5		2.7		0.2		—		14.8
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	6.8		23.4		21.8		12.1		(8.0	)	4.1		60.2
Depreciation and amortization	(3.2	)	(5.3	)	(11.5	)	(4.7	)	(0.3	)	—		(25.0	)
Last in, first out and lower of cost or market inventory adjustments	—		—		(2.0	)	0.7		—		3.2		1.9
Gain (loss) on disposal of assets	—		—		(0.4	)	0.1		—		—		(0.3	)
Non-cash pension, accretion and stock compensation	(0.1	)	(0.1	)	(0.8	)	(0.6	)	(1.0	)	—		(2.6	)
Relocation and severance	—		—		(0.6	)	(0.1	)	(0.5	)	—		(1.2	)
Consulting fees	—		—		—		—		(1.4	)	—		(1.4	)
Cash settlements on hedging transactions	—		—		0.3		—		—		—		0.3
Other, net	0.1		(0.1	)	0.1		—		(3.5	)	(5.3	)	(8.7	)
Operating income (loss)	3.6		17.9		6.9		7.5		(14.7	)	2.0		23.2
Interest expense, net													5.2
Gain on hedging activities, net													(19.5	)
Debt refinancing expense													—
Total other income, net													(14.3	)
Income before income taxes													37.5

	Nine months ended September 30, 2012
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	37.3		162.1		413.1		449.5		—		—		1,062.0
Intersegment	61.8		106.2		58.2		—		—		(226.2	)	—
Total sales	99.1		268.3		471.3		449.5		—		(226.2	)	1,062.0
Capital expenditures	6.6		12.8		27.8		10.4		2.2		—		59.8
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	3.9		29.2		51.9		41.1		(22.3	)	—		103.8
Depreciation and amortization	(6.3	)	(16.3	)	(32.9	)	(13.7	)	(1.0	)	—		(70.2	)
Last in, first out and lower of cost or market inventory adjustments	—		—		7.4		7.2		—		(0.3	)	14.3
Gain (loss) on disposal of assets	0.2		—		(3.0	)	4.2		—		—		1.4
Non-cash pension, accretion and stock compensation	(0.1	)	(0.6	)	(4.1	)	(3.7	)	(4.6	)	—		(13.1	)
Relocation and severance	—		—		(0.1	)	(0.2	)	(0.2	)	—		(0.5	)
Consulting fees	—		—		—		—		(0.7	)	—		(0.7	)
Cash settlements on hedging transactions	—		—		0.7		6.3		—		—		7.0
Other, net	—		(0.4	)	(3.5	)	—		(0.2	)	(0.1	)	(4.2	)
Operating income (loss)	(2.3	)	11.9		16.4		41.2		(29.0	)	(0.4	)	37.8
Interest expense, net													24.2
Gain on hedging activities, net													(62.5	)
Debt refinancing expense													8.1
Total other income, net													(30.2	)
Income before income taxes													68.0

In third quarter 2012, we incurred $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of our collective bargaining agreement at our New Madrid smelter. This is reflected in the table above in "Other, net."

	Nine months ended September 30, 2011
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	52.0		182.2		498.8		488.3		—		—		1,221.3
Intersegment	63.4		135.0		62.3		—		—		(260.7	)	—
Total sales	115.4		317.2		561.1		488.3		—		(260.7	)	1,221.3
Capital expenditures	6.7		9.4		18.7		8.4		0.9		—		44.1
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	19.2		73.9		117.6		41.8		(21.8	)	0.1		230.8
Depreciation and amortization	(7.6	)	(15.7	)	(34.8	)	(14.1	)	(0.9	)	—		(73.1	)
Last in, first out and lower of cost or market inventory adjustments	—		—		(10.4	)	(7.6	)	—		0.7		(17.3	)
Loss on disposal of assets	0.7		—		(1.6	)	(0.9	)	—		—		(1.8	)
Non-cash pension, accretion and stock compensation	(0.4	)	(0.4	)	(2.2	)	(1.8	)	(4.8	)	—		(9.6	)
Relocation and severance	—		(0.2	)	(0.8	)	(0.2	)	(0.6	)	—		(1.8	)
Consulting fees	—		—		—		—		(1.8	)	—		(1.8	)
Cash settlements on hedging transactions	—		—		(0.1	)	(2.4	)	—		—		(2.5	)
Other, net	0.1		(0.3	)	(0.1	)	—		(3.7	)	(1.7	)	(5.7	)
Operating income (loss)	12.0		57.3		67.6		14.8		(33.6	)	(0.9	)	117.2
Interest expense, net													16.4
Gain on hedging activities, net													(65.6	)
Debt refinancing expense													—
Total other income, net													(49.2	)
Income before income taxes													166.4

Schedule reconciling segment assets to consolidated assets

	September 30, 2012		December 31, 2011
Segment assets:	$		$
Bauxite	149.9		148.3
Alumina	243.2		241.7
Primary Aluminum	549.3		574.5
Flat-Rolled Products	387.5		367.5
Corporate	90.9		83.6
Eliminations	(41.1	)	(38.1	)
Total assets	1,379.7		1,377.5

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Inventories (Schedule of Inventories) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Inventory, Net [Abstract]
Raw materials, at cost	$ 65.0	$ 71.2
Work-in-process, at cost	62.9	51.7
Finished goods, at cost	24.0	26.3
Total product inventories, at cost	151.9	149.2
LIFO adjustment	21.2	10.3
Lower of cost or market (LCM) reserve	(7.8)	(11.5)
Product inventories, at lower of cost or market	165.3	148.0
Supplies, current	37.6	38.5
Total inventories, net	$ 202.9	$ 186.5

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Segments (Schedule of Segment Assets) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ 1,379.7	$ 1,377.5
Bauxite [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	149.9	148.3
Alumina [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	243.2	241.7
Primary Aluminum [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	549.3	574.5
Flat-Rolled Products [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	387.5	367.5
Corporate [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	90.9	83.6
Eliminations [Member]
Segment Reporting, Asset Reconciling Item [Line Items]
Total assets	$ (41.1)	$ (38.1)

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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The tables below set forth by level the fair value hierarchy of our assets and liabilities that were measured at fair value on a recurring basis (in millions):

	September 30, 2012
	Level 1		Level 2		Level 3	Total
	$		$		$	$
Derivative assets	—		6.0		—	6.0
Derivative liabilities	—		(13.1	)	—	(13.1	)
RSU liability awards	(0.1	)	—		—	(0.1	)
Total	(0.1	)	(7.1	)	—	(7.2	)

	December 31, 2011
	Level 1		Level 2		Level 3	Total
	$		$		$	$
Cash equivalents	2.9		—		—	2.9
Derivative assets	—		2.5		—	2.5
Derivative liabilities	—		(41.5	)	—	(41.5	)
RSU liability awards	(0.2	)	—		—	(0.2	)
Total	2.7		(39.0	)	—	(36.3	)

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Inventories (Tables)

9 Months Ended

Sep. 30, 2012

Inventory, Net [Abstract]

Schedule of inventories

Inventories, net, consisted of the following (in millions):

	September 30, 2012		December 31, 2011
	$		$
Raw materials, at cost	65.0		71.2
Work-in-process, at cost	62.9		51.7
Finished goods, at cost	24.0		26.3
Total inventories, at cost	151.9		149.2
Last in first out adjustment	21.2		10.3
Lower of cost or market reserve	(7.8	)	(11.5	)
Inventories, at lower of cost or market	165.3		148.0
Supplies	37.6		38.5
Total inventories, net	202.9		186.5

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Consolidated Statements of Cash Flows (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Operating Activities
Net income (loss)	$ 45.3	$ 116.5
Adjustments to reconcile net income to cash provided by (used in) operating activities:
Depreciation and amortization	70.2	73.1
Non-cash interest expense	2.1	11.0
Last in, first out and lower of cost or market inventory adjustments	(14.3)	17.3
(Gain) Loss on disposal of assets	(1.4)	1.8
Gain on hedging activities, net of cash settlements	(99.6)	(83.1)
Debt refinancing expense	8.1	0
Deferred income taxes	2.1	(2.3)
Share-based compensation expense	3.9	4.4
Excess tax benefit related to share-based payment arrangements	0	(0.7)
Changes in other noncurrent assets	(6.0)	(5.7)
Changes in pension, other post-retirement and other long-term liabilities	(1.3)	(13.9)
Changes in current operating assets and liabilities:
Accounts receivable, net	(15.2)	(8.4)
Inventories, net	(3.5)	(22.2)
Taxes receivable and taxes payable	(11.1)	(1.8)
Other current assets	24.6	(20.0)
Accounts payable	10.3	17.0
Accrued liabilities	(28.0)	27.3
Cash provided by (used in) operating activities	(13.8)	110.3
Investing Activities
Capital expenditures	(59.8)	(44.1)
Proceeds from sale of property, plant and equipment	4.8	2.6
Cash provided by (used in) investing activities	(55.0)	(41.5)
Financing Activities
Dividends paid to shareholders	(92.2)	0
Distributions paid to share-based award holders	(3.1)	0
Proceeds from issuance of common shares	0.5	0.6
Repurchase of shares	(0.4)	0
Repayments of long-term debt	(154.8)	0
Borrowings on long-term debt	322.6	0
Payments of financing costs	(12.6)	0
Excess tax benefit related to share-based payment arrangements	0	0.7
Cash provided by (used in) financing activities	60.0	1.3
Change in cash and cash equivalents	(8.8)	70.1
Cash and cash equivalents, beginning of period	42.7	33.8
Cash and cash equivalents, end of period	$ 33.9	$ 103.9

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Property, Plant and Equipment (Tables)

9 Months Ended

Sep. 30, 2012

Property, Plant and Equipment, Net [Abstract]

Schedule of property, plant and equipment

Property, plant and equipment, net, consisted of the following (in millions):

	Estimated useful lives in years			September 30, 2012		December 31, 2011
				$		$
Land				49.8		49.2
Buildings and improvements	10	—	47	149.2		128.2
Machinery and equipment	3	—	50	863.8		831.3
Construction in progress				46.4		59.1
Property, plant and equipment, at cost				1,109.2		1,067.8
Accumulated depreciation				(416.1	)	(368.0	)
Total property, plant and equipment, net				693.1		699.8

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Income Taxes (Narrative) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Income Tax Disclosure [Abstract]
Effective Income Tax Rate, Continuing Operations	33.30%	17.90%	33.40%	30.00%

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Related Party Transactions (Tables)

9 Months Ended

Sep. 30, 2012

Related Party Transactions [Abstract]

Schedule of related party sales transactions [Table textblock]

We sell flat-rolled products to two customers that are affiliated with Apollo. Sales to these companies were as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Berry Plastics Corporation	2.5	2.1	7.1	7.1
Metals USA Holdings Corp.	3.4	4.2	9.1	11.5

Schedule of related party receivables [Table Text Block]

Accounts receivable from these related parties were as follows (in millions):

	September 30, 2012	December 31, 2011
	$	$
Berry Plastics Corporation	0.7	0.4
Metals USA Holdings Corp.	1.2	3.7

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Supplemental Financial Statement Information Supplemental Financial Statement Information (Schedule of Other Long-Term Liabilities) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Supplemental Financial Statement Information [Abstract]
Reserve for uncertain tax positions	$ 0.8	$ 0.8
Workers compensation, noncurrent	14.7	13.1
Asset retirement obligations, noncurrent	13.3	13.9
Land obligation, noncurrent	9.1	8.9
Reclamation obligation, noncurrent	1.4	1.8
Environmental remediation obligation, noncurrent	2.2	2.2
Deferred compensation and other	6.5	5.5
Total other long-term liabilities	$ 48.0	$ 46.2

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Derivative Financial Instruments Derivative Financial Instruments (Schedule of Net Amount of Unrealized Gains (Losses) on Cash Flow Hedges Reported AOCI) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ 26.3
Fixed price aluminum customer contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	32.2
Natural gas swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months	$ (5.9)

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Consolidated Balance Sheets (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 33.9	$ 42.7	$ 103.9	$ 33.8
Accounts receivable, net	122.8	107.6
Inventories, net	202.9	186.5
Income Taxes Receivable, Current	8.3	0
Prepaid expenses	19.5	13.3
Other current assets	12.3	41.3
Total current assets	399.7	391.4
Property, plant and equipment, net	693.1	699.8
Goodwill	137.6	137.6
Other intangible assets, net	62.7	67.1
Other assets	86.6	81.6
Total assets	1,379.7	1,377.5
LIABILITIES AND EQUITY
Accounts payable	105.9	95.9
Accrued liabilities	59.3	87.3
Taxes payable	0	2.6
Current derivative liabilities, net	10.4	40.9
Current deferred tax liabilities, net	6.2	35.9
Current portion of long-term debt	3.3	2.4
Total current liabilities	185.1	265.0
Long-term debt, net	593.2	426.1
Long-term derivative liabilities, net	0.4	0.1
Pension and other post-retirement benefit liabilities	179.1	175.7
Other long-term liabilities	48.0	46.2
Long-term deferred tax liabilities	206.9	202.8
Common stock subject to redemption (0.2 shares at September 30, 2012 and December 31, 2011)	2.0	2.0
Shareholders' equity:
Preferred stock (25.0 shares authorized; $0.01 par value; no shares issued and outstanding at September 30, 2012 and December 31, 2011)	0	0
Common stock (200.0 shares authorized; $0.01 par value; 67.7 shares issued and outstanding at September 30, 2012; 67.3 shares issued and outstanding at December 31, 2011, including 0.2 shares subject to redemption at September 30, 2012 and December 31, 2011)	0.7	0.7
Capital in excess of par value	232.5	231.9
Retained earnings (accumulated deficit)	16.5	63.4
Accumulated other comprehensive income (loss)	(90.7)	(42.4)
Total shareholders' equity	159.0	253.6
Non-controlling interest	6.0	6.0
Total equity	165.0	259.6		295.7
Total liabilities and equity	$ 1,379.7	$ 1,377.5

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Supplemental Financial Statement Information (Schedule of Depreciation and Amortization) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Supplemental Financial Statement Information [Abstract]
Depreciation	$ 20.9	$ 21.4	$ 62.0	$ 63.9
Amortization of intangible assets	1.5	1.4	4.5	4.4
Amortization of other long-term assets	1.2	2.2	3.7	4.8
Total depreciation and amortization	$ 23.6	$ 25.0	$ 70.2	$ 73.1

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Consolidated Statements of Equity (USD $) In Millions	Total	Preferred Stock [Member]	Common Stock [Member]	Capital in Excess of Par Value [Member]	Retained Earnings (Accumulated Deficit) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Non-Controlling Interest [Member]
Balance, beginning of period at Dec. 31, 2010	$ 295.7	$ 0	$ 0.7	$ 227.7	$ (8.2)	$ 69.5	$ 6.0
Net income (loss)	140.9	0	0	0	140.9	0	0
Other comprehensive income (loss), net of tax	(111.9)	0	0	0	0	(111.9)	0
Issuance of common shares for share-based payment arrangements	0.7	0	0	0.7	0	0	0
Stock compensation expense related to equity-based awards	4.6	0	0	4.6	0	0	0
Excess tax benefit related to share-based payment arrangements	0.7	0	0	0.7	0	0	0
Dividends to shareholders @ $1.03 per share in the year ended December 31, 2011 and $1.37 per share in the nine months ended September 30, 2012	(69.3)	0	0	0	(69.3)	0	0
Distribution to share-based award holders @ $1.00 per share in the year ended December 31, 2011 and $1.25 per share in the nine months ended September 30, 2012	(1.8)	0	0	(1.8)	0	0	0
Balance, end of period at Dec. 31, 2011	259.6	0	0.7	231.9	63.4	(42.4)	6.0
Net income (loss)	45.3	0	0	0	45.3	0	0
Other comprehensive income (loss), net of tax	(48.3)	0	0	0	0	(48.3)	0
Issuance of common shares for share-based payment arrangements	0.5	0	0	0.5	0	0	0
Stock compensation expense related to equity-based awards	3.7	0	0	3.7	0	0	0
Shares repurchased	(0.4)	0	0	(0.4)	0	0	0
Excess tax benefit related to share-based payment arrangements	(0.1)	0	0	(0.1)	0	0	0
Dividends to shareholders @ $1.03 per share in the year ended December 31, 2011 and $1.37 per share in the nine months ended September 30, 2012	(92.2)	0	0	0	(92.2)	0	0
Distribution to share-based award holders @ $1.00 per share in the year ended December 31, 2011 and $1.25 per share in the nine months ended September 30, 2012	(3.1)	0	0	(3.1)	0	0	0
Balance, end of period at Sep. 30, 2012	$ 165.0	$ 0	$ 0.7	$ 232.5	$ 16.5	$ (90.7)	$ 6.0

