SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549
                                ----------------

                                 SCHEDULE 13G/A
                                 (Rule 13d-102)
                                ----------------

           INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT TO
            RULES 13d-1(b), (c), AND (d) AND AMENDMENTS THERETO FILED
                                PURSUANT TO 13d-2

                               (Amendment No. 1)*


                           Kaiser Aluminum Corporation
                                (Name of Issuer)

                          Common Stock, $.01 par value
                         (Title of Class of Securities)

                                    483007704
                                 (CUSIP Number)

                                December 31, 2007
             (Date of Event Which Requires Filing of this Statement)


     Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
     [ ] Rule 13d-1(b)
     [X] Rule 13d-1(c)
     [ ] Rule 13d-1(d)

-----------

     * The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which would
alter the disclosures provided in a prior cover page.


     The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).







Schedule 13 G/A                                                    Page 2 of 12
CUSIP No. 483007704

-----------------------------------------------------------------------------
     (1)  NAME OF REPORTING PERSON
          OZ Management LP
-----------------------------------------------------------------------------
     (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                    (a) [ ]
                                                                    (b) [x]
-----------------------------------------------------------------------------
     (3)  SEC USE ONLY

-----------------------------------------------------------------------------
     (4)  CITIZENSHIP OR PLACE OF ORGANIZATION
          Delaware
-----------------------------------------------------------------------------

NUMBER OF      (5)  SOLE VOTING POWER
                    659,795
SHARES
               --------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    0
OWNED BY       --------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    659,795
REPORTING      --------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    0
-----------------------------------------------------------------------------
     (9)  AGGREGATE AMOUNT BENEFICIALLY OWNED
          BY EACH REPORTING PERSON
          659,795
-----------------------------------------------------------------------------
    (10)  CHECK BOX IF THE AGGREGATE AMOUNT
          IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
-----------------------------------------------------------------------------
    (11)  PERCENT OF CLASS REPRESENTED
          BY AMOUNT IN ROW (9)
          3.21%
-----------------------------------------------------------------------------
    (12)  TYPE OF REPORTING PERSON
          IA
-----------------------------------------------------------------------------







Schedule 13 G/A                                                    Page 3 of 12
CUSIP No. 483007704

-----------------------------------------------------------------------------
     (1)  NAME OF REPORTING PERSON
          Och-Ziff Holding Corporation
-----------------------------------------------------------------------------
     (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                    (a) [ ]
                                                                    (b) [x]
-----------------------------------------------------------------------------
     (3)  SEC USE ONLY

-----------------------------------------------------------------------------
     (4)  CITIZENSHIP OR PLACE OF ORGANIZATION
          Delaware
-----------------------------------------------------------------------------

NUMBER OF      (5)  SOLE VOTING POWER
                    659,795
SHARES
               -------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    0
OWNED BY       --------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    659,795
REPORTING      --------------------------------------------------------------_

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    0
-----------------------------------------------------------------------------
     (9)  AGGREGATE AMOUNT BENEFICIALLY OWNED
          BY EACH REPORTING PERSON
          659,795
-----------------------------------------------------------------------------
    (10)  CHECK BOX IF THE AGGREGATE AMOUNT
          IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
-----------------------------------------------------------------------------
    (11)  PERCENT OF CLASS REPRESENTED
          BY AMOUNT IN ROW (9)
          3.21%
-----------------------------------------------------------------------------
    (12)  TYPE OF REPORTING PERSON
          CO
-----------------------------------------------------------------------------





Schedule 13 G/A                                                    Page 4 of 12
CUSIP No. 483007704

-----------------------------------------------------------------------------
     (1)  NAME OF REPORTING PERSON
          Och-Ziff Capital Management Group LLC
-----------------------------------------------------------------------------
     (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                    (a) [ ]
                                                                    (b) [x]
-----------------------------------------------------------------------------
     (3)  SEC USE ONLY

-----------------------------------------------------------------------------
     (4)  CITIZENSHIP OR PLACE OF ORGANIZATION
          Delaware
-----------------------------------------------------------------------------

NUMBER OF      (5)  SOLE VOTING POWER
                    690,722
SHARES
               -------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    0
OWNED BY       --------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    690,722
REPORTING      --------------------------------------------------------------_

