---

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549



---

FORM 20-F/A

Amendment No. 1



---

(Mark One)

| ̈ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ----------------------------------------------------------------------------------------------

OR



|x | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | ------------------------------------------------------------------------------------

FOR THE FISCAL YEAR ENDED DECEMBER 31, 2006

OR



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

FOR THE TRANSITION PERIOD FROM  TO

OR



| ̈ | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
|- | -------------------------------------------------------------------------------------------

DATE OF EVENT REQUIRING THIS SHELL COMPANY REPORT

Commission file number: 1-10375



---

ALUMINA LIMITED

Australian Business Number 85 004 820 419

(Exact name of Registrant as specified in its charter)



---

COMMONWEALTH OF AUSTRALIA

(Jurisdiction of incorporation or organisation)

Level 12, IBM Centre, 60 City Road, Southbank, Victoria 3006, Australia

(Address of principal
executive offices)



---

Securities registered or to be registered pursuant to Section 12(b) of the Act.



|                               |  |                                          
|------------------------------ |  | -----------------------------------------
|Title of each Class            |  | Name of each exchange on which registered
|Ordinary Shares (1)            |  | New York Stock Exchange                  
|American Depositary Shares (2) |  | New York Stock Exchange                  

Securities registered or to be registered pursuant to Section 12(g) of the Act.

None

Securities
for which there is a reporting obligation pursuant to Section 15(d) of the Act.

None



---

Indicate the number of outstanding shares of each
of the Issuers classes of capital or common stock as of December 31, 2006.

1,167,616,748 Ordinary Shares

Indicate by check mark if the registrant is a well known seasoned issuer, as defined in Rule 405 of the Securities Act.

Yes  x    No ̈

If this is an annual report, indicate by check mark if the registrant is not required to file reports
pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934.

Yes ̈No  x

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  x    No ̈

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

Large accelerated filer  x    Accelerated filer ̈Non-accelerated filer ̈

Indicate by check mark which financial
statement item the registrant has elected to follow.

Item 17 ̈Item 18  x

If this is an annual
report, indicate by check mark if the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes ̈No  x



|(1) | Not for trading but only in connection with the listing of the American Depositary Shares.
|--- | ------------------------------------------------------------------------------------------



|(2) | Evidenced by American Depositary Receipts, each American Depositary Share representing four fully paid Ordinary Shares.
|--- | -----------------------------------------------------------------------------------------------------------------------



---



---

EXPLANATORY NOTE

This Amendment No. 1 on Form 20-F/A is being filed solely to supplement the Form 20-F of Alumina Limited (Alumina or the Company) for the fiscal year ended December 31, 2006, which
was filed on June 29, 2007 (the Prior Report). Except as specifically indicated herein, no other information included in the Prior Report on Form 20-F is amended by this Form 20-F/A.

The Securities and Exchange Commission requested that reference maps be provided in relation to certain of bauxite deposits of major significance in which Alcoa World
Alumina and Chemicals (AWAC) has an interest.

This amendment provides those maps.



---

|ITEM 19. | EXHIBITS
|-------- | --------

Exhibit 1  Constitution of Alumina

Exhibit 4  Material contracts 4.1* The Alcoa World Alumina and Chemicals (AWAC) Agreements (incorporated by reference to
Exhibit 4 to Alumina Limiteds (formerly known as WMC Limited) Annual Report on Form 20-F for the fiscal year ended December 31, 2001, as filed with the Commission on April 4, 2002.). These Agreements comprise:



|       |  |                                                                                                                                                                                                                                                             
|------ |  | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|4.1.1  |  | Heads of Agreement, dated July 6, 1994 between Aluminum Company of America and Western Mining Corporation Holdings Limited.                                                                                                                                 
|       | 
|4.1.2  |  | Charter of the Strategic Council, dated December 21, 1994 between Aluminum Company of America and Western Mining Corporation Holdings Limited.                                                                                                              
|       | 
|4.1.3  |  | Formation Agreement, dated December 21, 1994 among Aluminum Company of America, Alcoa International Holdings Corporation, ASC Alumina Inc., Western Mining Corporation Holdings Limited,
Westminer International Holdings Limited and WMC Alumina (USA) Inc.
|       | 
|4.1.4  |  | Amended and Restated Limited Liability Company Agreement of Alcoa Alumina & Chemicals, L.L.C., dated December 31, 1994 among Aluminum Company of America, ASC Alumina Inc.,
Westminer International Holdings Limited and WMC Alumina (USA) Inc.             
|       | 
|4.1.5  |  | Loan Agreement, dated January 3, 1995 between Alcoa Alumina & Chemicals, L.L.C. and WMC Alumina (USA) Inc.                                                                                                                                                  
|       | 
|4.1.6  |  | Administrative and Services Agreement, dated January 1, 1995 between Alcoa Alumina & Chemicals, L.L.C. and Aluminum Company of America.                                                                                                                     
|       | 
|4.1.7  |  | AAC-ACOA Employee Services Agreement dated January 1, 1995 between Alcoa Alumina & Chemicals, L.L.C. and Aluminum Company of America.                                                                                                                       
|       | 
|4.1.8  |  | WMC-ACOA Employee Services Agreement dated January 1, 1995 between Aluminum Company of America and Western Mining Holdings Limited.                                                                                                                         
|       | 
|4.1.9  |  | Master Hedging Agreement dated December 31, 1994 among Aluminum Company of America, Alcoa of Australia Limited, Alcoa Alumina & Chemicals L.L.C., Suriname Aluminum Company L.L.C.
and Alcoa Minerals of Jamaica.                                           
|       | 
|4.1.10 |  | Assignment Agreement dated February 1, 1995 among Aluminum Company of America and Alcoa Alumina & Chemicals, L.L.C. regarding the Bauxite Contract with Compagnie des Bauxites de
Guinée.                                                                   
|       | 
|4.1.11 |  | Abalco Shareholders Agreement, dated March 29, 1995 among Alcoa Alumina & Chemicals, L.L.C., Alcoa Brazil Holdings Company and Westminer International (UK)
Limited.                                                                                        
|       | 
|4.1.12 |  | Enterprise Funding Agreement dated September 18, 2006, between Alcoa Inc., certain of its affiliates and Alumina Limited.                                                                                                                                   



|    |  |                                                                                                           
|--- |  | ----------------------------------------------------------------------------------------------------------
|4.2 |  | Demerger Deed between Alumina Limited and WMC Resources Limited dated March 5, 2003.*                     
|    | 
|4.3 |  | Transitional Services Agreement between Alumina Limited and WMC Resources Limited dated 18 December 2002.*
|    | 
|4.4 |  | Management Contracts                                                                                      



---

Exhibit 8  Significant Subsidiaries

Alumina Limiteds significant subsidiaries are as follows:



| |  |  | Alumina International Holdings Pty Ltd  Incorporated in Australia this company holds all entities in the Alumina Groups AWAC joint venture
(except for Alcoa of Australia Ltd, see below) through its indirect 40% interest in each of Alcoa World Alumina LLC, Alcoa Caribbean Holdings LLC, Alumina Espanola SA, Alcoa Chemie Nederland BV, Alcoa Chemie GMBH and Abalco SA. It is wholly owned by
Alumina.
| | - |  | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------



| |  |  | Alcoa of Australia Ltd  Incorporated in Australia, and 40% owned by Alumina, this company is a significant entity in the Alumina Groups AWAC
joint venture, with integrated bauxite mining, alumina refining and aluminium smelting facilities in Australia.
| | - |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Exhibit 12 
Certifications



|12.1 | Certification by CFO, Ken Dean
|---- | ------------------------------



|12.2 | Certification by CEO, John Marlay
|---- | ---------------------------------

Exhibit 13  Certifications



|13.1 | Certification by CEO, John Marlay
|---- | ---------------------------------



|13.2 | Certification by CFO, Ken Dean
|---- | ------------------------------

Exhibit 99



|99.1 | Maps of certain bauxite deposits of major significance in which Alcoa World Alumina and Chemicals has an interest.
|---- | ------------------------------------------------------------------------------------------------------------------

---

|* | Previously filed as an exhibit to Alumina Limiteds Form 20-F for the year ended December 31, 2002.
|- | ---------------------------------------------------------------------------------------------------