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Long-Term Debt (Schedule of Outstanding Debt) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Noranda AcquisitionCo [Abstract]
Long-term debt, carrying value	$ 596.5	$ 428.5
Current portion of long-term debt	(3.3)	(2.4)
Long-term debt, net	593.2	426.1
Term B loan due 2014 [Member] | Term Loan, Net [Member]
Noranda AcquisitionCo [Abstract]
Long-term debt, carrying value	321.2	78.2
Long-term debt, fair value		78.2
Long-term debt, period end interest rate		2.05%
Revolving Credit Facility [Member] | Line of Credit [Member]
Noranda AcquisitionCo [Abstract]
Long-term debt, carrying value		0
Long-term debt, fair value		0
Senior Floating Rate Notes Due 2015 AcquisitionCo Notes [Member] | Senior Notes [Member]
Noranda AcquisitionCo [Abstract]
Long-term debt, carrying value	275.3	350.3
Long-term debt, fair value	261.5	324.0
Long-term debt, period end interest rate	4.73%	4.66%
Senior Secured Credit Facility 2012 Term B Loan [Member] | Term Loan, Net [Member]
Noranda AcquisitionCo [Abstract]
Long-term debt, fair value	321.2
Long-term debt, period end interest rate	5.75%
Asset-Backed Revolving Credit Facility [Member] | Line of Credit [Member]
Noranda AcquisitionCo [Abstract]
Long-term debt, carrying value	0
Long-term debt, fair value	$ 0

XML

Pension and Other Post-Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2012

Pension benefit plans [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit costs related to the pension plans included the following (in millions):

	Noranda Pension Plans				St. Ann Pension Plans
	Three months ended September 30,				Three months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Service cost	3.4		2.7		0.2		0.2
Interest cost	4.5		4.5		0.4		0.4
Expected return on plan assets	(4.7	)	(4.9	)	(0.6	)	(0.5	)
Recognized actuarial loss	2.8		1.3		—		—
Amortization of prior service cost	0.1		0.1		—		—
Net periodic cost	6.1		3.7		—		0.1

	Noranda Pension Plans				St. Ann Pension Plans
	Nine months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Service cost	10.0		7.9		0.6		0.5
Interest cost	13.4		13.7		1.2		1.1
Expected return on plan assets	(14.2	)	(14.7	)	(1.7	)	(1.4	)
Recognized actuarial loss	8.3		3.9		—		—
Amortization of prior service cost	0.3		0.3		—		0.1
Net periodic cost	17.8		11.1		0.1		0.3

Other post-retirement benefit plans [Member]

Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]

Schedule of Net Benefit Costs [Table Text Block]

Net periodic benefit costs related to the OPEB plans included the following (in millions):

	Noranda OPEB Plans		St. Ann OPEB Plans
	Three months ended September 30,		Three months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Service cost	0.1	0.1	0.1	0.1
Interest cost	0.2	0.1	0.1	0.2
Recognized actuarial loss	—	—	—	0.1
Net periodic cost	0.3	0.2	0.2	0.4

	Noranda OPEB Plans		St. Ann OPEB Plans
	Nine months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Service cost	0.3	0.3	0.3	0.3
Interest cost	0.5	0.3	0.3	0.6
Recognized actuarial loss	—	—	—	0.2
Net periodic cost	0.8	0.6	0.6	1.1

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Pension and Other Post-Retirement Benefits Pension and Other Post-Retirement Benefit Plans (Schedule of Net Periodic Benefit Costs) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Noranda Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 3.4	$ 2.7	$ 10.0	$ 7.9
Interest cost	4.5	4.5	13.4	13.7
Expected return on plan assets	(4.7)	(4.9)	(14.2)	(14.7)
Recognized actuarial loss	2.8	1.3	8.3	3.9
Amortization of prior service cost	0.1	0.1	0.3	0.3
Net periodic cost (benefit)	6.1	3.7	17.8	11.1
St. Ann Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.2	0.2	0.6	0.5
Interest cost	0.4	0.4	1.2	1.1
Expected return on plan assets	(0.6)	(0.5)	(1.7)	(1.4)
Recognized actuarial loss	0	0	0	0
Amortization of prior service cost	0	0	0	0.1
Net periodic cost (benefit)	0	0.1	0.1	0.3
Noranda Other Post Retirement [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.1	0.1	0.3	0.3
Interest cost	0.2	0.1	0.5	0.3
Recognized actuarial loss	0	0	0	0
Net periodic cost (benefit)	0.3	0.2	0.8	0.6
St Ann Other Post Retirement [Member]
Defined Benefit Plan Disclosure [Line Items]
Service cost	0.1	0.1	0.3	0.3
Interest cost	0.1	0.2	0.3	0.6
Recognized actuarial loss	0	0.1	0	0.2
Net periodic cost (benefit)	$ 0.2	$ 0.4	$ 0.6	$ 1.1

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Net Income Per Common Share (Footnote)

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Net income per common share disclosure

NET INCOME PER COMMON SHARE

Basic and diluted net income per common share ("EPS") were calculated as follows (in millions, except per share):

	Three months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
Net income	$	3.8	$	30.8	$	45.3	$	116.5
Weighted-average common shares outstanding:
Basic	67.68		67.23		67.49		67.00
Effect of dilutive securities	1.44		1.26		1.61		1.32
Diluted	69.12		68.49		69.10		68.32
Net income per common share:
Basic	$	0.06	$	0.46	$	0.67	$	1.74
Diluted	$	0.05	$	0.45	$	0.66	$	1.71

Certain share-based payment awards whose terms and conditions are described in Note 13 "Share-Based Payments" could potentially dilute basic EPS in the future, but were not included in the computation of diluted EPS because to do so would have been antidilutive. Those antidilutive securities were as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
Antidilutive securities	0.68	—	0.50	—

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Derivative Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2012

Derivative [Line Items]

Schedule of outstanding derivative financial instruments

The following table presents the carrying values, which were recorded at fair value, of our derivative instruments outstanding (in millions):

	September 30, 2012		December 31, 2011
	$		$
Fixed-price aluminum customer contracts	(1.9	)	2.0
Variable-price aluminum offset swaps and other	2.3		(7.5	)
Natural gas swaps	(8.3	)	(33.5	)
Natural gas fixed-price contract	0.8		—
Total	(7.1	)	(39.0	)

Schedule of gross components of net derivative balances

The following is a presentation of the gross components of our net derivative balances (in millions):

	September 30, 2012		December 31, 2011
	$		$
Current derivative assets	5.5		2.5
Current derivative liabilities	(12.7	)	(41.4	)
Current derivative assets (liabilities), net	(7.2	)	(38.9	)
Long-term derivative assets	0.5		—
Long-term derivative liabilities	(0.4	)	(0.1	)
Long-term derivative assets (liabilities), net	0.1		(0.1	)

Schedule of gross presentation of derivatives by type of contract and hedge designation

The following is a gross presentation of the derivative balances segregated by type of contract and between derivatives that are designated and qualify for hedge accounting and those that are not (in millions):

	September 30, 2012					December 31, 2011
	Derivatives that qualify for hedge accounting		Derivatives that do not qualify for hedge accounting			Derivatives that qualify for hedge accounting			Derivatives that do not qualify for hedge accounting
	Asset	Liability	Asset	Liability		Asset	Liability		Asset	Liability
Fixed-price aluminum customer contracts	—	—	0.9	(2.8	)	—	—		2.0	—
Variable-price aluminum offset swaps and other	—	—	4.3	(2.0	)	—	—		0.5	(8.0	)
Natural gas swaps	—	—	—	(8.3	)	—	(21.9	)	—	(11.6	)
Natural gas fixed-price contract	—	—	0.8	—		—	—		—	—
Total	—	—	6.0	(13.1	)	—	(21.9	)	2.5	(19.6	)

Schedule of cash flow hedges included in accumulated other comprehensive income loss

The following table presents the net amount of unrealized gains (losses) on cash flow hedges as of September 30, 2012 that were reported as a component of AOCI and are expected to be reclassified into earnings during the next twelve months (in millions):

	Net unrealized gains (losses) on cash flow hedges, pre-tax, in AOCI
	$
Fixed-price aluminum swaps	32.2
Natural gas swaps	(5.9	)
Total	26.3

Schedule of gains and losses on hedging activities

The following table presents how our hedging activities affected our unaudited consolidated statements of operations for each period (in millions):

	Derivatives qualified as hedges		Derivatives not qualified as hedges
	Amount reclassified from AOCI		Change in fair value		Total (gain) loss on hedging activities
	$		$		$
Three months ended September 30, 2011:
Fixed-price aluminum swaps	(30.7	)	—		(30.7	)
Variable-price aluminum offset swaps and other	—		6.0		6.0
Natural gas swaps	3.6		1.6		5.2
Total	(27.1	)	7.6		(19.5	)
Three months ended September 30, 2012:
Fixed-price aluminum swaps	(31.7	)	—		(31.7	)
Fixed-price aluminum customer contracts	—		7.1		7.1
Variable-price aluminum offset swaps and other	—		(6.3	)	(6.3	)
Natural gas swaps	6.4		(0.3	)	6.1
Natural gas fixed-price contract	—		(0.6	)	(0.6	)
Total	(25.3	)	(0.1	)	(25.4	)
Nine months ended September 30, 2011:
Fixed-price aluminum swaps	(84.1	)	—		(84.1	)
Variable-price aluminum offset swaps and other	—		4.9		4.9
Natural gas swaps	10.6		2.9		13.5
Interest rate swaps	—		0.1		0.1
Total	(73.5	)	7.9		(65.6	)
Nine months ended September 30, 2012:
Fixed-price aluminum swaps	(83.9	)	—		(83.9	)
Fixed-price aluminum customer contracts	—		3.9		3.9
Variable-price aluminum offset swaps and other	—		(2.2	)	(2.2	)
Natural gas swaps	19.6		0.9		20.5
Natural gas fixed-price contract	—		(0.8	)	(0.8	)
Total	(64.3	)	1.8		(62.5	)

Fixed price aluminum customer contracts [Member]

Derivative [Line Items]

Schedule of outstanding derivative financial instruments

As of September 30, 2012, our outstanding fixed-price aluminum customer contracts were as follows:

	Average hedged price per pound	Pounds hedged
Year	$	(in millions)
2012	1.04	17.3
2013	1.06	42.3

Variable price aluminum offset swaps [Member]

Derivative [Line Items]

Schedule of outstanding derivative financial instruments

As of September 30, 2012, our outstanding variable-price aluminum offset swaps were as follows:

	Average hedged price per pound	Pounds hedged
Year	$	(in millions)
2012	0.96	22.7
2013	0.95	46.5

Natural gas swaps [Member]

Derivative [Line Items]

Schedule of outstanding derivative financial instruments

As of September 30, 2012, our outstanding natural gas swaps were as follows:

	Average price per million BTUs	BTUs hedged
Year	$	(in millions)
2012	7.46	2.0

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Related Party Transactions (Footnote)

9 Months Ended

Sep. 30, 2012

Related Party Transactions [Abstract]

Related party transactions disclosure

RELATED PARTY TRANSACTIONS

We sell flat-rolled products to two customers that are affiliated with Apollo. Sales to these companies were as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Berry Plastics Corporation	2.5	2.1	7.1	7.1
Metals USA Holdings Corp.	3.4	4.2	9.1	11.5

Accounts receivable from these related parties were as follows (in millions):

	September 30, 2012	December 31, 2011
	$	$
Berry Plastics Corporation	0.7	0.4
Metals USA Holdings Corp.	1.2	3.7

In connection with the 2012 Refinancing, we paid $0.7 million in fees to Apollo Global Securities, LLC, an affiliate of Apollo that participated in the arrangement and structuring of the 2012 Refinancing.

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Derivative Financial Instruments (Schedule and Narrative of Outstanding Derivative Instruments) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended		3 Months Ended	9 Months Ended	3 Months Ended		9 Months Ended		3 Months Ended		9 Months Ended		3 Months Ended	9 Months Ended		3 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 Fixed price aluminum customer contracts [Member]	Sep. 30, 2012 Fixed price aluminum customer contracts [Member]	Sep. 30, 2012 Variable price aluminum offset swaps [Member]	Sep. 30, 2011 Variable price aluminum offset swaps [Member]	Sep. 30, 2012 Variable price aluminum offset swaps [Member]	Sep. 30, 2011 Variable price aluminum offset swaps [Member]	Sep. 30, 2012 Natural gas swaps [Member]	Sep. 30, 2011 Natural gas swaps [Member]	Sep. 30, 2012 Natural gas swaps [Member]	Sep. 30, 2011 Natural gas swaps [Member]	Sep. 30, 2012 Fixed-Price Natural Gas Contract [Member]	Sep. 30, 2012 Fixed-Price Natural Gas Contract [Member]	Sep. 30, 2011 Interest Rate Swap [Member]	Sep. 30, 2012 gain(loss)reclassified from AOCI into earnings because forecasted transaction not probable to occur [Member]	Sep. 30, 2012 Year Two Thousand and Twelve [Member] Fixed price aluminum customer contracts [Member] lb	Sep. 30, 2012 Year Two Thousand and Twelve [Member] Variable price aluminum offset swaps [Member] lb	Sep. 30, 2012 Year Two Thousand and Twelve [Member] Natural gas swaps [Member] BTUs	Sep. 30, 2012 Year Two Thousand and Twelve [Member] Fixed-Price Natural Gas Contract [Member] BTUs	May 31, 2012 Year Two Thousand and Twelve [Member] Fixed-Price Natural Gas Contract [Member] BTUs	Mar. 31, 2012 Year Two Thousand and Twelve [Member] Fixed-Price Natural Gas Contract [Member] BTUs	Sep. 30, 2012 Year Two Thousand and Thirteen [Member] Fixed price aluminum customer contracts [Member] lb	Sep. 30, 2012 Year Two Thousand and Thirteen [Member] Variable price aluminum offset swaps [Member] lb
Derivative [Line Items]
Cash Flow Hedge Gain (Loss) Reclassified to Earnings, Net	$ 25.3	$ 27.1	$ 64.3	$ 73.5	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ (6.4)	$ (3.6)	$ (19.6)	$ (10.6)	$ 0	$ 0	$ 0	$ 2.6
Average price per unit																			1.04	0.96	7.46				1.06	0.95
Amount hedged																			17,300,000	22,700,000	2,000,000	3,600,000	3,000,000	7,700,000	42,300,000	46,500,000

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Consolidated Statements of Equity Consolidated Statements of Equity (Parentheticals) (Supplemental Dividend [Member] Share-Based Award Holders [Member], USD $)	9 Months Ended	12 Months Ended
	Sep. 30, 2012	Dec. 31, 2011
Common Stock, Dividends, Per Share, Cash Paid	$ 1.25	$ 1.00

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Consolidated Balance Sheets Consolidated Balance Sheets (Parentheticals) (USD $) In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Common stock, shares subject to redemption	0.2	0.2
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	25.0	25.0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common Stock, Shares Authorized	200.0	200.0
Common stock, shares issued	67.7	67.3
Common stock, shares outstanding	67.7	67.3

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Asset Retirement and Other Obligations (Footnote)

9 Months Ended

Sep. 30, 2012

Asset Retirement and Other Obligations [Abstract]

Reclamation, land and asset retirement obligations disclosure

ASSET RETIREMENT AND OTHER OBLIGATIONS

Reclamation Obligation

St. Ann has an obligation to rehabilitate land disturbed by St. Ann's Bauxite mining operations.

Our reclamation obligations activity at St. Ann follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	4.6
Additional liabilities incurred	1.5
Liabilities settled	(4.0	)
Accretion	0.1
Balance, end of period	2.2

Land Obligation

In cases where land to be mined is privately owned, St. Ann acquires the right to mine either through a purchase of the land or by compensating the owner for disturbing the owner's surface rights. In the case of a purchase of the land, the consideration is typically cash and or a commitment to resettle the owner to another area ("St. Ann Land Obligation"). Additional consideration is paid for crops, homes, and other structures that may exist on the land but which may be destroyed or damaged by the mining activities.

Our St. Ann Land Obligation activity follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	13.2
Additional liabilities incurred	1.6
Liabilities settled	(0.9	)
Balance, end of period	13.9

Asset Retirement Obligations

Our asset retirement obligations consist of costs related to the disposal of certain spent pot liners associated with the New Madrid smelter, as well as costs associated with the future closure and post-closure care of "red mud lakes" at the Gramercy facility, where Gramercy disposes of wastes from its refining process. Asset retirement obligations are estimated based on cash flows discounted at a credit-adjusted risk-free rate.