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    0
-----------------------------------------------------------------------------
     (9)  AGGREGATE AMOUNT BENEFICIALLY OWNED
          BY EACH REPORTING PERSON
          690,722
-----------------------------------------------------------------------------
    (10)  CHECK BOX IF THE AGGREGATE AMOUNT
          IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
-----------------------------------------------------------------------------
    (11)  PERCENT OF CLASS REPRESENTED
          BY AMOUNT IN ROW (9)
          3.36%
-----------------------------------------------------------------------------
    (12)  TYPE OF REPORTING PERSON
          HC
-----------------------------------------------------------------------------





Schedule 13 G/A                                                    Page 5 of 12
CUSIP No. 483007704

-----------------------------------------------------------------------------
     (1)  NAME OF REPORTING PERSON
          Daniel S. Och
-----------------------------------------------------------------------------
     (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                    (a) [ ]
                                                                    (b) [x]
-----------------------------------------------------------------------------
     (3)  SEC USE ONLY

-----------------------------------------------------------------------------
     (4)  CITIZENSHIP OR PLACE OF ORGANIZATION
          United States
-----------------------------------------------------------------------------

NUMBER OF      (5)  SOLE VOTING POWER
                    690,722
SHARES
               -------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    0
OWNED BY       --------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    690,722
REPORTING      --------------------------------------------------------------_

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    0
-----------------------------------------------------------------------------
     (9)  AGGREGATE AMOUNT BENEFICIALLY OWNED
          BY EACH REPORTING PERSON
          690,722
-----------------------------------------------------------------------------
    (10)  CHECK BOX IF THE AGGREGATE AMOUNT
          IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
-----------------------------------------------------------------------------
    (11)  PERCENT OF CLASS REPRESENTED
          BY AMOUNT IN ROW (9)
          3.36%
-----------------------------------------------------------------------------
    (12)  TYPE OF REPORTING PERSON
          IN
-----------------------------------------------------------------------------






Schedule 13 G/A                                                    Page 6 of 12
CUSIP No. 483007704

-----------------------------------------------------------------------------
     (1)  NAME OF REPORTING PERSON
          OZ Master Fund, Ltd.
-----------------------------------------------------------------------------
     (2)  CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
                                                                    (a) [ ]
                                                                    (b) [x]
-----------------------------------------------------------------------------
     (3)  SEC USE ONLY

-----------------------------------------------------------------------------
     (4)  CITIZENSHIP OR PLACE OF ORGANIZATION
          Cayman Islands
-----------------------------------------------------------------------------

NUMBER OF      (5)  SOLE VOTING POWER
                    625,804
SHARES
               -------------------------------------------------------------

BENEFICIALLY   (6)  SHARED VOTING POWER
                    0
OWNED BY       --------------------------------------------------------------

EACH           (7)  SOLE DISPOSITIVE POWER
                    625,804
REPORTING      --------------------------------------------------------------

PERSON WITH    (8)  SHARED DISPOSITIVE POWER
                    0
-----------------------------------------------------------------------------
     (9)  AGGREGATE AMOUNT BENEFICIALLY OWNED
          BY EACH REPORTING PERSON
          625,804
-----------------------------------------------------------------------------
    (10)  CHECK BOX IF THE AGGREGATE AMOUNT
          IN ROW (9) EXCLUDES CERTAIN SHARES                             [ ]
-----------------------------------------------------------------------------
    (11)  PERCENT OF CLASS REPRESENTED
          BY AMOUNT IN ROW (9)
          3.04%
-----------------------------------------------------------------------------
    (12)  TYPE OF REPORTING PERSON
          CO
-----------------------------------------------------------------------------





Schedule 13 G/A                                                    Page 7 of 12
CUSIP No. 483007704

ITEM 1(a).  NAME OF ISSUER:
            Kaiser Aluminum Corporation

ITEM 1(b).  ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
            27422 Portola Parkway, Suite 350, Foothill Ranch, CA 92610

ITEMS 2(a), 2(b) and 2(c). NAME OF PERSON FILING, ADDRESS OF PRINCIPAL BUSINESS
OFFICE AND CITIZENSHIP:

     This statement is filed by the entities and persons listed below, all of
whom together are referred to herein as the "Reporting Persons":

         (i)   OZ Management LP ("OZ"), a Delaware limited partnership,
               with respect to the Shares reported in this Schedule 13G held by
               certain investment funds and discretionary accounts managed
               by OZ (the "Accounts").

