RUSAL seeks Kremlin aid four bauxite and alumina plants face mothballing risk
Leading Russian aluminium producer RUSAL is considering mothballing four alumina and bauxite facilities as the company faces combined annual losses of around USD 800 million. The move hints at the growing pressure on the economics of domestic raw-material production. RUSAL is also estimating losses...
RUSAL train derailment in Guinea halts Friguia alumina exports
Alumina exports from RUSAL’s Friguia refinery in Guinea have been halted after a train carrying the material derailed over the weekend, disrupting rail access to the plant and forcing production to slow, three sources told Reuters. The train, operated by Russian aluminium producer RUSAL RUAL.MM,...
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Base metal report recommends sell for aluminium
Nirmal Bang has come out with its fundamental outlook on base metals. The research firm do not expect any major rise in the prices of metals on account of weak physical demand and higher supplies. Aluminium in particular can be sold on rallies, says Nirmal Bang. Industrial metals prices rose,...
Rusal may halt 350,000 tons of output to recover aluminum price
United Co. Rusal, the world’s largest aluminum producer, may reduce output by as much as 8.4 percent this year to allow prices to recover. The company will idle 350,000 metric tons of capacity at five of its plants with high production costs until aluminum rises to $2,400 a ton, Oleg Deripaska,...
Rusal says aluminum premiums to stay high as LME tackles backlog
United Co. Rusal, the world’s biggest aluminum producer, said elevated premiums are supported by demand and financing deals as the London Metal Exchange tries to ease backlogs in its warehouses that drew complaints from users including MillerCoors LLC. The LME, which oversees more than 700...
Workers raise its voice against vandalisation of ALSCON
Workers of the Aluminium Smelter Company of Nigeria (ALSCON) have accused its Russian managers, UC RUSAL, of plotting to cripple operations in the factory by dismantling equipment in the production lines and “siphoning of raw materials”. The workers, who were represented by their trade union...
Rusal subsidiary's claim on wholesale energy market rules dismissed
The Supreme Commercial Court has rejected an appeal by Rusal's Krasnoyarsk aluminum smelter on the rules of the wholesale energy market, a court representative told RAPSI on Friday. The applicant requested the court to invalidate two paragraphs of the wholesale energy market regulations. The...
Aluminum industry seeks solutions to overcapacity quandary
As with many industrial market trends today, the overcapacity problem stems from China’s rapid economic expansion. According to London-based research firm CRU, China now has an installed aluminum production capacity of 28 million tons and is producing at a rate of 24 million tons per year. The...
Russian billionaire gives away $3m bonus to staff
Russian billionaire Oleg Deripaska has declined a bonus for 2012 and will use the money to buy shares for employees. Aluminium company Rusal says the $3m (£2m) bonus will be used to reward around 120 employees with shares. Mr Deripaska, who is worth $8.5bn (£5.5m) according to Forbes, has been...
Brady wins contract with Rusal
Rusal has contracted Brady Corporation, the largest European-headquartered provider of trading and risk management software to the global commodity and energy markets, to manage its hedging book and risk management requirements for its aluminium sales. Rusal's requirement was to source a solution...
Jamaican government official casts doubt on Windalco reopening
A senior mining ministry official has spurred doubts on prospects for the reopening of the stalled Windalco Kirkvine alumina plant in Manchester, saying it is being scrapped for parts. Oral Rainford, a principal director in the Ministry of Science, Technology, Energy, and Mining, told an audience...
Outotec to install EUR5.1 million processing line at Rusal plant
German company Outotec is in the process of constructing a EUR5.1 million state-of-the-art electrolyte processing line at UC Rusal’s BEMO smelter in Tayozhny in the Krasnoyarsk region of Russia. The equipment automates the process in which the electrolyte is crushed to the required fraction of any...
RUSAL-Omen JV to produce automotive components
Global aluminium major RUSAL and Israeli company Omen High Pressure Die Casting, which specializes in the production of automotive components from non-ferrous metals, announce the signing of a memorandum outlining details of the creation of a joint venture to produce automotive components. The JV,...
Rusal's monopoly deemed worthless
Russia’s aluminium monopoly Rusal, with its hidden Kremlin shareholders, has slipped below the worthlessness level on the Hong Kong Exchange – that is, its market cap is now less than the value of the 28% shareholding it owns in Russia’s largest mining company, Norilsk Nickel. The aluminium assets...
Aughinish Alumina pays €1,952 corporation tax on sales of more than €191 million
Billionaire Russian oligarch Oleg Deripaska’s firm Aughinish Alumina paid just €1,952 in corporation tax over the past five years, despite generating sales of more than €191 million, reports the Sunday Independent. Deripaska, whose wealth is valued at $8.8 billion (€6.6 billion) by Forbes magazine,...
Russia’s aluminium giant to invest $2 billion in refinery
Russia-based United Company RUSAL, the world’s biggest aluminium producer, plans to build a bauxite refinery in Indonesia to produce alumina, in order to benefit from the government’s ban on the export of unprocessed ores by 2014. Top executives from the company expressed their interest during a...
Rusal considers shelving smelter capacity
Rusal is considering shutting down 81,000 MT capacity at its Nadvoitsy aluminum smelter. Rusal previously announced that it would borrow EUR 150 million from VEB to upgrade the facility to produce higher value-added products. Part of the loans was used to acquire Ondskaya Hydroelectric to ensure...
Rusal issues warning on aluminum imports
Rusal has warned that state support will be needed to boost domestic aluminum output, as foreign producers are on course to increase their share of Russia’s market from 39 to 47 percent by 2017. Sergei Belsky, Rusal’s Sales Director for Russia and the CIS, said in a conference report that Russian...
Rusal sees room for more cuts as aluminum price struggles
Aluminum giant Rusal could consider deeper capacity cuts if prices for the metal continue to languish around levels last seen in the aftermath of the financial crisis, a senior executive said. The aluminum industry is struggling with excess capacity, rising costs and weak prices. RusAl estimates a...
ALSCON launches 2013 scholarship programme
The Aluminium Smelting Company of Nigeria (ALSCON) has announced the launch of its annual Scholarship Programme aimed at supporting local communities. Located in Ikot Abasi, in Akwa Ibom state, ALSCON is part of the United Company RUSAL a leading, global aluminium producer, while assistance in the...