Our asset retirement obligations activity follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	15.7
Additional liabilities incurred	0.9
Liabilities settled	(1.5	)
Accretion	0.6
Balance, end of period	15.7

As of September 30, 2012 and December 31, 2011, we had $9.2 million of restricted cash in an escrow account as security for the payment of red mud lake closure obligations that will arise under state environmental laws if we were to cease operations at the Gramercy facility. This amount is included in other assets in the accompanying unaudited consolidated balance sheets. The remaining restricted cash in other assets relates primarily to funds for workers’ compensation claims.

Environmental Remediation Obligations

In addition to our asset retirement obligations, we have identified certain environmental conditions requiring remedial action or ongoing monitoring at the Gramercy refinery. As of September 30, 2012 and December 31, 2011, we had undiscounted liabilities of $1.8 million and $1.9 million, respectively, in accrued liabilities and $2.2 million, in other long-term liabilities at each period end, for remediation of Gramercy’s known environmental conditions. Approximately $0.8 million of the recorded liability represents monitoring costs which will be incurred ratably over a 30 year period. The remainder is related to clean-up costs expected to be incurred between 2012 and 2014. These estimates are subject to change based on cost. No other responsible parties are involved in any ongoing environmental remediation activities.

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Document and Entity Information (USD $)	9 Months Ended
	Sep. 30, 2012	Oct. 19, 2012	Jun. 30, 2011
Document and Entity Information [Abstract]
Entity Registrant Name	Noranda Aluminum Holding CORP
Entity Central Index Key	0001422105
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2012
Document Fiscal Year Focus	2012
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		67,712,263
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 354,230,580

XML

Pension and Other Post-Retirement Benefits (Footnote)

9 Months Ended

Sep. 30, 2012

Defined Benefit Pension Plans and Defined Benefit Postretirement Plans Disclosure [Abstract]

Pension and Other Post-Retirement Benefits Disclosure [Text Block]

PENSIONS AND OTHER POST-RETIREMENT BENEFITS

We sponsor defined benefit pension plans for hourly and salaried employees. Benefits under our sponsored defined benefit plans are based on years of service and/or eligible compensation prior to retirement. We also sponsor OPEB plans for certain employees. These benefits include life and health insurance. In addition, we provide supplemental executive retirement benefits for certain executive officers.

On September 7, 2012, we ratified a new labor contract with the USWA at our New Madrid smelter, which includes changes to pension benefits for approximately 80% of our New Madrid workforce. The increase in benefits increased our pension liability and our unrecognized pension loss in accumulated other comprehensive income by $16.7 million (pre-tax), which we recorded during third quarter 2012. Net periodic cost for the three and nine months ended September 30, 2012 increased $0.1 million as a result of the increase in pension benefits.

Net periodic benefit costs related to the pension plans included the following (in millions):

	Noranda Pension Plans				St. Ann Pension Plans
	Three months ended September 30,				Three months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Service cost	3.4		2.7		0.2		0.2
Interest cost	4.5		4.5		0.4		0.4
Expected return on plan assets	(4.7	)	(4.9	)	(0.6	)	(0.5	)
Recognized actuarial loss	2.8		1.3		—		—
Amortization of prior service cost	0.1		0.1		—		—
Net periodic cost	6.1		3.7		—		0.1

	Noranda Pension Plans				St. Ann Pension Plans
	Nine months ended September 30,				Nine months ended September 30,
	2012		2011		2012		2011
	$		$		$		$
Service cost	10.0		7.9		0.6		0.5
Interest cost	13.4		13.7		1.2		1.1
Expected return on plan assets	(14.2	)	(14.7	)	(1.7	)	(1.4	)
Recognized actuarial loss	8.3		3.9		—		—
Amortization of prior service cost	0.3		0.3		—		0.1
Net periodic cost	17.8		11.1		0.1		0.3

Net periodic benefit costs related to the OPEB plans included the following (in millions):

	Noranda OPEB Plans		St. Ann OPEB Plans
	Three months ended September 30,		Three months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Service cost	0.1	0.1	0.1	0.1
Interest cost	0.2	0.1	0.1	0.2
Recognized actuarial loss	—	—	—	0.1
Net periodic cost	0.3	0.2	0.2	0.4

	Noranda OPEB Plans		St. Ann OPEB Plans
	Nine months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Service cost	0.3	0.3	0.3	0.3
Interest cost	0.5	0.3	0.3	0.6
Recognized actuarial loss	—	—	—	0.2
Net periodic cost	0.8	0.6	0.6	1.1

Expected Employer Contributions

We contributed $22.8 million and $0.5 million to the Noranda Pension Plans and the St. Ann Pension Plans, respectively, during the nine months ended September 30, 2012. We anticipate making approximately $4.8 million of pension funding payments in fourth quarter 2012.

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Share-Based Payments Share-Based Payments (Parenthetical) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012
Stock Options [Member] | Employee And Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	4 years 10 months
Stock Options [Member] | Investor Director Provider [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Remaining Contractual Term	5 years 1 month
Restricted Stock and Restricted Stock Units Equity and Liability Awards [Member] | Service Vesting Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage to vest on first anniversary of grant date	25.00%
Percentage to vest on second anniversary of grant date	25.00%
Percentage to vest on third anniversary of grant date	50.00%
Restricted Stock and Restricted Stock Units Equity Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period, Aggregate Intrinsic Value	1.5
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Aggregate Intrinsic Value	10.5
Restricted Stock and Restricted Stock Units Equity Awards [Member] | Service Vesting Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

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Subsidiary Issuer of Guaranteed Notes (Consolidating Statements of Cash Flows) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011
Operating Activities
Cash provided by (used in) operating activities	$ (13.8)	$ 110.3
Investing Activities
Capital expenditures	(59.8)	(44.1)
Proceeds from sale of property, plant and equipment	4.8	2.6
Cash provided by (used in) investing activities	(55.0)	(41.5)
Financing Activities
Proceeds from issuance of common shares	0.5	0.6
Dividends paid to shareholders	(92.2)	0
Distributions paid to share-based award holders	(3.1)	0
Repurchase of shares	(0.4)	0
Repayments of long-term debt	(154.8)	0
Borrowings on long-term debt	322.6	0
Payments of financing costs	(12.6)	0
Excess tax benefit related to share-based payment arrangements	0	0.7
Distribution (to parent) from subsidiary	0	0
Cash provided by (used in) financing activities	60.0	1.3
Change in cash and cash equivalents	(8.8)	70.1
Cash and cash equivalents, beginning of period	42.7	33.8
Cash and cash equivalents, end of period	33.9	103.9
Parent guarantor [Member]
Operating Activities
Cash provided by (used in) operating activities	0	(1.9)
Investing Activities
Capital expenditures	0	0
Proceeds from sale of property, plant and equipment	0	0
Cash provided by (used in) investing activities	0	0
Financing Activities
Proceeds from issuance of common shares	0.5	0.6
Dividends paid to shareholders	(92.2)
Distributions paid to share-based award holders	(3.1)
Repurchase of shares	(0.4)
Repayments of long-term debt	0
Borrowings on long-term debt	0
Payments of financing costs	0
Excess tax benefit related to share-based payment arrangements		0.7
Distribution (to parent) from subsidiary	92.7	0.9
Cash provided by (used in) financing activities	(2.5)	2.2
Change in cash and cash equivalents	(2.5)	0.3
Cash and cash equivalents, beginning of period	3.3	7.3
Cash and cash equivalents, end of period	0.8	7.6
Issuer [Member]
Operating Activities
Cash provided by (used in) operating activities	(63.9)	65.5
Investing Activities
Capital expenditures	0	0
Proceeds from sale of property, plant and equipment	0	0
Cash provided by (used in) investing activities	0	0
Financing Activities
Proceeds from issuance of common shares	0	0
Dividends paid to shareholders	0
Distributions paid to share-based award holders	0
Repurchase of shares	0
Repayments of long-term debt	(154.8)
Borrowings on long-term debt	322.6
Payments of financing costs	(12.6)
Excess tax benefit related to share-based payment arrangements		0
Distribution (to parent) from subsidiary	(92.7)	(0.9)
Cash provided by (used in) financing activities	62.5	(0.9)
Change in cash and cash equivalents	(1.4)	64.6
Cash and cash equivalents, beginning of period	31.3	20.4
Cash and cash equivalents, end of period	29.9	85.0
Subsidiary guarantors [Member]
Operating Activities
Cash provided by (used in) operating activities	46.4	38.0
Investing Activities
Capital expenditures	(53.2)	(37.4)
Proceeds from sale of property, plant and equipment	4.8	0.2
Cash provided by (used in) investing activities	(48.4)	(37.2)
Financing Activities
Proceeds from issuance of common shares	0	0
Dividends paid to shareholders	0
Distributions paid to share-based award holders	0
Repurchase of shares	0
Repayments of long-term debt	0
Borrowings on long-term debt	0
Payments of financing costs	0
Excess tax benefit related to share-based payment arrangements		0
Distribution (to parent) from subsidiary	0	0
Cash provided by (used in) financing activities	0	0
Change in cash and cash equivalents	(2.0)	0.8
Cash and cash equivalents, beginning of period	3.3	2.5
Cash and cash equivalents, end of period	1.3	3.3
Subsidiary non-guarantor [Member]
Operating Activities
Cash provided by (used in) operating activities	3.7	8.7
Investing Activities
Capital expenditures	(6.6)	(6.7)
Proceeds from sale of property, plant and equipment	0	2.4
Cash provided by (used in) investing activities	(6.6)	(4.3)
Financing Activities
Proceeds from issuance of common shares	0	0
Dividends paid to shareholders	0
Distributions paid to share-based award holders	0
Repurchase of shares	0
Repayments of long-term debt	0
Borrowings on long-term debt	0
Payments of financing costs	0
Excess tax benefit related to share-based payment arrangements		0
Distribution (to parent) from subsidiary	0	0
Cash provided by (used in) financing activities	0	0
Change in cash and cash equivalents	(2.9)	4.4
Cash and cash equivalents, beginning of period	4.8	3.6
Cash and cash equivalents, end of period	1.9	8.0
Consolidation, Eliminations [Member]
Operating Activities
Cash provided by (used in) operating activities	0	0
Investing Activities
Capital expenditures	0	0
Proceeds from sale of property, plant and equipment	0	0
Cash provided by (used in) investing activities	0	0
Financing Activities
Proceeds from issuance of common shares	0	0
Dividends paid to shareholders	0
Distributions paid to share-based award holders	0
Repurchase of shares	0
Repayments of long-term debt	0
Borrowings on long-term debt	0
Payments of financing costs	0
Excess tax benefit related to share-based payment arrangements		0
Distribution (to parent) from subsidiary	0	0
Cash provided by (used in) financing activities	0	0
Change in cash and cash equivalents	0	0
Cash and cash equivalents, beginning of period	0	0
Cash and cash equivalents, end of period	$ 0	$ 0

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Consolidated Statements of Operations (USD $) In Millions, except Per Share data, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Income Statement [Abstract]
Sales	$ 336.8	$ 400.4	$ 1,062.0	$ 1,221.3
Operating costs and expenses:
Cost of sales	323.3	350.4	959.4	1,031.8
Selling, general and administrative expenses	24.3	26.8	64.8	72.3
Total operating costs and expenses	347.6	377.2	1,024.2	1,104.1
Operating income (loss)	(10.8)	23.2	37.8	117.2
Other (income) expense: [Abstract]
Interest expense, net	8.9	5.2	24.2	16.4
Gain on hedging activities, net	(25.4)	(19.5)	(62.5)	(65.6)
Debt refinancing expense	0	0	8.1	0
Total other income, net	(16.5)	(14.3)	(30.2)	(49.2)
Income (loss) before income taxes	5.7	37.5	68.0	166.4
Income tax expense	1.9	6.7	22.7	49.9
Net income (loss)	$ 3.8	$ 30.8	$ 45.3	$ 116.5
Net income per common share:
Basic net income per common share	$ 0.06	$ 0.46	$ 0.67	$ 1.74
Diluted net income per common share	$ 0.05	$ 0.45	$ 0.66	$ 1.71
Weighted-average common shares outstanding:
Basic weighted-average common shares outstanding	67.68	67.23	67.49	67.00
Diluted weighted-average common shares outstanding	69.12	68.49	69.10	68.32
Cash dividends declared per common share	$ 0.04	$ 0.00	$ 1.37	$ 0.00

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Fair Value Measurements (Footnote)

9 Months Ended

Sep. 30, 2012

Fair Value Disclosures [Abstract]

Fair value measurements disclosure

FAIR VALUE MEASUREMENTS

The tables below set forth by level the fair value hierarchy of our assets and liabilities that were measured at fair value on a recurring basis (in millions):

	September 30, 2012
	Level 1		Level 2		Level 3	Total
	$		$		$	$
Derivative assets	—		6.0		—	6.0
Derivative liabilities	—		(13.1	)	—	(13.1	)
RSU liability awards	(0.1	)	—		—	(0.1	)
Total	(0.1	)	(7.1	)	—	(7.2	)

	December 31, 2011
	Level 1		Level 2		Level 3	Total
	$		$		$	$
Cash equivalents	2.9		—		—	2.9
Derivative assets	—		2.5		—	2.5
Derivative liabilities	—		(41.5	)	—	(41.5	)
RSU liability awards	(0.2	)	—		—	(0.2	)
Total	2.7		(39.0	)	—	(36.3	)

Cash equivalents as of December 31, 2011 were temporary cash investments with high credit quality financial institutions, which included money market funds invested in U.S. treasury securities, short-term treasury bills and commercial paper. These instruments were valued based upon unadjusted, quoted prices in active markets and were classified within Level 1. We held no cash equivalents as of September 30, 2012.

Fair values of all derivative instruments were classified as Level 2 and were primarily measured using industry standard models that incorporated inputs including quoted forward prices for commodities, interest rate curves, and current market prices for those assets and liabilities. Substantially all of the inputs are observable throughout the full term of the instrument. The counterparty of our derivative trades is Merrill Lynch, with the exception of a small portion of our other hedging contracts related to Midwest premiums.

In Note 13 "Share-Based Payments," we discuss RSU liability awards. The fair value of this Level 1 liability was determined based on the closing market price of our common stock at each balance sheet date.

In Note 8, "Long-Term Debt" we disclose the fair values of our debt instruments. The fair value of our AcquisitionCo Notes was based on recent market transactions and was classified as Level 2 within the hierarchy. While the AcquisitionCo Notes have quoted market prices used to determine fair value, we do not believe transactions of those instruments occur in sufficient frequency or volume for a Level 1 classification. The fair values of the Term B 2012 Loan and revolver were based on interest rates available at each balance sheet date. These instruments were also classified as Level 2.

We made no transfers between fair value hierarchy levels during third quarter 2012.

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Supplemental Financial Statement Information (Footnote)

9 Months Ended

Sep. 30, 2012

Supplemental Financial Statement Information [Abstract]

Additional Financial Information Disclosure [Text Block]

SUPPLEMENTAL FINANCIAL STATEMENT INFORMATION

Consolidated statements of cash flows:

Depreciation and amortization in the accompanying unaudited consolidated statements of cash flows comprised depreciation of property, plant and equipment and other, amortization of intangible assets and amortization of other long-term assets as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Depreciation of property, plant and equipment	20.9	21.4	62.0	63.9
Amortization of intangible assets	1.5	1.4	4.5	4.4
Amortization of other long-term assets	1.2	2.2	3.7	4.8
Total depreciation and amortization	23.6	25.0	70.2	73.1

Cash paid for interest and income taxes was as follows (in millions):

	Nine months ended September 30,
	2012	2011
	$	$
Interest paid	19.9	2.1
U.S. Federal and state income taxes paid, net of refunds received	32.5	59.8
Jamaican income taxes paid	—	4.0

Purchases of property, plant and equipment accrued in accounts payable and not yet paid were $8.3 million and $3.4 million for the nine months ended September 30, 2012 and 2011, respectively, and were not reflected as capital expenditures in the unaudited consolidated statements of cash flows. For the nine months ended September 30, 2012 and 2011, we capitalized interest of $0.8 million and $0.6 million, respectively, related to long-term capital projects.

During second quarter 2012, we received net proceeds of $4.5 million upon the sale of idle mill equipment from our Flat Rolled Products segment. This gain is included in (gain) loss on disposal of assets in the unaudited consolidated statement of cash flows for the nine months ended September 30, 2012. Gains and losses on disposal of assets are reported net as a component of selling, general and administrative expenses in the accompanying unaudited statements of operations.

