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12 APRIL 2022 AL CIRCLE

Rusal opposes Rio Tinto’s arrangements in taking control of Queensland Alumina refinery

EDITED BY : RUPANKAR MAJUMDER 2MINS READ

The world leader in the production of low-carbon aluminium, Rusal has opposed arrangements that permit Rio Tinto to take sole control of the joint venture refinery, the Queensland Alumina Ltd (QAL).

Rusal opposes Rio Tinto’s arrangements in taking control of Queensland Alumina

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The global metal and mining giant’s shift functionally slits Rusal’s ingress to production and management at the alumina refinery under a ban implemented by the Australian Govt. against exporting alumina and bauxite to Russia.

The Government of Australia imposed the ban in March 2022 as part of its sanctions drive against Russia over its standoff with Ukraine.

A spokesperson from Rusal stated concerning operations of the Queensland Alumina refinery (QAL) and Australian autonomous sanctions said, “Rusal disagrees that the operations of its subsidiary, Alumina & Bauxite Company Ltd (ABC), do not presently comply with the Australian Government’s sanctions and disagrees with the decision made by QAL management that ‘step-in arrangements’ under the joint venture terms have been triggered or that they are necessary.”

“Discussions with QAL and Rio Tinto are continuing about the intent of the Australian Government’s sanctions and ABC’s ongoing involvement in the operations of the Gladstone refinery joint venture”, the spokesperson added.

“Our commitment to the investment in the Gladstone alumina refinery remains and we fully support Queensland Alumina Limited’s (QAL) objective of maintaining 100% production capacity at the Gladstone alumina refinery while issues in respect to the operation of the Australian Government’s sanctions are resolved.”

“Rusal anticipates a successful resolution of the discussions with QAL and Rio Tinto and ABC resuming its participation in the operations of the Gladstone refinery.”

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However, Australia had also imposed sanctions on Russian billionaire and former President of Rusal, Oleg Deripaska, who holds a stake in QAL.

The Anglo-Australian multinational company commented, “Rio Tinto has taken on 100% of the capacity and governance of Queensland Alumina Limited until further notice.”


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EDITED BY : RUPANKAR MAJUMDER 2MINS READ

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