        (ii)   Och-Ziff Holding Corporation ("OZHC"), a Delaware
               corporation, which serves as the general partner of OZ,
               with respect to the Shares reported in this Schedule 13G
               managed by OZ and held by the Accounts.

       (iii)   Och-Ziff Capital Management Group LLC ("OZM"), a Delaware
               limited liability company, is a holding company, which is
               the sole shareholder of OZHC and Och-Ziff Holding LLC, a
               Delaware limited liability company, which serves as the
               general partner of another investment fund, with respect to
               the Shares reported in this Schedule 13G.

        (iv)   Daniel S. Och, who is the Chief Executive Officer of OZHC
               and the CEO and Executive Managing Director of Och-Ziff
               Capital Management Group LLC, with respect to the Shares
               reported in this Schedule 13G managed by OZ and held by the
               Accounts.

         (v)   OZ Master Fund, Ltd. ("OZMD"), a Cayman Islands company, with
               respect to shares owned by it.

          The citizenship of OZ, OZHC, OZM and OZMD is set forth above. Daniel
S. Och is a United States citizen.

          The address of the principal business office of each of the Reporting
Persons except OZMD is 9 West 57th Street, 39th Floor, New York, NY 10019. The
address of the principal business office of OZMD is c/o Goldman Sachs (Cayman)
Trust, Limited, P.O. Box 896, Suite 3307, Gardenia Court, 45 Market Street,
Camana Bay, Grand Cayman, Cayman Islands.






Schedule 13 G/A                                                    Page 8 of 12
CUSIP No. 483007704

ITEM 2(d).  TITLE OF CLASS OF SECURITIES:
            Common Stock, $.01 par value.

ITEM 2(e).  CUSIP NUMBER:
            483007704

ITEM 3.     IF THIS STATEMENT IS FILED PURSUANT TO ss.ss. 240.13d-1(b) or
240.13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A:

          (a)  [ ] Broker or dealer registered under Section 15 of the Act;

          (b)  [ ] Bank as defined in Section 3(a)(6) of the Act;

          (c)  [ ] Insurance Company as defined in Section 3(a)(19) of the
                   Act;

          (d)  [ ] Investment Company registered under Section 8 of the
                   Investment Company Act of 1940;

          (e)  [ ] Investment Adviser registered under Section 203 of the
                   Investment Advisers Act of 1940: see Rule 13d-
                   1(b)(1)(ii)(E);

          (f)  [ ] Employee Benefit Plan, Pension Fund which is subject to
                   the provisions of the Employee Retirement Income Security
                   Act of 1974 or Endowment Fund; see Rule 13d- 1(b)(1)(ii)(F);

          (g)  [ ] Parent Holding Company, in accordance with Rule 13d-
                   1(b)(ii)(G);

          (h)  [ ] Savings Associations as defined in Section 3(b) of the
                   Federal Deposit Insurance Act;

          (i)  [ ] Church Plan that is excluded from the definition of an
                   investment company under Section 3(c)(14) of the Investment
                   Company Act of 1940;

          (j)  [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

     IF THIS STATEMENT IS FILED PURSUANT TO Rule 13d-1(c), CHECK THIS BOX. [x]






Schedule 13 G/A                                                    Page 9 of 12
CUSIP No. 483007704

ITEM 4.     OWNERSHIP.

            OZ serves as principal investment manager to a number of investment
funds and discretionary accounts with respect to which it has voting and
dispositive authority over the Shares reported in this Schedule 13G, including
such an account for OZMD. OZHC serves as the general partner of OZ. As such, it
may be deemed to control OZ and therefore may be deemed to be the beneficial
owner of the Shares reported in this Schedule 13G. OZM is the sole shareholder
of OZHC and Och-Ziff Holding LLC. As such, it may be deemed to control OZHC and
Och-Ziff Holding LLC and therefore may be deemed to be the beneficial owner of
the Shares reported in this Schedule 13G. Mr. Daniel S. Och is the Chief
Executive Officer and Executive Managing Director of OZM. As such, he may be
deemed to control such entity and therefore be deemed to be the beneficial owner
of the Shares reported in this Schedule 13G.

           Each of the Reporting Persons hereby disclaims any beneficial
ownership of any such Shares.