Consolidated statements of equity:

Changes in accumulated other comprehensive income (loss) ("AOCI") were as follows (in millions):

	Unrealized net actuarial gain (loss), prior service cost and other related to pension and OPEB	Accumulated tax benefit (expense) related to unrealized net actuarial gain/loss, prior service cost and other related to pension and OPEB	Unrealized gain (loss) on derivatives	Accumulated tax benefit (expense) related to unrealized gain or loss on derivatives	Total, net of tax
Balance, December 31, 2010	(99.4)	36.8	207.1	(75.0)	69.5
Amounts recorded to AOCI for the period	(70.4)	26.6	(14.3)	5.3	(52.8)
Reclassification of amounts realized in net income	6.0	(2.2)	(98.7)	35.8	(59.1)
Balance, December 31, 2011	(163.8)	61.2	94.1	(33.9)	(42.4)
Amounts recorded to AOCI for the period	(16.7)	6.1	(3.5)	1.3	(12.8)
Reclassification of amounts realized in net income	8.6	(3.2)	(64.3)	23.4	(35.5)
Balance, September 30, 2012	(171.9)	64.1	26.3	(9.2)	(90.7)

Consolidated balance sheets:

Cash and cash equivalents consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Cash	33.9	39.8
Money market funds	—	2.9
Total cash and cash equivalents	33.9	42.7

Accounts receivable, net, consisted of the following (in millions):

	September 30, 2012		December 31, 2011
	$		$
Trade	122.9		107.7
Allowance for doubtful accounts	(0.1	)	(0.1	)
Total accounts receivable, net	122.8		107.6

Other current assets consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Current foreign deferred tax asset	3.0	3.3
Employee loans receivable, net	2.3	2.2
Current derivative assets (see Note 11, "Derivative Financial Instruments")	3.2	2.0
Restricted cash (see Note 7, "Commitments and Contingencies")	—	30.1
Other current assets	3.8	3.7
Total other current assets	12.3	41.3

Other assets consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Deferred financing costs, net of amortization	10.0	8.1
Cash surrender value of life insurance	25.3	25.1
Pension asset (see Note 10, "Pensions and Other Post-Retirement Benefits")	7.4	7.0
Restricted cash (see Note 9, "Asset Retirement and Other Obligations")	12.7	12.7
Supplies	13.6	12.7
Prepaid Jamaican income taxes	6.0	6.0
Derivative asset	0.5	—
Other	11.1	10.0
Total other assets	86.6	81.6

Accrued liabilities consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Compensation and benefits	16.2	22.5
Workers’ compensation	5.2	4.6
Other operating expenses	16.3	11.1
Power rate case related accruals (see Note 7, "Commitments and Contingencies")	—	30.1
Accrued interest	5.4	2.4
Asset retirement obligations (see Note 9, "Asset Retirement and Other Obligations")	2.4	1.8
Land obligation (see Note 9 "Asset Retirement and Other Obligations")	4.8	4.3
Reclamation obligation (see Note 9, "Asset Retirement and Other Obligations")	0.8	2.8
Environmental remediation obligations (see Note 7 "Commitments and Contingencies")	1.8	1.9
Obligations to the Government of Jamaica (see Note 17, "Non-Controlling Interest")	5.4	4.7
Pension and OPEB liabilities (see Note 10, "Pensions and Other Post-Retirement Benefits")	0.9	0.9
Restricted stock unit ("RSU") liability awards (see Note 13, "Share-Based Payments")	0.1	0.2
Total accrued liabilities	59.3	87.3

Other long-term liabilities consisted of the following (in millions):

	September 30, 2012	December 31, 2011
	$	$
Reserve for uncertain tax positions	0.8	0.8
Workers’ compensation	14.7	13.1
Asset retirement obligations (see Note 9, "Asset Retirement and Other Obligations")	13.3	13.9
Land obligation (see Note 9, "Asset Retirement and Other Obligations")	9.1	8.9
Reclamation obligation (see Note 9, "Asset Retirement and Other Obligations")	1.4	1.8
Environmental remediation obligations (see Note 7, "Commitments and Contingencies")	2.2	2.2
Deferred compensation and other	6.5	5.5
Total other long-term liabilities	48.0	46.2

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Income Taxes (Footnote)

9 Months Ended

Sep. 30, 2012

Income Tax Disclosure [Abstract]

Income Tax Disclosure [Text Block]

INCOME TAXES

Our effective income tax rate was approximately 33.3% for the third quarter 2012 and was 17.9% for the third quarter 2011. The effective tax rate for both periods was impacted by state income taxes, the Internal Revenue Code Section 199 manufacturing deduction, and accrued interest related to unrecognized tax benefits. The effective income tax rate for third quarter 2011 was impacted by the release of a portion of our reserve for uncertain tax positions which reduced third quarter 2011 income tax expense.

Our effective income tax rate was approximately 33.4% for the nine months ended September 30, 2012 and was 30.0% for the nine months ended September 30, 2011. The effective tax rate for both periods was primarily impacted by state income taxes, the Internal Revenue Code Section 199 manufacturing deduction, and accrued interest related to unrecognized tax benefits.

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Derivative Financial Instruments (Footnote)

9 Months Ended

Sep. 30, 2012

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Derivative instruments and hedging activities disclosure

DERIVATIVE FINANCIAL INSTRUMENTS

We use derivative instruments to mitigate the risks associated with fluctuations in aluminum prices, natural gas prices and interest rates. All derivatives are held for purposes other than trading.

Fixed price aluminum swaps. In 2007 and 2008, we implemented a hedging strategy designed to reduce commodity price risk and protect operating cash flows in the Primary Aluminum segment through the use of fixed price aluminum sale swaps. In addition, during first quarter 2009, we entered into fixed price aluminum purchase swaps to lock in a portion of the favorable market position of our fixed price aluminum sale swaps. In March 2009, we entered into a hedge settlement agreement with Merrill Lynch to provide a mechanism for us to monetize our favorable net fixed price swap positions to fund debt repurchases, subject to certain limitations.

In May 2010, we settled all of our remaining fixed price aluminum swaps and used the proceeds to repay indebtedness. As of September 30, 2012, we had no outstanding fixed price aluminum swaps.

Fixed-price customer arrangements. From time to time, we enter into forward contracts with our customers to sell aluminum in the future at fixed prices in the normal course of business. Prior to fourth quarter 2011, we made a determination under ASC 815-10-15 "Derivatives and Hedging" to elect normal sale accounting on our sales contracts. Beginning in fourth quarter 2011, we began not to elect normal sale accounting on certain of these customer contracts and began to record those contracts as derivatives ("fixed-price aluminum customer contracts"). Because these fixed-price customer contracts expose us to aluminum market price fluctuations, we economically hedge this risk by entering into variable price aluminum swap contracts ("variable-price aluminum offset swaps") with various brokers, typically for terms less than one year.

As of September 30, 2012, our outstanding fixed-price aluminum customer contracts were as follows:

	Average hedged price per pound	Pounds hedged
Year	$	(in millions)
2012	1.04	17.3
2013	1.06	42.3

As of September 30, 2012, our outstanding variable-price aluminum offset swaps were as follows:

	Average hedged price per pound	Pounds hedged
Year	$	(in millions)
2012	0.96	22.7
2013	0.95	46.5

Natural gas swaps. We purchase natural gas to meet our production requirements. These purchases expose us to the risk of fluctuating natural gas prices. To offset changes in the Henry Hub Index Price of natural gas, we enter into financial swaps, by purchasing the fixed forward price for the Henry Hub Index and simultaneously entering into an agreement to sell the actual Henry Hub Index Price.

As of September 30, 2012, our outstanding natural gas swaps were as follows:

	Average price per million BTUs	BTUs hedged
Year	$	(in millions)
2012	7.46	2.0

Fixed-price natural gas contract. In March 2012, we exercised a provision in the natural gas supply contract for our alumina refinery to set fixed prices for 7.7 million BTUs of the refinery's anticipated natural gas usage in the period from April through October 2012. In May 2012, we set fixed prices for an additional 3.0 million BTUs for the remaining anticipated usage through December 2012. We record these contracts as derivatives, based on the fair value of the Henry Hub Index. As of September 30, 2012, 3.6 million BTUs remain economically hedged.

We recognize all derivative instruments as either assets or liabilities at their estimated fair value in our accompanying unaudited consolidated balance sheets. The following table presents the carrying values, which were recorded at fair value, of our derivative instruments outstanding (in millions):

	September 30, 2012		December 31, 2011
	$		$
Fixed-price aluminum customer contracts	(1.9	)	2.0
Variable-price aluminum offset swaps and other	2.3		(7.5	)
Natural gas swaps	(8.3	)	(33.5	)
Natural gas fixed-price contract	0.8		—
Total	(7.1	)	(39.0	)

Merrill Lynch is the counterparty for a substantial portion of our derivatives. All swap arrangements with Merrill Lynch are part of a master arrangement which is subject to the same guarantee and security provisions as our senior secured credit facilities. The master arrangement does not require us to post additional collateral, or cash margin. We present the fair values of derivatives where Merrill Lynch is the counterparty in a net position on the consolidated balance sheets as a result of our master netting agreement. The following is a presentation of the gross components of our net derivative balances (in millions):

	September 30, 2012		December 31, 2011
	$		$
Current derivative assets	5.5		2.5
Current derivative liabilities	(12.7	)	(41.4	)
Current derivative assets (liabilities), net	(7.2	)	(38.9	)
Long-term derivative assets	0.5		—
Long-term derivative liabilities	(0.4	)	(0.1	)
Long-term derivative assets (liabilities), net	0.1		(0.1	)

The following is a gross presentation of the derivative balances segregated by type of contract and between derivatives that are designated and qualify for hedge accounting and those that are not (in millions):

	September 30, 2012					December 31, 2011
	Derivatives that qualify for hedge accounting		Derivatives that do not qualify for hedge accounting			Derivatives that qualify for hedge accounting			Derivatives that do not qualify for hedge accounting
	Asset	Liability	Asset	Liability		Asset	Liability		Asset	Liability
Fixed-price aluminum customer contracts	—	—	0.9	(2.8	)	—	—		2.0	—
Variable-price aluminum offset swaps and other	—	—	4.3	(2.0	)	—	—		0.5	(8.0	)
Natural gas swaps	—	—	—	(8.3	)	—	(21.9	)	—	(11.6	)
Natural gas fixed-price contract	—	—	0.8	—		—	—		—	—
Total	—	—	6.0	(13.1	)	—	(21.9	)	2.5	(19.6	)

For derivative instruments that are designated and qualify as cash flow hedges, the effective portion of any gain or loss on the derivative is reported as a component of AOCI and reclassified into earnings in the same period or periods during which the hedged transaction affects earnings.

• Fixed-price aluminum swaps. From January 1, 2008 to January 29, 2009, fixed price aluminum-swaps were designated and qualified as cash flow hedges. As a result of the New Madrid power outage in January 2009, we concluded that certain hedged sale transactions were no longer probable of occurring, and we discontinued hedge accounting for all our aluminum fixed price sale swaps on January 29, 2009. At that date, amounts were frozen in AOCI until such time as they are reclassified into earnings in the period the hedged sales occur, or until it is determined that the original forecasted sales are probable of not occurring. During third quarter 2012, we determined that certain of the forecasted sales transactions were no longer probable of occurring and as a result, we reclassified $2.6 million of gains into earnings, which is reflected in Gain on Hedging Activities for the three and nine months ended September 30, 2012.

• Natural gas swaps. We entered into certain natural gas contracts during the fourth quarter of 2009 that qualified for and were designated as cash flow hedges based on a portion of estimated consumption of natural gas. As a result of entering into the fixed-price natural gas contract discussed above, we discontinued hedge accounting for those swaps covered under that contract. As a result, during March 2012 and May 2012, amounts were frozen in AOCI and will be reclassified into earnings in the period the hedged transactions occur.

The following table presents the net amount of unrealized gains (losses) on cash flow hedges as of September 30, 2012 that were reported as a component of AOCI and are expected to be reclassified into earnings during the next twelve months (in millions):

	Net unrealized gains (losses) on cash flow hedges, pre-tax, in AOCI
	$
Fixed-price aluminum swaps	32.2
Natural gas swaps	(5.9	)
Total	26.3

Gains and losses on the derivatives representing hedge ineffectiveness are recognized in current earnings, along with amounts that are reclassified from AOCI; however, these amounts were not material for the periods presented. Derivatives that do not qualify for hedge accounting or have not been designated for hedge accounting treatment are adjusted to fair value through earnings in gains (losses) on hedging activities in the unaudited consolidated statements of operations.

The following table presents how our hedging activities affected our unaudited consolidated statements of operations for each period (in millions):

	Derivatives qualified as hedges		Derivatives not qualified as hedges
	Amount reclassified from AOCI		Change in fair value		Total (gain) loss on hedging activities
	$		$		$
Three months ended September 30, 2011:
Fixed-price aluminum swaps	(30.7	)	—		(30.7	)
Variable-price aluminum offset swaps and other	—		6.0		6.0
Natural gas swaps	3.6		1.6		5.2
Total	(27.1	)	7.6		(19.5	)
Three months ended September 30, 2012:
Fixed-price aluminum swaps	(31.7	)	—		(31.7	)
Fixed-price aluminum customer contracts	—		7.1		7.1
Variable-price aluminum offset swaps and other	—		(6.3	)	(6.3	)
Natural gas swaps	6.4		(0.3	)	6.1
Natural gas fixed-price contract	—		(0.6	)	(0.6	)
Total	(25.3	)	(0.1	)	(25.4	)
Nine months ended September 30, 2011:
Fixed-price aluminum swaps	(84.1	)	—		(84.1	)
Variable-price aluminum offset swaps and other	—		4.9		4.9
Natural gas swaps	10.6		2.9		13.5
Interest rate swaps	—		0.1		0.1
Total	(73.5	)	7.9		(65.6	)
Nine months ended September 30, 2012:
Fixed-price aluminum swaps	(83.9	)	—		(83.9	)
Fixed-price aluminum customer contracts	—		3.9		3.9
Variable-price aluminum offset swaps and other	—		(2.2	)	(2.2	)
Natural gas swaps	19.6		0.9		20.5
Natural gas fixed-price contract	—		(0.8	)	(0.8	)
Total	(64.3	)	1.8		(62.5	)

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Related Party Transactions Related Party Transactions (Schedules of Related Parties Activities) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Related party, Berry Plastics Corporation, an affiliate of Apollo [Member]
Related Party Transaction [Line Items]
Sales to related party	$ 2.5	$ 2.1	$ 7.1	$ 7.1
Due from affiliates	0.7		0.7		0.4
Related party, Metals USA Holdings Corp, an affiliate of Apollo [Member]
Related Party Transaction [Line Items]
Sales to related party	3.4	4.2	9.1	11.5
Due from affiliates	1.2		1.2		3.7
Related party, Apollo Global Securities, LLC, an affiliate of Apollo [Member]
Related Party Transaction [Line Items]
Fees paid to related party			$ 0.7

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Commitments and Contingencies (Footnote)

9 Months Ended

Sep. 30, 2012

Commitments and Contingencies Disclosure [Abstract]

Commitments and contingencies disclosure

COMMITMENTS AND CONTINGENCIES

Labor Commitments

We are a party to six collective bargaining agreements, each of which expires within the next five years. Our collective bargaining agreements are with the following unions: the United Steelworkers of America ("USWA"); the International Association of Machinists and Aerospace Workers; the University and Allied Workers Union ("UAWU"); the Union of Technical, Administrative and Supervisory Personnel ("UTASP"); and the Bustamante Industrial Trade Union ("BITU").

• A new agreement at our mining operations in St. Ann, Jamaica ("St. Ann") with the UTASP was signed in July 2012, which expires in December 2013.

• The agreement at St. Ann with the BITU expires in December 2012. This contract covers a small portion of our St. Ann workforce.

• On August 31, 2012, the Company reached an agreement with the USWA to temporarily extend the New Madrid aluminum smelter collective bargaining agreement, which had been scheduled to expire that day. A new five-year contract with the USWA, representing approximately 80% of our New Madrid workforce, was ratified on September 7, 2012. The newly ratified agreement will expire in August of 2017.

• Thethree-year contract in place with the USWA, representing our unionized employees at the Salisbury rolling mill, will expire in November of 2012. This contract covers approximately 88% of our Salisbury workforce.

