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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RUSAL records 84 percent drop in first-quarter net profit, may cut capacity
MOSCOW/HONG KONG, May 14 (Reuters) - Russia's UC RUSAL Plc , the world's biggest aluminium producer, posted an 84 percent drop in first-quarter net profit, potentially fuelling a shareholder conflict over the company's refusal to sell its stake in Norilsk Nickel. RUSAL's management, led by its...
Rusal Drops to Four-Month Low with a 5% Margin Decline
United Co. Rusal, the world’s largest aluminum producer, fell to a four-month low as Renaissance Capital forecast a 5 percent decline in margins from the previous quarter. Rusal lost 1.3 percent to 196.98 rubles by the end of trading in Moscow, the lowest level since Jan. 10. “The rising oil price...
Deripaska Does $1Bln Metal Deal With China
Oleg Deripaska's Basic Element said it had agreed a $1 billion cooperation deal with China's state-owned North Industries Corporation, or Norinco, that will include construction of a rolling mill in Russia for metal production. The deal will also allow the world's largest aluminum producer RusAl,...
Russia's Basic Element inks $1 billion cooperation deal with China's Norinco
Russian tycoon Oleg Deripaska's Basic Element said on Sunday it had agreed a $1 billion cooperation deal with China's state-owned North Industries Corporation (Norinco) that will include construction of a rolling mill in Russia for metal production. The deal will also allow the world's largest...
Rusal is Still Considering Shutting Smelters as Aluminum Falls
United Co. Rusal (486), the world’s largest aluminum producer, is still looking at the possibility of closing smelters as prices decline. “Decisions have not been made yet,” Vladislav Soloviev, Rusal’s first deputy chief executive officer, said today in the southern Chinese city of Shenzhen. “We’re...
DJ Rusal Aim To Triple Aluminum Sales To China Via Trading JV With Norinco
Russian aluminum producer United Co. Rusal PLC (0486.HK) hopes to triple its aluminum sales to China in the long run through a trading joint venture with China's state-owned China North Industries Corp., or Norinco, an executive said Thursday. Rusal's Head of International Sales, Steve Hodgson,...
China Aluminum Demand to Grow 10.5% Annually, Rusal Says
China’s aluminum consumption will grow at an annual rate of 10.5 percent to 27.5 million tons by 2015 amid continuous urbanization and investment in infrastructure and construction, said Rusal Marketing GmbH. Growth will slow from the 17.2 percent rate during 2005 and 2010, Chief Executive Officer...
Rusal's $43 Billion 7-Year Glencore Deal Feeds Investor Feud
United Co. Rusal, the world's biggest aluminum supplier, is locked in to selling $43 billion of the metal to Glencore International Plc over seven years in a contract that's fueling a feud among billionaire investors, four people familiar with the accord said. Glencore agreed to the deal in the...
Deripaska Sees 2012 Aluminum Price at $2,200-$2,400
United Co. Rusal Chief Executive Officer Oleg Deripaska expects aluminum prices to be in a range of $2,200 to $2,400 a ton this year. While the aluminum market is “very shaky,” high physical demand is pushing up premiums, Deripaska told reporters at a briefing in London today.
United Company RUSAL : Rusal CEO : A Quarter Of Global Aluminum Capacity Loss-Making
Russian aluminum producer United Co. Rusal PLC (0486.HK) said Friday that the aluminum market is still plagued by excess production capacity with a quarter of the global market operating at a loss. Chief Executive Oleg Deripaska told reporters in London he expects the aluminum price to hover around...
RUSAL to decide on cuts after Russia sets tariffs
UC RUSAL , the world's largest producer of aluminium, will decide on the scale of planned capacity cuts once Russia details tariff increases delayed by the country's elections, Chief Executive Oleg Deripaska said on Friday. Aluminium producers have been badly hit by soaring power and other costs,...
Rusal’s $43 Billion Seven-Year Glencore Deal Feeds Fued
United Co. Rusal (486), the world’s biggest aluminum supplier, is locked in to selling $43 billion of the metal to Glencore International Plc (GLEN) over seven years in a contract that’s fueling a feud among billionaire investors, four people familiar with the accord said. Glencore agreed to the...
Ukrainian Property Fund continues litigation with Rusal
Ukraine's State Property Fund and Prosecutor General are continuing litigation to renationalize a 68.01% stake in Zaporizhiya Aluminum Smelter (ZAlK), but believe it would make sense to sign a new contract with the stake's owner, Russian aluminum giant UC Rusal. ZAlK is the only major asset over...
Prime Minister urges bauxite workers to focus on the resurgence of bauxite mining operations
Prime Minister, Samuel Hinds has urged bauxite workers to avoid conflicts and capitalize on the resurgence of bauxite mining operations. He noted that jobs and good wages come from profitable companies. It is the prime minister’s view that the decisions taken by government in relation to the...
Aluminum Giants Caught in Court Battle
Rusal, the world's largest aluminum producer, confirmed that its shareholder, another aluminum giant SUAL Partners Ltd, filed a statement of claim with the London Court of International Arbitration last week, Rusal reports. SUAL Partners Ltd is owned by Russian billionaire Viktor Vekselberg and...
Aluminium buckles under weight of supply pressure
“I don’t like aluminium.” That may seem an unlikely statement from the world’s sixth-largest producer of the metal. But Marius Kloppers, chief executive of BHP Billiton, is putting his money where his mouth is. BHP will from now on run its aluminium division for cash, he announced in February. Mr...
Rusal tycoons clash in London court
Viktor Vekselberg, the Russian billionaire, has filed a suit in London over an agreement by United Company Rusal to grant a long-term sales contract to global commodities trader Glencore, ratcheting up a battle with rival shareholder, Oleg Deripaska. The move takes the clash between Mr Vekselberg...
SUAL sues its RUSAL partners to overturn contracts
SUAL Partners is suing Oleg Deripaska's En+ Group and Glencore International, fellow shareholders in the world's biggest aluminum producer United Company RusAl, to overturn trading contracts, according to three people with knowledge of the matter. SUAL, controlled by Viktor Vekselberg and Len...