         A. OZ
         (a) Amount beneficially owned: 659,795
         (b) Percent of class: 3.21%
             (All percentages herein are based on 20,581,313 shares of
             Common Stock reported to be outstanding as of October 31, 2007,
             as reflected in the Form 10-Q filed by the Company on
             November 14, 2007.)
         (c) Number of shares as to which such person has:
                  (i)    sole power to vote or to direct the vote
                         659,795
                  (ii)   shared power to vote or to direct the vote
                         0
                  (iii)  sole power to dispose or to direct the disposition of
                         659,795
                  (iv)   shared power to dispose or to direct the disposition of
                         0

      B. OZHC
        (a) Amount beneficially owned: 659,795
        (b) Percent of class: 3.21%
        (c) Number of shares as to which such person has:
                  (i)    sole power to vote or to direct the vote
                         659,795
                  (ii)   shared power to vote or to direct the vote
                         0
                  (iii)  sole power to dispose or to direct the disposition of
                         659,795
                  (iv)   shared power to dispose or to direct the disposition of
                         0






Schedule 13 G/A                                                    Page 10 of 12
CUSIP No. 483007704

      C. OZM
        (a) Amount beneficially owned: 690,722
        (b) Percent of class: 3.36%
        (c) Number of shares as to which such person has:
                  (i)    sole power to vote or to direct the vote
                         690,722
                  (ii)   shared power to vote or to direct the vote
                         0
                  (iii)  sole power to dispose or to direct the disposition of
                         690,722
                  (iv)   shared power to dispose or to direct the disposition of
                         0

      D. Daniel S. Och
        (a) Amount beneficially owned: 690,722
        (b) Percent of class: 3.36%
        (c) Number of shares as to which such person has:
                  (i)    sole power to vote or to direct the vote
                         690,722
                  (ii)   shared power to vote or to direct the vote
                         0
                  (iii)  sole power to dispose or to direct the disposition of
                         690,722
                  (iv)   shared power to dispose or to direct the disposition of
                         0

      E. OZMD
        (a) Amount beneficially owned: 625,804
        (b) Percent of class: 3.04%
        (c) Number of shares as to which such person has:
                  (i)    sole power to vote or to direct the vote
                         625,804
                  (ii)   shared power to vote or to direct the vote
                         0
                  (iii)  sole power to dispose or to direct the disposition of
                         625,804
                  (iv)   shared power to dispose or to direct the disposition of
                         0

ITEM 5.     OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS.
            If this statement is being filed to report the fact as of the date
hereof the Reporting Persons have ceased to be the beneficial owner of more than
five percent of the class of securities, check the following [X].

ITEM 6.     OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
            Not applicable.

ITEM 7.     IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
            THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY.
            Not applicable.

ITEM 8.     IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP.
            See Item 4.



Schedule 13 G/A                                                    Page 11 of 12
CUSIP No. 483007704

ITEM 9.     NOTICE OF DISSOLUTION OF GROUP.
            Not applicable.

ITEM 10.    CERTIFICATIONS.  (if filing pursuant to Rule 13d-1(c))

            Each of the Reporting Persons hereby make the following
certification:

            By signing below each Reporting Person certifies that, to the best
of its knowledge and belief, the securities referred to above were not acquired
and are not held for the purpose of or with the effect of changing or
influencing the control of the issuer of the securities and were not acquired
and are not held in connection with or as a participant in any transaction
having that purpose or effect.

                                   SIGNATURES

      After reasonable inquiry and to the best of our knowledge and belief, the
undersigned certify that the information set forth in this statement is true,
complete and correct.

DATED:  February 14, 2008             /s/ Daniel S. Och
                                      -----------------------------------
                                      OZ MANAGEMENT LP
                                      By Och-Ziff Holding Corporation
                                      its general partner;
                                      By Daniel S. Och
                                      Chief Executive Officer


                                      /s/ Daniel S. Och
                                      -----------------------------------
                                      Och-Ziff Holding Corporation
                                      By Daniel S. Och
                                      Chief Executive Officer


                                      /s/ Daniel S. Och
                                      -----------------------------------
                                      Och-Ziff Capital Management Group LLC
                                      By Daniel S. Och
                                      Chief Executive Officer and
                                      Executive Managing Director


                                      /s/ Daniel S. Och
                                      -----------------------------------
                                      Daniel S. Och




Schedule 13 G/A                                                    Page 12 of 12



                                      /s/ Daniel S. Och
                                      -----------------------------------
                                      OZ MASTER FUND, LTD.
                                      By Daniel S. Och
                                      Director