Legal Contingencies

We are a party to legal proceedings incidental to our business. We assess the likelihood of an unfavorable outcome of each legal proceeding based upon the available facts and our historical experience with similar matters. We do not accrue a liability when we assess the likelihood of an unfavorable outcome to be remote. Where the risk of loss is probable and the costs can be reasonably estimated, we accrue a liability based on the factors mentioned above. Where the risk of loss is considered reasonably possible, we estimate the range of reasonably possible losses and disclose any reasonably possible losses, if material. We update our loss assessment as matters progress over time. Based on current knowledge, we do not believe any reasonably possible losses in excess of our accruals would be material to our unaudited consolidated financial statements.

Environmental Matters

We cannot predict what environmental laws or regulations will be enacted or amended in the future, how existing or future laws or regulations will be interpreted or enforced or the amount of future expenditures that may be required to comply with such laws or regulations. Such future requirements may result in liabilities which may have a material adverse effect on our financial condition, results of operations or cash flows.

The Environmental Protection Agency ("EPA") has developed National Ambient Air Quality Standards ("NAAQS") for six compounds currently identified as criteria pollutants. The NAAQS establishes acceptable ambient air levels of each pollutant based on a review of their effects to human health and the environment. Sulfur dioxide ("SO₂"), an emission from our New Madrid smelter facility, is one such criteria pollutant. To determine our smelter's compliance with NAAQS, we measure emissions using currently acceptable methods.

In 2010, the EPA issued regulations that increased the stringency of the SO₂ NAAQS. Federal and state regulators are in the process of developing measurement methods and time lines that will govern the implementation of those regulations. Once finalized, these implementation requirements may present material implications for our smelter's compliance with NAAQS. Failure to meet NAAQS may require us to incur significant capital or operational costs to bring our smelter into compliance and could have negative implications for permits necessary to support increases in production volumes at our smelter.

Power Contract

Electricity is our largest cash cost component in the production of primary aluminum and is a key factor to our long-term competitive position in the primary aluminum business. We have a power purchase agreement with Ameren pursuant to which we have agreed to purchase substantially all of New Madrid’s electricity through May 2020. Included in the contract is a minimum purchase requirement equal to five mega watts, calculated at peak and non-peak demand charges, or approximately $4.0 million over the remaining life of the contract. This minimum purchase requirement represents significantly less power usage than we require, given the power-intensive nature of our smelter facility. Our current rate structure with Ameren consists of two components: a base rate and a fuel adjustment clause ("FAC").

On September 3, 2010, Ameren filed a new rate case with the Missouri Public Service Commission ("MoPSC") seeking an 11.0% base rate increase. In July 2011, the MoPSC ruled on this rate case approving Ameren to increase its base rates, which increased our base rate by 5.2% effective July 31, 2011.

We are currently a party to the appeal of several rate-related issues, including rate increases approved by the MoPSC in May 2010 and July 2011 and the amount of cost increases related to the FAC. Despite these appeals, our unaudited consolidated financial statements reflect our payment of power costs at the enacted rates, with disputed amounts held in escrow by the Missouri Circuit Court. As of December 31, 2011, other current assets (see Note 3, "Supplemental Financial Statement Information" to our accompanying unaudited condensed consolidated financial statements) included $30.1 million, held in escrow related to these appeals, with a corresponding liability recorded in accrued liabilities. On November 7, 2011, the Missouri Court of Appeals issued a decision to uphold the MoPSC's January 2009 rate increase approval, and as a result, the escrowed funds were released to Ameren during first quarter 2012. The release of these funds did not result in any impact to our operating results, our net working capital, or our net assets. We had no disputed amounts held in escrow as of September 30, 2012.

On February 3, 2012, Ameren filed a new rate case with the MoPSC seeking a 14.6% base rate increase. As we have in previous rate cases, we expect to be an active participant in the MoPSC rate setting process. Any increase approved would be effective at the beginning of the month following the MoPSC's ruling. We expect a ruling on this request by January 3, 2013.

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Long-Term Debt (Narrative) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended			9 Months Ended
	Sep. 30, 2012	Mar. 31, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Dec. 31, 2011
Debt disclosure [Line Items]
Repayments of long-term debt				$ 154.8	$ 0
Debt refinancing expense	0		0	8.1	0
Long-term Debt	596.5			596.5		428.5
Borrowings on Long-Term Debt, Net of Repayments		169.4
Senior Secured Credit Facilities, 2012 Refinancing [Member]
Debt disclosure [Line Items]
Debt refinancing expense				5.7
Senior Secured Credit Facilities, 2007 Refinancing, and AcquisitionCo Notes [Member]
Debt disclosure [Line Items]
Debt refinancing expense				2.4
Term Loan, Net [Member] | Senior Secured Credit Facility 2012 Term B Loan [Member]
Debt disclosure [Line Items]
Debt instrument, face amount	325.0			325.0
Term loan, unamortized discount	2.3			2.3
Term Loan, Periodic Payment Requirement				0.8
Term Loan, Period Payment Frequency				quarterly
Term Loan, Net [Member] | Term B loan due 2014 [Member]
Debt disclosure [Line Items]
Repayments of long-term debt				78.2
Long-term Debt	321.2			321.2		78.2
Line of Credit [Member] | Asset-Backed Revolving Credit Facility [Member]
Debt disclosure [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250.0			250.0
Long-term Debt	0			0
Line of Credit Facility, Amount Outstanding	0			0
Letters of Credit Outstanding, Amount	36.1			36.1
Line of Credit Facility Maximum Borrowing Capacity Subject to Borrowing Base Calculation	132.8			132.8
Line of Credit [Member] | Revolving Credit Facility [Member]
Debt disclosure [Line Items]
Long-term Debt						0
Senior Notes [Member] | Senior Floating Rate Notes Due 2015 AcquisitionCo Notes [Member]
Debt disclosure [Line Items]
Extinguishment of Debt, Amount				75.0
Amount paid to repurchase or repay debt including fees		73.9
Long-term Debt	275.3			275.3		350.3
Minimum [Member] | Line of Credit [Member] | Asset-Backed Revolving Credit Facility [Member]
Debt disclosure [Line Items]
Line of Credit Facility Maximum Borrowing Capacity Subject to Borrowing Base Calculation	$ 20.0			$ 20.0

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Inventories (Footnote)

9 Months Ended

Sep. 30, 2012

Inventory, Net [Abstract]

Inventories disclosure

INVENTORIES

We use the LIFO method of valuing raw materials, work-in-process and finished goods inventories at our New Madrid smelter and our rolling mills. Supplies inventories at our rolling mills are valued at FIFO. Inventories at Gramercy and St. Ann and supplies at New Madrid are valued at weighted-average cost and are not subject to the LIFO adjustment. Gramercy and St. Ann inventories comprise approximately 27% and 26% of total inventories, at cost, at September 30, 2012 and December 31, 2011, respectively.

Inventories, net, consisted of the following (in millions):

	September 30, 2012		December 31, 2011
	$		$
Raw materials, at cost	65.0		71.2
Work-in-process, at cost	62.9		51.7
Finished goods, at cost	24.0		26.3
Total inventories, at cost	151.9		149.2
Last in first out adjustment	21.2		10.3
Lower of cost or market reserve	(7.8	)	(11.5	)
Inventories, at lower of cost or market	165.3		148.0
Supplies	37.6		38.5
Total inventories, net	202.9		186.5

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Property, Plant and Equipment (Footnote)

9 Months Ended

Sep. 30, 2012

Property, Plant and Equipment, Net [Abstract]

Property, plant and equipment disclosure

PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment, net, consisted of the following (in millions):

	Estimated useful lives in years			September 30, 2012		December 31, 2011
				$		$
Land				49.8		49.2
Buildings and improvements	10	—	47	149.2		128.2
Machinery and equipment	3	—	50	863.8		831.3
Construction in progress				46.4		59.1
Property, plant and equipment, at cost				1,109.2		1,067.8
Accumulated depreciation				(416.1	)	(368.0	)
Total property, plant and equipment, net				693.1		699.8

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Long-Term Debt (Footnote)

9 Months Ended

Sep. 30, 2012

Debt Disclosure [Abstract]

Long-term debt disclosure

LONG-TERM DEBT

The carrying values and fair values of our outstanding debt were as follows (in millions):

	September 30, 2012					December 31, 2011
	Carrying value		Fair value	Interest rate		Carrying value		Fair value	Interest rate
	$		$	%		$		$	%
Senior Floating Rate Notes due 2015 ("AcquisitionCo Notes")	275.3		261.5	4.73	%	350.3		324.0	4.66	%
Term B Loan, net	321.2		321.2	5.75	%	78.2		78.2	2.05	%
Revolver	—		—			—		—
Total debt, net	596.5					428.5
Less: Current portion	(3.3	)				(2.4	)
Long-term debt, net	593.2					426.1

2012 Refinancing

In first quarter 2012, we refinanced our existing senior secured credit facilities and entered into the new senior secured credit facilities consisting of the 2012 Term B Loan ($325.0 million) and the 2012 Revolver (up to $250.0 million.) We also repaid the remaining $78.2 million balance of our existing term loan. We refer to this transaction as the "2012 Refinancing." We are required to repay $0.8 million of the 2012 Term B Loan quarterly.

Using proceeds from the 2012 Refinancing, in first quarter 2012, Noranda AcquisitionCo repurchased $75.0 million in aggregate principal amount of AcquisitionCo Notes ("the 2012 Tender Offer"). Noranda AcquisitionCo paid a total of $73.9 million, including fees, in connection with the 2012 Tender Offer. The 2012 Refinancing and the 2012 Tender Offer resulted in a $169.4 million increase in our outstanding indebtedness.

We recorded debt refinancing expense of $8.1 million related to the 2012 Refinancing, comprising $5.7 million of creditor fees related to the new senior secured credit facilities and $2.4 million of deferred financing fees related to the existing senior secured credit facilities.

As of September 30, 2012, we had $321.2 million outstanding under the 2012 Term B Loan, which is recorded in our accompanying unaudited consolidated balance sheet net of $2.3 million of unamortized discount. The 2012 Revolver had no outstanding balance and outstanding letters of credit totaled $36.1 million at September 30, 2012. Our borrowing base under the 2012 Revolver is equal to the lesser of (i) $250.0 million or (ii) a calculated borrowing base. The calculated borrowing base fluctuates monthly based on the value of inventory and accounts receivable, which are influenced heavily by the LME aluminum price. Because our Revolver Fixed-Charge Coverage Ratio was less than the minimum ratio required under our debt agreements as of September 30, 2012, we must maintain at least $20.0 million of available borrowing capacity under our 2012 Revolver. This restriction will be removed when the ratio meets the required threshold. Had this restriction been in effect as of September 30, 2012, our effective calculated borrowing base would have been $132.8 million.

In September 2012, Standard & Poor's downgraded our corporate credit rating to B from B+, with a stable outlook.

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Asset Retirement and Other Obligations Asset Retirement and Other Obligations (Environmental Remediation Obligations) (Details) (USD $) In Millions, unless otherwise specified	3 Months Ended
	Sep. 30, 2012 years	Dec. 31, 2011
Environmental Exit Cost [Line Items]
Environmental remediation obligation, current	$ 1.8	$ 1.9
Environmental remediation obligation, noncurrent	2.2	2.2
Amortization period for environmental monitoring costs	30
Gramercy, monitoring costs [Member]
Environmental Exit Cost [Line Items]
Environmental remediation obligation, noncurrent	$ 0.8

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Non-Controlling Interest Non-Controlling Interest (Narrative) (Details)	9 Months Ended
	Sep. 30, 2012
Bauxite [Member]
Noncontrolling Interest [Line Items]
Percentage of product sold by a noncontrolling interest affiilate to the Company	50.00%
Parent Of Subsidiary [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent	51.00%
Subsidiary [Member]
Noncontrolling Interest [Line Items]
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	49.00%

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Pension and Other Post-Retirement Benefit Plans (Employer Contributions) (Details) (USD $) In Millions, unless otherwise specified		9 Months Ended
	Dec. 31, 2012	Sep. 30, 2012 Noranda Pension [Member]	Sep. 30, 2012 St. Ann Pension [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Contributions by Employer		$ 22.8	$ 0.5
Defined Benefit Plan, Estimated Future Employer Contributions in Current Fiscal Year	$ 4.8

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Asset Retirement and Other Obligations (Asset Retirement Obligations) (Details) (USD $) In Millions, unless otherwise specified	9 Months Ended
	Sep. 30, 2012	Dec. 31, 2011
Asset retirement obligations [Line Items]
Balance, beginning of period	$ 15.7
Additional liabilities incurred	0.9
Liabilities settled	(1.5)
Accretion	0.6
Balance, end of period	15.7
Restricted Cash and Cash Equivalents, Noncurrent	12.7	12.7
Environmental remediation obligation, noncurrent	2.2	2.2
Environmental Restoration Costs [Member] | Alumina [Member]
Asset retirement obligations [Line Items]
Restricted Cash and Cash Equivalents, Noncurrent	$ 9.2	$ 9.2

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Asset Retirement and Other Obligations (Tables)

9 Months Ended

Sep. 30, 2012

Asset Retirement and Other Obligations [Abstract]

Schedule of change in reclamation obligations

Our reclamation obligations activity at St. Ann follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	4.6
Additional liabilities incurred	1.5
Liabilities settled	(4.0	)
Accretion	0.1
Balance, end of period	2.2

Schedule of change in land obligation

Our St. Ann Land Obligation activity follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	13.2
Additional liabilities incurred	1.6
Liabilities settled	(0.9	)
Balance, end of period	13.9

Schedule of change in asset retirement obligations

Our asset retirement obligations activity follows (in millions):

	Nine months ended September 30, 2012
	$
Balance, beginning of period	15.7
Additional liabilities incurred	0.9
Liabilities settled	(1.5	)
Accretion	0.6
Balance, end of period	15.7

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Supplemental Financial Statement Information Supplemental Financial Statement Information (Schedule of Other Assets) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Supplemental Financial Statement Information [Abstract]
Deferred financing costs, net of amortization	$ 10.0	$ 8.1
Cash surrender value of life insurance	25.3	25.1
Pension asset	7.4	7.0
Restricted cash	12.7	12.7
Supplies, noncurrent	13.6	12.7
Prepaid income taxes	6.0	6.0
Derivative assets, noncurrent	0.5	0
Other miscellaneous noncurrent assets	11.1	10.0
Total other assets	$ 86.6	$ 81.6

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Share-Based Payments Share-Based Payments (Footnote)

9 Months Ended

Sep. 30, 2012

Share-based Compensation [Abstract]

Share-based payments disclosure

SHARE-BASED PAYMENTS

We recorded stock compensation expense as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Stock options	0.1	0.3	0.4	2.3
Restricted stock and restricted stock unit equity awards	0.8	0.6	3.3	1.6
Restricted stock unit liability awards	—	—	0.2	0.5
Total stock compensation expense	0.9	0.9	3.9	4.4

Share-based payment awards held by employee and non-employee directors include stock options, restricted stock, and restricted stock units ("RSUs"). Restricted stock and RSU awards have either service-vesting and/or performance-vesting requirements. We account for RSUs granted to the investor director provider group, which consists of the five full-time employees of our principal shareholders affiliated with Apollo Management VI ("Apollo") who serve on our board of directors, as liability awards.

During first quarter 2012, in respect of the supplemental dividend of $1.25 discussed in Note 12, "Shareholders' Equity", holders of stock options and of service-vesting restricted stock and RSUs received $1.25 for each share underlying such awards. We accelerated $1.2 million of stock compensation expense in connection with this payment. Holders of performance-vesting restricted stock and RSUs were granted additional performance-vesting restricted stock or RSUs, as applicable, with respect to the $1.25 per share supplemental dividend. The number of additional shares or units was computed by dividing the amount of the dividend the award holder would have received for a number of shares of our common stock equal to the number subject to the applicable award divided by the fair market value of a share of our common stock on the last trading day before the dividend payment date. These additional shares or units are subject to the same vesting conditions as the underlying awards. Generally, holders of service-vesting and performance-vesting restricted stock and RSUs were granted additional shares or units, with respect to the $0.04 per share regular quarterly dividends in the first, second and third quarters of 2012. The number of additional shares or units was computed by dividing the amount of dividend the award holder would have received had the holder owned a number of shares equal to the number subject to the applicable award by the fair market value of a share of our common stock on the last trading day before the date of the dividend payment. These additional shares or units are subject to the same vesting conditions as the underlying award.

As of September 30, 2012, total unrecognized stock compensation expense related to share-based payment awards was $5.6 million. We will recognize this amount over a weighted-average period of 1.5 years. We have not yet recognized stock compensation expense for performance-vesting restricted stock or RSUs because the performance conditions had not been determined as of September 30, 2012. Outstanding share-based payment awards include dividend equivalent units issued to restricted stock and RSU holders in connection with dividend payments to shareholders.

