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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Federal Govt Moves to Take over ALSCON from Russia’s Rusal
Following a Supreme Court judgment, which revoked the sale of the Aluminium Smelter Company of Nigeria (ALSCON) by the Bureau of Public Enterprises (BPE) to Rusal, a Russian company, the Federal Government said it has commenced the process of handing over the company to BFI Group. In December 2006,...
Russia's RUSAL wins Siberian court ruling against Norilsk
Russian aluminium group RUSAL has won a legal claim against Norilsk Nickel , the world's top nickel and palladium producer, which it partly owns, signalling that long-running tensions with its other owner may escalate. The dispute relates to the 2011 buyback of 7.7 percent of Norilsk's shares by...
Aluminium provides a cheaper substute for costly copper
Copper, enjoying much superiority over any other metal in electrical and thermal conductivity and also ductility, is today about four times as expensive as aluminium. But with China showing evidence of slowing growth for a seventh straight quarter, the three-month forward prices on the London Metal...
Orbit reports steady progress in the development of SGA plant
Orbite Aluminae is making significant progress in the development of a smelter-grade alumina (SGA) plant to process aluminous clay using its proprietary process at its Grande-Vallée property in Quebec. In September, Orbite was granted a 20-year mining lease for its Grande-Vallée deposit and...
'Warnig to head aluminium giant Rusal's Russian business
Warnig's promotion marks only the latest step up the ladder of major Russian business for the former Dresdner Bank Group member. The 57-year-old already serves as managing director of the Nord Stream AG's operator of Russia's new Baltic Sea natural gas pipeline to Germany that was unveiled last...
Russian billionaires Oleg Deripaska and Michael Cherney settle dispute over RUSAL stake
Russian billionaires Oleg Deripaska and Michael Cherney reached an 11th-hour settlement in a dispute over a billion dollar slice of aluminium giant RUSAL , shortly before they were due to give evidence in a drawn-out London court case. The case, which had been expected to run well into 2013, was...
RUSAL sees refinancing deal within 6 months
RUSAL, the world's largest aluminum producer, expects to reach a deal with lenders within six months to refinance part of an $11 billion debt burden and will agree new loan conditions by the end of 2012, before its covenant "holiday" expires. RUSAL's head of equity and strategic development, Oleg...
UC Rusal to expand partnership with China
United Company Rusal, the world's largest aluminum producer, plans to expand its long-term partnership with Chinese aluminum corporations, said Oleg Deripaska, CEO of UC Rusal, at the 27th International Aluminum Conference 2012, which was held from Sept 12 to 14 in Moscow. The price of metal is...
UC RUSAL to upgrade aluminium powder production
UC RUSAL, the world s largest aluminium producer, announces an increase in powder production due to the launch of unique equipment and the introduction of the new types of products. In the first half of 2012 the total volume of powder products, produced by UC RUSAL subsidiaries, has increased by...
Russian Firms Set to Invest in Indonesia
Russian companies UC Rusal, the world’s biggest aluminium producer, and Norilsk Nickel, a global mining and metallurgical company, plan to build smelters in Indonesia, a government minister says. “The commitments were delivered in a meeting between President Susilo Bambang Yudhoyono and CEOs of the...
Russal copnsiders Aluminum financing deals to be still profitable
Financing deals tying up aluminum inventories are still profitable as interest rates remain at historical lows, a status quo that is likely to last for some time, a senior executive at United Co. Rusal said Thursday. "The current positive forward curve, low interest rates and growing premiums...
Rusal Sees Russia’s Aluminum Demand Doubling within Seven Years
United Co. Rusal, a Moscow-based aluminum producer, said Russian demand for the metal may double within seven years as the car and construction industries drive consumption growth. Russia and countries in the Commonwealth of Independent States will consume about 900,000 metric tons of the light...
RUSAL invites China to invest in Siberia
Russia's RUSAL, the world's largest aluminium producer, wants Chinese companies to consider investment in Siberia and joining in bauxite exploration overseas, its deputy CEO said on Friday. "RUSAL proposes China consider Siberia as an alternative (to domestic projects)," Oleg Mukhamedshin, head of...
Aluminium biggies call for a change in LME warehouse rules
Two of the world’s largest aluminium producers have called for a shake-up of the London Metal Exchange’s warehousing rules, a move that could end a lucrative trading opportunity that has benefited banks and trading houses such as Goldman Sachs and Glencore. The call will put pressure on Hong Kong...
RUSAL expects global aluminium supply cuts in next 6-9 months
The main owner of Russia's RUSAL , the world's largest aluminium producer, said an overhang of aluminium should be reduced through production cuts and said stocks should be slashed to get rid of loss-making supplies. Oleg Deripaska, also the aluminium giant's CEO, said he expected global aluminium...
Rusal expects Aluminum Price to go as High as $2,300/Ton in 2012
United Co. Rusal expects the price of aluminum to rise to $2,200-$2,300 a ton before the end of the year, the company's Chief Financial Officer Evgeny Kornilov told Interfax Thursday. He said he hoped that the rise in prices in September is "the beginning of a reversal of the situation" in the...
Rusal sees aluminium premiums rising in next 18 months
Aluminium premiums will continue to rise in the next 18 months, First Deputy Chief Operating Officer of Rusal, the world's largest aluminium producer, said on Thursday. "There are different scenarios of market development, including a decline, but we do not expect this during the next 18 months....
Investment banks in the aluminium market surging the premiums to record high
The arrival of investment banks in the aluminium market has triggered a shake-up in the $100bn industry that is forcing producers from Alcoa to Rusal and consumers such as BMW and Coca-Cola to change the way they do business. The increasingly dominant role of banks including Goldman Sachs, JPMorgan...