Our stock option activity was as follows:

	Employee options and non-employee director options				Investor director provider options
	Common shares		Weighted-average exercise price	Intrinsic value (in millions)	Common shares	Weighted-average exercise price	Intrinsic value (in millions)
			$	$		$	$
Outstanding, December 31, 2011	1,637,431		1.81	13.4	140,000	9.00	—
Exercised	(309,442	)	1.89	1.9	—	—
Outstanding, September 30, 2012	1,327,989		1.90	6.5	140,000	9.00	—
Fully vested and exercisable, September 30, 2012 (weighted-average remaining contractual term of 4.8 years and 5.1 years, respectively)	935,158		2.11	4.4	140,000	9.00	—

Options that were not in-the-money at December 31, 2011 and September 30, 2012, and therefore have a negative intrinsic value, have been excluded from intrinsic value calculations.

Restricted stock and RSU equity award activity was as follows:

	Service-vesting restricted stock and RSUs			Performance-vesting restricted stock and RSUs
	Awards		Weighted-average grant date fair value	Awards (target)
	#		$	#
Non-vested, December 31, 2011	479,465		13.66	260,866
Granted	407,760		11.75	462,053
Dividend equivalent units granted	11,466		7.94	97,321
Vested (aggregate intrinsic value of $1.5 million)	(126,928	)	14.19	—
Forfeited	(12,094	)	13.67	(4,758	)
Non-vested, September 30, 2012 (aggregate intrinsic value of $10.5 million)	759,669		12.46	815,482

We determine grant date fair value of service-vesting restricted stock and RSUs based on the closing price of our common stock on the grant date. We estimate a forfeiture rate for share-based payment awards based on historical forfeiture rates of similar awards, which was 7% for restricted stock and RSUs granted to employees during 2012. We expect all share-based payment awards granted to executives and directors to vest. Service-vesting restricted stock and RSUs will generally vest over three years, on the anniversary of the grant date, in the following increments: 25% on the first anniversary, 25% on the second anniversary and 50% on the third anniversary. A grant date had not been determined for performance-vesting awards as of September 30, 2012, because the performance conditions had not yet been determined.

As of September 30, 2012 and December 31, 2011, our accrued liabilities in the accompanying unaudited consolidated balance sheets included $0.1 million and $0.2 million related to RSU liability awards.

RSU liability award activity was as follows:

	RSUs
	#
Non-vested, December 31, 2011	34,148
Granted	25,000
Dividend equivalent units granted	457
Vested	(34,442	)
Non-vested, September 30, 2012	25,163

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Subsidiary Issuer of Guaranteed Notes (Footnote)

9 Months Ended

Sep. 30, 2012

Guarantees [Abstract]

Subsidiary Issuer of Guaranteed Notes disclosure

SUBSIDIARY ISSUER OF GUARANTEED NOTES

The AcquisitionCo Notes are fully and unconditionally guaranteed on a senior unsecured, joint and several basis by the existing and future wholly owned domestic subsidiaries of Noranda AcquisitionCo that guarantee the senior secured credit facilities. NHB and St. Ann are not guarantors of the senior secured credit facilities and, are not guarantors of the AcquisitionCo Notes. Noranda HoldCo fully and unconditionally guarantees the AcquisitionCo Notes on a joint and several basis with the subsidiary guarantors. The guarantee by Noranda HoldCo is not required by the indenture governing the AcquisitionCo Notes and may be released by Noranda HoldCo at any time. Noranda HoldCo has no independent operations or any assets other than its interest in Noranda AcquisitionCo. Noranda AcquisitionCo is a wholly owned finance subsidiary of Noranda HoldCo with no operations independent of its subsidiaries.

The following unaudited condensed consolidating financial statements present separately the financial condition and results of operations and cash flows for Noranda HoldCo (as parent guarantor), Noranda AcquisitionCo (as the issuer), the subsidiary guarantors, the subsidiary non-guarantors and eliminations ("the guarantor financial statements"). The guarantor financial statements have been prepared and presented in accordance with SEC Regulation S-X Rule 3-10 "Financial Statements of Guarantors and Issuers of Guaranteed Securities Registered or Being Registered."

The accounting policies used in the preparation of the guarantor financial statements are consistent with those found elsewhere in the accompanying unaudited consolidated financial statements. Intercompany transactions have been presented gross in the guarantor financial statements; however these transactions eliminate in consolidation.

We have reduced the amount for other intangible assets in the Subsidiary guarantors' column by $6.0 million in the following unaudited consolidating balance sheet as of December 31, 2011 to reclassify an intercompany elimination among subsidiary guarantors which had been incorrectly included within the Eliminations column.

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Balance Sheet

September 30, 2012

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations		Consolidated
	$		$		$		$		$		$
ASSETS
Current assets:
Cash and cash equivalents	0.8		29.9		1.3		1.9		—		33.9
Accounts receivable, net:
Trade	—		—		118.6		4.2		—		122.8
Affiliates	22.1		11.9		1.6		20.7		(56.3	)	—
Inventories, net	—		—		177.0		27.6		(1.7	)	202.9
Taxes receivable	7.8		—		0.8		(0.3	)	—		8.3
Prepaid expenses	0.2		—		10.9		8.4		—		19.5
Other current assets	—		—		5.4		6.9		—		12.3
Total current assets	30.9		41.8		315.6		69.4		(58.0	)	399.7
Investments in affiliates	353.4		1,508.0		—		—		(1,861.4	)	—
Advances due from affiliates	—		119.8		669.1		63.5		(852.4	)	—
Property, plant and equipment, net	—		—		632.5		60.6		—		693.1
Goodwill	—		—		137.6		—		—		137.6
Other intangible assets, net	—		—		62.7		—		—		62.7
Other assets	—		10.0		55.4		21.2		—		86.6
Total assets	384.3		1,679.6		1,872.9		214.7		(2,771.8	)	1,379.7
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable:
Trade	—		0.1		94.8		11.0		—		105.9
Affiliates	—		22.1		20.7		13.5		(56.3	)	—
Accrued liabilities	0.1		5.4		32.4		21.4		—		59.3
Derivative liabilities, net	—		—		10.4		—		—		10.4
Deferred tax liabilities	0.4		2.1		3.7		—		—		6.2
Current portion of long-term debt	—		3.3		—		—		—		3.3
Total current liabilities	0.5		33.0		162.0		45.9		(56.3	)	185.1
Long-term debt, net	—		593.2		—		—		—		593.2
Long-term derivative liabilities, net	—		—		0.4		—		—		0.4
Pension and other "OPEB" liabilities	—		—		171.3		7.8		—		179.1
Other long-term liabilities	—		(0.1	)	37.3		10.8		—		48.0
Advances due to affiliates	183.6		668.8		—		—		(852.4	)	—
Long-term deferred tax liabilities	39.2		31.3		134.6		3.5		(1.7	)	206.9
Common stock subject to redemption	2.0		—		—		—		—		2.0
Shareholders’ equity:
Preferred stock	—		—		—		—		—		—
Common stock	0.7		—		—		—		—		0.7
Capital in excess of par value	232.5		352.1		1,199.7		83.7		(1,635.5	)	232.5
Retained earnings (accumulated deficit)	16.5		92.0		255.7		59.6		(407.3	)	16.5
Accumulated other comprehensive income (loss)	(90.7	)	(90.7	)	(88.1	)	(2.6	)	181.4		(90.7	)
Total shareholders' equity	159.0		353.4		1,367.3		140.7		(1,861.4	)	159.0
Non-controlling interest	—		—		—		6.0		—		6.0
Total equity	159.0		353.4		1,367.3		146.7		(1,861.4	)	165.0
Total liabilities and equity	384.3		1,679.6		1,872.9		214.7		(2,771.8	)	1,379.7

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Balance Sheet

December 31, 2011

(in millions)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations		Consolidated
	$		$		$		$		$		$
ASSETS
Current assets:
Cash and cash equivalents	3.3		31.3		3.3		4.8		—		42.7
Accounts receivable, net:
Trade	—		—		102.5		5.1		—		107.6
Affiliates	21.7		11.9		0.7		21.6		(55.9	)	—
Inventories, net	—		—		163.5		24.3		(1.3	)	186.5
Prepaid expenses	0.2		—		6.4		6.7		—		13.3
Other current assets	—		—		33.2		8.1		—		41.3
Total current assets	25.2		43.2		309.6		70.6		(57.2	)	391.4
Investments in affiliates	422.3		1,451.5		—		—		(1,873.8	)	—
Advances due from affiliates	—		91.9		682.5		63.4		(837.8	)	—
Property, plant and equipment, net	—		—		642.5		57.3		—		699.8
Goodwill	—		—		137.6		—		—		137.6
Other intangible assets, net	—		—		67.1		—		—		67.1
Other assets	—		8.1		53.0		20.5		—		81.6
Total assets	447.5		1,594.7		1,892.3		211.8		(2,768.8	)	1,377.5
LIABILITIES AND EQUITY
Current liabilities:
Accounts payable:
Trade	—		—		88.3		7.6		—		95.9
Affiliates	—		21.7		21.6		12.6		(55.9	)	—
Accrued liabilities	0.2		2.4		63.4		21.3		—		87.3
Taxes payable	1.7		—		0.6		0.3		—		2.6
Derivative liabilities net	—		—		40.9		—		—		40.9
Deferred tax liabilities	0.1		—		35.8		—		—		35.9
Current portion of long-term debt	—		2.4		—		—		—		2.4
Total current liabilities	2.0		26.5		250.6		41.8		(55.9	)	265.0
Long-term debt	—		426.1		—		—		—		426.1
Long-term derivative liabilities, net	—		—		0.1		—		—		0.1
Pension and other "OPEB" liabilities	—		—		168.3		7.4		—		175.7
Other long-term liabilities	—		0.1		35.3		10.8		—		46.2
Advances due to affiliates	152.2		685.6		—		—		(837.8	)	—
Long-term deferred tax liabilities	37.7		34.1		128.8		3.5		(1.3	)	202.8
Common stock subject to redemption	2.0		—		—		—		—		2.0
Shareholders’ equity:
Preferred stock	—		—		—		—		—		—
Common stock	0.7		—		—		—		—		0.7
Capital in excess of par value	231.9		352.1		1,199.7		83.7		(1,635.5	)	231.9
Retained earnings (accumulated deficit)	63.4		112.6		149.3		61.2		(323.1	)	63.4
Accumulated other comprehensive income (loss)	(42.4	)	(42.4	)	(39.8	)	(2.6	)	84.8		(42.4	)
Total shareholders’ equity	253.6		422.3		1,309.2		142.3		(1,873.8	)	253.6
Non-controlling interest	—		—		—		6.0		—		6.0
Total equity	253.6		422.3		1,309.2		148.3		(1,873.8	)	259.6
Total liabilities and equity	447.5		1,594.7		1,892.3		211.8		(2,768.8	)	1,377.5

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Statement of Operations

Three months ended September 30, 2012

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations		Consolidated
	$		$		$		$		$		$
Sales	—		—		323.2		33.6		(20.0	)	336.8
Operating costs and expenses:
Cost of sales	—		—		311.0		32.3		(20.0	)	323.3
Selling, general and administrative expenses	1.3		0.1		19.9		3.0		—		24.3
Total operating costs and expenses	1.3		0.1		330.9		35.3		(20.0	)	347.6
Operating loss	(1.3	)	(0.1	)	(7.7	)	(1.7	)	—		(10.8	)
Other (income) expense:
Interest expense (income), net	(0.1	)	9.1		(0.1	)	—		—		8.9
Gain on hedging activities, net	—		—		(25.4	)	—		—		(25.4	)
Total other (income) expense, net	(0.1	)	9.1		(25.5	)	—		—		(16.5	)
Income (loss) before income taxes	(1.2	)	(9.2	)	17.8		(1.7	)	—		5.7
Income tax (benefit) expense	(0.4	)	(3.0	)	5.9		(0.6	)	—		1.9
Equity in net income (loss) of subsidiaries	4.6		10.8		—		—		(15.4	)	—
Net income (loss)	3.8		4.6		11.9		(1.1	)	(15.4	)	3.8
Other comprehensive income (loss)	(24.9	)	(24.9	)	(24.9	)	—		49.8		(24.9	)
Total comprehensive income (loss)	(21.1	)	(20.3	)	(13.0	)	(1.1	)	34.4		(21.1	)

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Statement of Operations

Three months ended September 30, 2011

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors	Eliminations		Consolidated
	$		$		$		$	$		$
Sales	—		—		383.0		40.9	(23.5	)	400.4
Operating costs and expenses:
Cost of sales	—		—		340.1		33.8	(23.5	)	350.4
Selling, general and administrative expenses	1.2		—		22.0		3.6	—		26.8
Total operating costs and expenses	1.2		—		362.1		37.4	(23.5	)	377.2
Operating income (loss)	(1.2	)	—		20.9		3.5	—		23.2
Other (income) expense:
Interest expense (income), net	(0.1	)	5.2		0.1		—	—		5.2
Gain on hedging activities, net	—		—		(19.5	)	—	—		(19.5	)
Total other (income) expense, net	(0.1	)	5.2		(19.4	)	—	—		(14.3	)
Income (loss) before income taxes	(1.1	)	(5.2	)	40.3		3.5	—		37.5
Income tax (benefit) expense	(0.2	)	(1.7	)	7.4		1.2	—		6.7
Equity in net income of subsidiaries	31.7		35.2		—		—	(66.9	)	—
Net income	30.8		31.7		32.9		2.3	(66.9	)	30.8
Other comprehensive income (loss)	(20.3	)	(20.3	)	(20.3	)	—	40.6		(20.3	)
Total comprehensive income (loss)	10.5		11.4		12.6		2.3	(26.3	)	10.5

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Statement of Operations

Nine months ended September 30, 2012

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations		Consolidated
	$		$		$		$		$		$
Sales	—		—		1,024.7		99.1		(61.8	)	1,062.0
Operating costs and expenses:
Cost of sales	—		—		929.0		92.2		(61.8	)	959.4
Selling, general and administrative expenses	5.1		0.8		49.6		9.3		—		64.8
Total operating costs and expenses	5.1		0.8		978.6		101.5		(61.8	)	1,024.2
Operating income (loss)	(5.1	)	(0.8	)	46.1		(2.4	)	—		37.8
Other (income) expense:
Interest expense (income), net	(0.3	)	24.5		—		—		—		24.2
Gain on hedging activities, net	—		—		(62.5	)	—		—		(62.5	)
Debt refinancing expense	—		8.1		—		—		—		8.1
Total other (income) expense, net	(0.3	)	32.6		(62.5	)	—		—		(30.2	)
Income (loss) before income taxes	(4.8	)	(33.4	)	108.6		(2.4	)	—		68.0
Income tax (benefit) expense	(1.5	)	(11.2	)	36.2		(0.8	)	—		22.7
Equity in net income (loss) of subsidiaries	48.6		70.8		—		—		(119.4	)	—
Net income (loss)	45.3		48.6		72.4		(1.6	)	(119.4	)	45.3
Other comprehensive income (loss)	(48.3	)	(48.3	)	(48.3	)	—		96.6		(48.3	)
Total comprehensive income (loss)	(3.0	)	0.3		24.1		(1.6	)	(22.8	)	(3.0	)

NORANDA ALUMINUM HOLDING CORPORATION

Consolidating Statement of Operations

Nine months ended September 30, 2011

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors	Eliminations		Consolidated
	$		$		$		$	$		$
Sales	—		—		1,169.4		115.3	(63.4	)	1,221.3
Operating costs and expenses:
Cost of sales	—		—		1,001.9		93.3	(63.4	)	1,031.8
Selling, general and administrative expenses	5.5		0.3		56.4		10.1	—		72.3
Total operating costs and expenses	5.5		0.3		1,058.3		103.4	(63.4	)	1,104.1
Operating income (loss)	(5.5	)	(0.3	)	111.1		11.9	—		117.2
Other (income) expense:
Interest expense (income), net	(0.3	)	16.6		0.1		—	—		16.4
Gain on hedging activities, net	—		—		(65.6	)	—	—		(65.6	)
Total other (income) expense, net	(0.3	)	16.6		(65.5	)	—	—		(49.2	)
Income (loss) before income taxes	(5.2	)	(16.9	)	176.6		11.9	—		166.4
Income tax (benefit) expense	(1.3	)	(5.6	)	52.8		4.0	—		49.9
Equity in net income of subsidiaries	120.4		131.7		—		—	(252.1	)	—
Net income	116.5		120.4		123.8		7.9	(252.1	)	116.5
Other comprehensive income (loss)	(51.6	)	(51.6	)	(51.6	)	—	103.2		(51.6	)
Total comprehensive income (loss)	64.9		68.8		72.2		7.9	(148.9	)	64.9

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Consolidating Statement of Cash Flows

Nine months ended September 30, 2012

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations	Consolidated
	$		$		$		$		$	$
OPERATING ACTIVITIES
Cash provided by (used in) operating activities	—		(63.9	)	46.4		3.7		—	(13.8	)
INVESTING ACTIVITIES
Capital expenditures	—		—		(53.2	)	(6.6	)	—	(59.8	)
Proceeds from sale of property, plant and equipment	—		—		4.8		—		—	4.8
Cash used in investing activities	—		—		(48.4	)	(6.6	)	—	(55.0	)
FINANCING ACTIVITIES
Proceeds from issuance of common shares, equity offerings	0.5		—		—		—		—	0.5
Dividends paid to shareholders	(92.2	)	—		—		—		—	(92.2	)
Distributions paid to share-based award holders	(3.1	)	—		—		—		—	(3.1	)
Repurchase of shares	(0.4	)	—		—		—		—	(0.4	)
Repayments of long-term debt	—		(154.8	)	—		—		—	(154.8	)
Borrowings on long-term debt, net	—		322.6		—		—		—	322.6
Payments of financing costs	—		(12.6	)	—		—		—	(12.6	)
Distribution (to parent) from subsidiary	92.7		(92.7	)	—		—		—	—
Cash provided by (used in) financing activities	(2.5	)	62.5		—		—		—	60.0
Change in cash and cash equivalents	(2.5	)	(1.4	)	(2.0	)	(2.9	)	—	(8.8	)
Cash and cash equivalents, beginning of period	3.3		31.3		3.3		4.8		—	42.7
Cash and cash equivalents, end of period	0.8		29.9		1.3		1.9		—	33.9

NORANDA ALUMINUM HOLDING CORPORATION

Condensed Consolidating Statement of Cash Flows

Nine months ended September 30, 2011

(in millions)

(unaudited)

	Parent guarantor (Noranda HoldCo)		Issuer (Noranda AcquisitionCo)		Subsidiary guarantors		Subsidiary non-guarantors		Eliminations	Consolidated
	$		$		$		$		$	$
OPERATING ACTIVITIES
Cash provided by (used in) operating activities	(1.9	)	65.5		38.0		8.7		—	110.3
INVESTING ACTIVITIES
Capital expenditures	—		—		(37.4	)	(6.7	)	—	(44.1	)
Proceeds from sale of property, plant and equipment	—		—		0.2		2.4		—	2.6
Cash used in investing activities	—		—		(37.2	)	(4.3	)	—	(41.5	)
FINANCING ACTIVITIES
Proceeds from issuance of common shares, equity offerings	0.6		—		—		—		—	0.6
Excess tax benefit related to share-based payment arrangements	0.7		—		—		—		—	0.7
Distribution (to parent) from subsidiary	0.9		(0.9	)	—		—		—	—
Cash provided by (used in) financing activities	2.2		(0.9	)	—		—		—	1.3
Change in cash and cash equivalents	0.3		64.6		0.8		4.4		—	70.1
Cash and cash equivalents, beginning of period	7.3		20.4		2.5		3.6		—	33.8
Cash and cash equivalents, end of period	7.6		85.0		3.3		8.0		—	103.9

XML

Supplemental Financial Statement Information (Schedule of Accounts Receivable) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Supplemental Financial Statement Information [Abstract]
Trade	$ 122.9	$ 107.7
Allowance for doubtful accounts	(0.1)	(0.1)
Total accounts receivable, net	$ 122.8	$ 107.6

XML

Non-Controlling Interest (Tables)

9 Months Ended

Sep. 30, 2012

Noncontrolling Interest Items [Abstract]

Schedule of Balance Sheet Components Related to NonControlling Interest

We consolidate NJBP into our consolidated financial statements as follows (in millions):

	September 30, 2012						December 31, 2011
	NJBP balances		Impact of Eliminations		Impact on consolidated statements		NJBP balances		Impact of Eliminations		Impact on consolidated statements
	$		$		$		$		$		$
Cash and cash equivalents	0.4		—		0.4		1.9		—		1.9
Accounts receivable, net	12.6		(12.6	)	—		11.2		(11.2	)	—
Inventories, net (consisting of maintenance supplies, inventory and fuel)	14.1		—		14.1		12.0		—		12.0
Other current assets	2.5		—		2.5		2.1		—		2.1
Property, plant and equipment, net	40.1		—		40.1		38.4		—		38.4
Other assets	4.5		—		4.5		5.2		—		5.2
Accounts payable	(56.5	)	45.8		(10.7	)	(50.1	)	42.8		(7.3	)
Accrued liabilities	(3.7	)	—		(3.7	)	(4.3	)	—		(4.3	)
Environmental, land and reclamation liabilities	(2.2	)	—		(2.2	)	(4.6	)	—		(4.6	)
Non-controlling interest	(6.0	)	—		(6.0	)	(6.0	)	—		(6.0	)
NBP’s net investment and advances to NJBP	5.8		33.2		39.0		5.8		31.6		37.4

XML

Consolidated Statements of Comprehensive Income (Loss) (USD $) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Statement of Comprehensive Income (Loss) [Abstract]
Net income (loss)	$ 3.8	$ 30.8	$ 45.3	$ 116.5
Other comprehensive income (loss):
Unrealized pension loss	(16.7)	0	(16.7)	0
Reclassification of pension and OPEB amounts realized in net income	2.9	0	8.6	0
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax	(0.1)	(4.8)	(3.5)	(7.6)
Reclassification of derivative amounts realized in net income	(25.3)	(27.1)	(64.3)	(73.5)
Total other comprehensive loss, before tax	(39.2)	(31.9)	(75.9)	(81.1)
Income tax benefit related to components of other comprehensive loss	14.3	11.6	27.6	29.5
Total other comprehensive income (loss), net of tax	(24.9)	(20.3)	(48.3)	(51.6)
Total comprehensive income	$ (21.1)	$ 10.5	$ (3.0)	$ 64.9

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Subsidiary Issuer of Guaranteed Notes (Consolidating Balance Sheets) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011	Sep. 30, 2011	Dec. 31, 2010
ASSETS
Cash and cash equivalents	$ 33.9	$ 42.7	$ 103.9	$ 33.8
Accounts receivable, net [Abstract]
Trade accounts receivable, net	122.8	107.6
Accounts receivable, affiliates	0	0
Inventories, net	202.9	186.5
Income Taxes Receivable, Current	8.3	0
Prepaid expenses	19.5	13.3
Other current assets	12.3	41.3
Total current assets	399.7	391.4
Investments in affiliates	0	0
Advances due from affiliates, noncurrent	0	0
Property, plant and equipment, net	693.1	699.8
Goodwill	137.6	137.6
Other intangible assets, net	62.7	67.1
Other assets	86.6	81.6
Total assets	1,379.7	1,377.5
LIABILITIES AND EQUITY
Trade accounts payable	105.9	95.9
Accounts payable, affiliates	0	0
Accrued liabilities	59.3	87.3
Taxes payable	0	2.6
Current derivative liabilities, net	10.4	40.9
Current deferred tax liabilities, net	6.2	35.9
Current portion of long-term debt	3.3	2.4
Total current liabilities	185.1	265.0
Long-term debt, net	593.2	426.1
Long-term derivative liabilities, net	0.4	0.1
Pension and other post-retirement benefit liabilities	179.1	175.7
Other long-term liabilities	48.0	46.2
Advances due to affiliates, noncurrent	0	0
Long-term deferred tax liabilities	206.9	202.8
Common stock subject to redemption	2.0	2.0
Shareholders' equity:
Preferred stock	0	0
Common stock	0.7	0.7
Capital in excess of par value	232.5	231.9
Retained earnings (accumulated deficit)	16.5	63.4
Accumulated other comprehensive income (loss)	(90.7)	(42.4)
Total shareholders' equity	159.0	253.6
Noncontrolling interest	6.0	6.0
Total equity	165.0	259.6		295.7
Total liabilities and equity	1,379.7	1,377.5
Parent guarantor [Member]
ASSETS
Cash and cash equivalents	0.8	3.3	7.6	7.3
Accounts receivable, net [Abstract]
Trade accounts receivable, net	0	0
Accounts receivable, affiliates	22.1	21.7
Inventories, net	0	0
Income Taxes Receivable, Current	7.8
Prepaid expenses	0.2	0.2
Other current assets	0	0
Total current assets	30.9	25.2
Investments in affiliates	353.4	422.3
Advances due from affiliates, noncurrent	0	0
Property, plant and equipment, net	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Other assets	0	0
Total assets	384.3	447.5
LIABILITIES AND EQUITY
Trade accounts payable	0	0
Accounts payable, affiliates	0	0
Accrued liabilities	0.1	0.2
Taxes payable		1.7
Current derivative liabilities, net	0	0
Current deferred tax liabilities, net	0.4	0.1
Current portion of long-term debt	0	0
Total current liabilities	0.5	2.0
Long-term debt, net	0	0
Long-term derivative liabilities, net	0	0
Pension and other post-retirement benefit liabilities	0	0
Other long-term liabilities	0	0
Advances due to affiliates, noncurrent	183.6	152.2
Long-term deferred tax liabilities	39.2	37.7
Common stock subject to redemption	2.0	2.0
Shareholders' equity:
Preferred stock	0	0
Common stock	0.7	0.7
Capital in excess of par value	232.5	231.9
Retained earnings (accumulated deficit)	16.5	63.4
Accumulated other comprehensive income (loss)	(90.7)	(42.4)
Total shareholders' equity	159.0	253.6
Noncontrolling interest	0	0
Total equity	159.0	253.6
Total liabilities and equity	384.3	447.5
Issuer [Member]
ASSETS
Cash and cash equivalents	29.9	31.3	85.0	20.4
Accounts receivable, net [Abstract]
Trade accounts receivable, net	0	0
Accounts receivable, affiliates	11.9	11.9
Inventories, net	0	0
Income Taxes Receivable, Current	0
Prepaid expenses	0	0
Other current assets	0	0
Total current assets	41.8	43.2
Investments in affiliates	1,508.0	1,451.5
Advances due from affiliates, noncurrent	119.8	91.9
Property, plant and equipment, net	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Other assets	10.0	8.1
Total assets	1,679.6	1,594.7
LIABILITIES AND EQUITY
Trade accounts payable	0.1	0
Accounts payable, affiliates	22.1	21.7
Accrued liabilities	5.4	2.4
Taxes payable		0
Current derivative liabilities, net	0	0
Current deferred tax liabilities, net	2.1	0
Current portion of long-term debt	3.3	2.4
Total current liabilities	33.0	26.5
Long-term debt, net	593.2	426.1
Long-term derivative liabilities, net	0	0
Pension and other post-retirement benefit liabilities	0	0
Other long-term liabilities	(0.1)	0.1
Advances due to affiliates, noncurrent	668.8	685.6
Long-term deferred tax liabilities	31.3	34.1
Common stock subject to redemption	0	0
Shareholders' equity:
Preferred stock	0	0
Common stock	0	0
Capital in excess of par value	352.1	352.1
Retained earnings (accumulated deficit)	92.0	112.6
Accumulated other comprehensive income (loss)	(90.7)	(42.4)
Total shareholders' equity	353.4	422.3
Noncontrolling interest	0	0
Total equity	353.4	422.3
Total liabilities and equity	1,679.6	1,594.7
Subsidiary guarantors [Member]
ASSETS
Cash and cash equivalents	1.3	3.3	3.3	2.5
Accounts receivable, net [Abstract]
Trade accounts receivable, net	118.6	102.5
Accounts receivable, affiliates	1.6	0.7
Inventories, net	177.0	163.5
Income Taxes Receivable, Current	0.8
Prepaid expenses	10.9	6.4
Other current assets	5.4	33.2
Total current assets	315.6	309.6
Investments in affiliates	0	0
Advances due from affiliates, noncurrent	669.1	682.5
Property, plant and equipment, net	632.5	642.5
Goodwill	137.6	137.6
Other intangible assets, net	62.7	67.1
Other assets	55.4	53.0
Total assets	1,872.9	1,892.3
LIABILITIES AND EQUITY
Trade accounts payable	94.8	88.3
Accounts payable, affiliates	20.7	21.6
Accrued liabilities	32.4	63.4
Taxes payable		0.6
Current derivative liabilities, net	10.4	40.9
Current deferred tax liabilities, net	3.7	35.8
Current portion of long-term debt	0	0
Total current liabilities	162.0	250.6
Long-term debt, net	0	0
Long-term derivative liabilities, net	0.4	0.1
Pension and other post-retirement benefit liabilities	171.3	168.3
Other long-term liabilities	37.3	35.3
Advances due to affiliates, noncurrent	0	0
Long-term deferred tax liabilities	134.6	128.8
Common stock subject to redemption	0	0
Shareholders' equity:
Preferred stock	0	0
Common stock	0	0
Capital in excess of par value	1,199.7	1,199.7
Retained earnings (accumulated deficit)	255.7	149.3
Accumulated other comprehensive income (loss)	(88.1)	(39.8)
Total shareholders' equity	1,367.3	1,309.2
Noncontrolling interest	0	0
Total equity	1,367.3	1,309.2
Total liabilities and equity	1,872.9	1,892.3
Subsidiary non-guarantor [Member]
ASSETS
Cash and cash equivalents	1.9	4.8	8.0	3.6
Accounts receivable, net [Abstract]
Trade accounts receivable, net	4.2	5.1
Accounts receivable, affiliates	20.7	21.6
Inventories, net	27.6	24.3
Income Taxes Receivable, Current	(0.3)
Prepaid expenses	8.4	6.7
Other current assets	6.9	8.1
Total current assets	69.4	70.6
Investments in affiliates	0	0
Advances due from affiliates, noncurrent	63.5	63.4
Property, plant and equipment, net	60.6	57.3
Goodwill	0	0
Other intangible assets, net	0	0
Other assets	21.2	20.5
Total assets	214.7	211.8
LIABILITIES AND EQUITY
Trade accounts payable	11.0	7.6
Accounts payable, affiliates	13.5	12.6
Accrued liabilities	21.4	21.3
Taxes payable		0.3
Current derivative liabilities, net	0	0
Current deferred tax liabilities, net	0	0
Current portion of long-term debt	0	0
Total current liabilities	45.9	41.8
Long-term debt, net	0	0
Long-term derivative liabilities, net	0	0
Pension and other post-retirement benefit liabilities	7.8	7.4
Other long-term liabilities	10.8	10.8
Advances due to affiliates, noncurrent	0	0
Long-term deferred tax liabilities	3.5	3.5
Common stock subject to redemption	0	0
Shareholders' equity:
Preferred stock	0	0
Common stock	0	0
Capital in excess of par value	83.7	83.7
Retained earnings (accumulated deficit)	59.6	61.2
Accumulated other comprehensive income (loss)	(2.6)	(2.6)
Total shareholders' equity	140.7	142.3
Noncontrolling interest	6.0	6.0
Total equity	146.7	148.3
Total liabilities and equity	214.7	211.8
Consolidation, Eliminations [Member]
ASSETS
Cash and cash equivalents	0	0	0	0
Accounts receivable, net [Abstract]
Trade accounts receivable, net	0	0
Accounts receivable, affiliates	(56.3)	(55.9)
Inventories, net	(1.7)	(1.3)
Income Taxes Receivable, Current	0
Prepaid expenses	0	0
Other current assets	0	0
Total current assets	(58.0)	(57.2)
Investments in affiliates	(1,861.4)	(1,873.8)
Advances due from affiliates, noncurrent	(852.4)	(837.8)
Property, plant and equipment, net	0	0
Goodwill	0	0
Other intangible assets, net	0	0
Other assets	0	0
Total assets	(2,771.8)	(2,768.8)
LIABILITIES AND EQUITY
Trade accounts payable	0	0
Accounts payable, affiliates	(56.3)	(55.9)
Accrued liabilities	0	0
Taxes payable		0
Current derivative liabilities, net	0	0
Current deferred tax liabilities, net	0	0
Current portion of long-term debt	0	0
Total current liabilities	(56.3)	(55.9)
Long-term debt, net	0	0
Long-term derivative liabilities, net	0	0
Pension and other post-retirement benefit liabilities	0	0
Other long-term liabilities	0	0
Advances due to affiliates, noncurrent	(852.4)	(837.8)
Long-term deferred tax liabilities	(1.7)	(1.3)
Common stock subject to redemption	0	0
Shareholders' equity:
Preferred stock	0	0
Common stock	0	0
Capital in excess of par value	(1,635.5)	(1,635.5)
Retained earnings (accumulated deficit)	(407.3)	(323.1)
Accumulated other comprehensive income (loss)	181.4	84.8
Total shareholders' equity	(1,861.4)	(1,873.8)
Noncontrolling interest	0	0
Total equity	(1,861.4)	(1,873.8)
Total liabilities and equity	$ (2,771.8)	$ (2,768.8)

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Segments (Footnote)

9 Months Ended

Sep. 30, 2012

Segment Reporting [Abstract]

Segments disclosure

SEGMENTS

We manage and operate our business segments based on the markets we serve and the products we produce. We have five reportable segments consisting of Bauxite, Alumina, Primary Aluminum, Flat-Rolled Products and Corporate.

Segment profit (in which certain items, primarily non-recurring costs or non-cash expenses, are not allocated to the segments and in which certain items, primarily the income statement effects of current period cash settlements of hedges, are allocated to the segments) is a measure used by management as a basis for resource allocation.

The following tables present operating and asset information for our reportable segments (in millions):

	Three months ended September 30, 2012
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	13.6		48.6		129.1		145.5		—		—		336.8
Intersegment	20.0		32.0		18.1		—		—		(70.1	)	—
Total sales	33.6		80.6		147.2		145.5		—		(70.1	)	336.8
Capital expenditures	2.6		4.6		7.1		2.7		0.9		—		17.9
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	0.3		1.8		3.1		12.0		(7.3	)	0.2		10.1
Depreciation and amortization	(2.1	)	(5.8	)	(11.0	)	(4.4	)	(0.3	)	—		(23.6	)
Last in, first out and lower of cost or market inventory adjustments	—		—		3.0		6.8		—		0.2		10.0
Gain (loss) on disposal of assets	0.2		—		(1.4	)	—		—		—		(1.2	)
Non-cash pension, accretion and stock compensation	—		(0.2	)	(1.4	)	(1.3	)	(1.1	)	—		(4.0	)
Relocation and severance	—		—		0.1		(0.1	)	(0.1	)	—		(0.1	)
Consulting fees	—		—		—		—		(0.2	)	—		(0.2	)
Cash settlements on hedging transactions	—		—		0.2		2.3		—		—		2.5
Other, net	—		—		(3.6	)	(0.1	)	—		(0.6	)	(4.3	)
Operating income (loss)	(1.6	)	(4.2	)	(11.0	)	15.2		(9.0	)	(0.2	)	(10.8	)
Interest expense, net													8.9
Gain on hedging activities, net													(25.4	)
Debt refinancing expense													—
Total other income, net													(16.5	)
Income before income taxes													5.7

In third quarter 2012, we incurred $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of our collective bargaining agreement at our New Madrid smelter. This is reflected in the table above in "Other, net."

	Three months ended September 30, 2011
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	17.4		60.6		159.2		163.2		—		—		400.4
Intersegment	23.5		43.5		28.5		—		—		(95.5	)	—
Total sales	40.9		104.1		187.7		163.2		—		(95.5	)	400.4
Capital expenditures	1.3		4.1		6.5		2.7		0.2		—		14.8
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	6.8		23.4		21.8		12.1		(8.0	)	4.1		60.2
Depreciation and amortization	(3.2	)	(5.3	)	(11.5	)	(4.7	)	(0.3	)	—		(25.0	)
Last in, first out and lower of cost or market inventory adjustments	—		—		(2.0	)	0.7		—		3.2		1.9
Gain (loss) on disposal of assets	—		—		(0.4	)	0.1		—		—		(0.3	)
Non-cash pension, accretion and stock compensation	(0.1	)	(0.1	)	(0.8	)	(0.6	)	(1.0	)	—		(2.6	)
Relocation and severance	—		—		(0.6	)	(0.1	)	(0.5	)	—		(1.2	)
Consulting fees	—		—		—		—		(1.4	)	—		(1.4	)
Cash settlements on hedging transactions	—		—		0.3		—		—		—		0.3
Other, net	0.1		(0.1	)	0.1		—		(3.5	)	(5.3	)	(8.7	)
Operating income (loss)	3.6		17.9		6.9		7.5		(14.7	)	2.0		23.2
Interest expense, net													5.2
Gain on hedging activities, net													(19.5	)
Debt refinancing expense													—
Total other income, net													(14.3	)
Income before income taxes													37.5

	Nine months ended September 30, 2012
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	37.3		162.1		413.1		449.5		—		—		1,062.0
Intersegment	61.8		106.2		58.2		—		—		(226.2	)	—
Total sales	99.1		268.3		471.3		449.5		—		(226.2	)	1,062.0
Capital expenditures	6.6		12.8		27.8		10.4		2.2		—		59.8
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	3.9		29.2		51.9		41.1		(22.3	)	—		103.8
Depreciation and amortization	(6.3	)	(16.3	)	(32.9	)	(13.7	)	(1.0	)	—		(70.2	)
Last in, first out and lower of cost or market inventory adjustments	—		—		7.4		7.2		—		(0.3	)	14.3
Gain (loss) on disposal of assets	0.2		—		(3.0	)	4.2		—		—		1.4
Non-cash pension, accretion and stock compensation	(0.1	)	(0.6	)	(4.1	)	(3.7	)	(4.6	)	—		(13.1	)
Relocation and severance	—		—		(0.1	)	(0.2	)	(0.2	)	—		(0.5	)
Consulting fees	—		—		—		—		(0.7	)	—		(0.7	)
Cash settlements on hedging transactions	—		—		0.7		6.3		—		—		7.0
Other, net	—		(0.4	)	(3.5	)	—		(0.2	)	(0.1	)	(4.2	)
Operating income (loss)	(2.3	)	11.9		16.4		41.2		(29.0	)	(0.4	)	37.8
Interest expense, net													24.2
Gain on hedging activities, net													(62.5	)
Debt refinancing expense													8.1
Total other income, net													(30.2	)
Income before income taxes													68.0

In third quarter 2012, we incurred $3.5 million of contingency costs related to assembling a back-up labor force during the renegotiation of our collective bargaining agreement at our New Madrid smelter. This is reflected in the table above in "Other, net."

	Nine months ended September 30, 2011
	Bauxite		Alumina		Primary Aluminum		Flat-Rolled Products		Corporate		Eliminations		Consolidated
	$		$		$		$		$		$		$
Sales:
External customers	52.0		182.2		498.8		488.3		—		—		1,221.3
Intersegment	63.4		135.0		62.3		—		—		(260.7	)	—
Total sales	115.4		317.2		561.1		488.3		—		(260.7	)	1,221.3
Capital expenditures	6.7		9.4		18.7		8.4		0.9		—		44.1
Reconciliation of segment profit (loss) to operating income:
Segment profit (loss)	19.2		73.9		117.6		41.8		(21.8	)	0.1		230.8
Depreciation and amortization	(7.6	)	(15.7	)	(34.8	)	(14.1	)	(0.9	)	—		(73.1	)
Last in, first out and lower of cost or market inventory adjustments	—		—		(10.4	)	(7.6	)	—		0.7		(17.3	)
Loss on disposal of assets	0.7		—		(1.6	)	(0.9	)	—		—		(1.8	)
Non-cash pension, accretion and stock compensation	(0.4	)	(0.4	)	(2.2	)	(1.8	)	(4.8	)	—		(9.6	)
Relocation and severance	—		(0.2	)	(0.8	)	(0.2	)	(0.6	)	—		(1.8	)
Consulting fees	—		—		—		—		(1.8	)	—		(1.8	)
Cash settlements on hedging transactions	—		—		(0.1	)	(2.4	)	—		—		(2.5	)
Other, net	0.1		(0.3	)	(0.1	)	—		(3.7	)	(1.7	)	(5.7	)
Operating income (loss)	12.0		57.3		67.6		14.8		(33.6	)	(0.9	)	117.2
Interest expense, net													16.4
Gain on hedging activities, net													(65.6	)
Debt refinancing expense													—
Total other income, net													(49.2	)
Income before income taxes													166.4

	September 30, 2012		December 31, 2011
Segment assets:	$		$
Bauxite	149.9		148.3
Alumina	243.2		241.7
Primary Aluminum	549.3		574.5
Flat-Rolled Products	387.5		367.5
Corporate	90.9		83.6
Eliminations	(41.1	)	(38.1	)
Total assets	1,379.7		1,377.5

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Commitments and Contingencies (Narrative) (Details) (USD $) In Millions, unless otherwise specified			9 Months Ended
	Sep. 30, 2012 years labor_union_contracts	Dec. 31, 2011	Sep. 30, 2012 Power contract [Member] MW	Feb. 03, 2012 Power contract [Member]	Jul. 31, 2011 Power contract [Member]	Sep. 03, 2010 Power contract [Member]	Sep. 30, 2012 Primary Aluminum [Member] years	Sep. 30, 2012 Flat-Rolled Products [Member] Salisbury rolling mill plant [Member] years
Labor commitments abstract [Abstract]
Number of labor union agreements	6
Expiration in years of the latest labor union agreement in effect	5
Number of years covered by a labor union agreement							5	3
Percent of employees in labor unions							80.00%	88.00%
Number of compounds identified as criteria pollutants	6
Power contract [Abstract]
Minimum purchase commitment, quantity			5
Minimum purchase commitment, amount			$ 4.0
Long-Term Contract for Purchase of Electric Power, Base Rate Increase Sought				14.60%		11.00%
Long-Term Contract for Purchase of Electric Power, Base Rate Increase					5.20%
Restricted cash, current	$ 0	$ 30.1

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Net Income Per Common Share Net Income Per Common Share (Schedule of Antidilutive Options) (Details) In Millions, unless otherwise specified	3 Months Ended		9 Months Ended
	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011
Earnings Per Share [Abstract]
Antidilutive options	0.68	0	0.50	0

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Derivative Financial Instruments Derivative Financial Instruments (Schedule of Carrying Values at Fair Value) (Details) (USD $) In Millions, unless otherwise specified	Sep. 30, 2012	Dec. 31, 2011
Derivatives, Fair Value [Line Items]
Derivatives at fair value, net	$ (7.1)	$ (39.0)
Fixed price aluminum customer contracts [Member]
Derivatives, Fair Value [Line Items]
Derivatives at fair value, net	(1.9)	2.0
Variable price aluminum offset swaps [Member]
Derivatives, Fair Value [Line Items]
Derivatives at fair value, net	2.3	(7.5)
Natural gas swaps [Member]
Derivatives, Fair Value [Line Items]
Derivatives at fair value, net	(8.3)	(33.5)
Fixed-Price Natural Gas Contract [Member]
Derivatives, Fair Value [Line Items]
Derivatives at fair value, net	$ 0.8	$ 0

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Accounting Policies (Policies)

9 Months Ended

Sep. 30, 2012

Accounting Policies [Abstract]

Organization, Consolidation and Basis of Presentation Policy

Organization, Consolidation and Basis of Presentation

The accompanying unaudited consolidated financial statements represent the consolidation of Noranda Aluminum Holding Corporation and all companies that we directly or indirectly control ("Noranda," "the Company," "we," "us," and "our"). "Noranda HoldCo" refers only to Noranda Aluminum Holding Corporation, excluding its subsidiaries. "Noranda AcquisitionCo" refers only to Noranda Aluminum Acquisition Corporation, the wholly-owned direct subsidiary of Noranda HoldCo, excluding its subsidiaries.

These unaudited consolidated financial statements have been prepared in accordance with U.S. Generally Accepted Accounting Principles ("U.S. GAAP") for interim financial information. The consolidated financial statements, including these condensed notes, are unaudited and exclude some of the disclosures required in annual consolidated financial statements. Consolidated balance sheet data as of December 31, 2011 was derived from our audited consolidated financial statements. In management's opinion, these unaudited consolidated financial statements include all adjustments (including normal recurring accruals) that are considered necessary for the fair presentation of our financial position and operating results. All intercompany transactions and accounts have been eliminated in consolidation.

The operating results presented for interim periods are not necessarily indicative of the results that may be expected for any other interim period or for the entire year. For example, our interim operating results are affected by peak power usage rates from June through September each year which affect our operating costs at the New Madrid smelter. We are also subject to seasonality associated with the demand cycles of our end-use customers, which results in lower shipment levels from November to February relative to other periods during the year.

These unaudited consolidated financial statements should be read in conjunction with our audited consolidated financial statements included in our Annual Report on Form 10-K, filed with the U.S. Securities and Exchange Commission ("SEC") on March 12, 2012.

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Shareholders' Equity Shareholders' Equity (Dividends) (Details) (USD $) In Millions, except Per Share data, unless otherwise specified	1 Months Ended	3 Months Ended		9 Months Ended		3 Months Ended				12 Months Ended
	Oct. 24, 2012	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012	Sep. 30, 2011	Sep. 30, 2012 Regular Quarterly Dividend [Member]	Jun. 30, 2012 Regular Quarterly Dividend [Member]	Mar. 31, 2012 Regular Quarterly Dividend [Member]	Mar. 31, 2012 Supplemental Dividend [Member]	Dec. 31, 2011 Common Shareholder [Member]
Dividends Disclosures [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.04	$ 0.04	$ 0.00	$ 1.37	$ 0.00
Payments of Dividends						$ 2.7	$ 2.6	$ 2.6	$ 84.3
Common Stock, Dividends, Per Share, Cash Paid						$ 0.04	$ 0.04	$ 0.04	$ 1.25	$ 1.03

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Share-Based Payments Share-Based Payments (Tables)

9 Months Ended

Sep. 30, 2012

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of stock compensation expense

We recorded stock compensation expense as follows (in millions):

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
	$	$	$	$
Stock options	0.1	0.3	0.4	2.3
Restricted stock and restricted stock unit equity awards	0.8	0.6	3.3	1.6
Restricted stock unit liability awards	—	—	0.2	0.5
Total stock compensation expense	0.9	0.9	3.9	4.4

Schedule of stock option activity

Our stock option activity was as follows:

	Employee options and non-employee director options				Investor director provider options
	Common shares		Weighted-average exercise price	Intrinsic value (in millions)	Common shares	Weighted-average exercise price	Intrinsic value (in millions)
			$	$		$	$
Outstanding, December 31, 2011	1,637,431		1.81	13.4	140,000	9.00	—
Exercised	(309,442	)	1.89	1.9	—	—
Outstanding, September 30, 2012	1,327,989		1.90	6.5	140,000	9.00	—
Fully vested and exercisable, September 30, 2012 (weighted-average remaining contractual term of 4.8 years and 5.1 years, respectively)	935,158		2.11	4.4	140,000	9.00	—

Employee And Non Employee Director [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Restricted Stock and Restricted Stock Awards Activity

Restricted stock and RSU equity award activity was as follows:

	Service-vesting restricted stock and RSUs			Performance-vesting restricted stock and RSUs
	Awards		Weighted-average grant date fair value	Awards (target)
	#		$	#
Non-vested, December 31, 2011	479,465		13.66	260,866
Granted	407,760		11.75	462,053
Dividend equivalent units granted	11,466		7.94	97,321
Vested (aggregate intrinsic value of $1.5 million)	(126,928	)	14.19	—
Forfeited	(12,094	)	13.67	(4,758	)
Non-vested, September 30, 2012 (aggregate intrinsic value of $10.5 million)	759,669		12.46	815,482

Investor Director Provider [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Schedule of Restricted Stock Liability Awards Activity [Table Text Block]

RSU liability award activity was as follows:

	RSUs
	#
Non-vested, December 31, 2011	34,148
Granted	25,000
Dividend equivalent units granted	457
Vested	(34,442	)
Non-vested, September 30, 2012	25,163

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Shareholders' Equity (Footnote)

9 Months Ended

Sep. 30, 2012

Stockholders' Equity Note [Abstract]

Shareholders' Equity Disclosure [Text Block]

SHAREHOLDERS' EQUITY

Dividends declared and paid during the nine months ended September 30, 2012 were as follows:

Declaration date	Per share dividend amount	Date paid	Total cash payment
	$/share		$ in millions
February 15, 2012	0.04	March 21, 2012	2.6
February 29, 2012	1.25	March 19, 2012	84.3
April 24, 2012	0.04	May 30, 2012	2.6
July 24, 2012	0.04	August 29, 2012	2.7

On October 24, 2012, the Board declared a regular quarterly dividend of $0.04 per share to be paid on November 28, 2012 to shareholders of record as of November 5, 2012. Cash payments related to this dividend will total approximately $2.7 million.