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’s share price drops on news of Vekselberg lawsuit
The share price of one of Russia’s biggest companies, aluminum producer Rusal, dropped slightly on Friday following media reports that billionaire Viktor Vekselberg’s investment firm had launched a lawsuit against it. A source close to Vekselberg confirmed to the Prime Tass news agency on Friday...
Rusal loses aluminum plant in Ukraine
The government of Ukraine has seized the only alumina plant in the country from nominal owner Rusal the world's biggest aluminum producer but while Rusal is fighting to regain control of the smelter, the only impact this could have on the company's rivals is negative. The Zaporozhye Alumina and...
UPDATE 1-Workers strike at RUSAL alumina refinery in Guinea
Employees at UC RUSAL's Friguia alumina refinery in Guinea have gone on strike, paralysing operations there, a union member and two other employees told Reuters, but the company said production losses would be "insignificant". Kabinet Barry, a spokesman for the worker's union, said their demands...
Rusal Would Study Norilsk Sale at Right Price, New Chairman Says
United Co. Rusal (486)’s Chairman Barry Cheung, whose predecessor quit citing a “deep crisis” at the company, said the world’s biggest aluminum producer would study selling its stake in OAO GMK Norilsk Nickel at the right price. The departure of the billionaire former Chairman Victor Vekselberg,...
Orbit to ask Aluminae Office review and decision to lift March 2 Cease-trade order
Aluminae Inc. orbit., Developing Gaspé area aluminous clays for aluminum smelting alumina Into, Says It Will ask the Office review and decision to lift icts March 2 Cease-trade order. Said orbit year by the independent audit approuvé AMF HAS Confirmed That key shares of a company scoping study...
Shareholder dispute resolution not my job - RUSAL chairman
The newly appointed chairman of Russia's UC RUSAL, Barry Cheung, said it was not for him to broker a settlement between the aluminium giant's different shareholder factions. Cheung, an independent director of the company and head of the Hong Kong Mercantile Exchange, was elected last month to...
Rusal loses aluminum plant but competitors should not rejoice
The government of Ukraine has seized the only alumina plant in the country from nominal owner Rusal -- the world's biggest aluminum producer -- but while Rusal is fighting to regain control of the smelter, the only impact this could have on the company's rivals is negative. The Zaporozhye Alumina...
Rusal deputy CEO sees China moving into aluminium deficit in 2015
UC Rusal, the world’s largest aluminium producer, said it expects China’s aluminium industry to move into a deficit in the next couple of years as the country begins to transfer industry to the western provinces. China would try to solve one of its key problems, high power costs, not by cutting...
Bauxite company(BCGI) moves to court to stop arbitration
The Bauxite Company of Guyana Incorporated (BCGI)-majority owned by Russian Aluminium (RUSAL)- has moved to the High Court and secured a temporary stay of arbitration proceedings ordered by government into a dispute between the company and the Guyana Bauxite and General Workers Union (GBGWU). When...
Russian billionaire Deripaska strikes partnership with Quebec miner
Russian billionaire Oleg Deripaska is renewing his interest in Canadian business, striking a deal with a junior Quebec miner that could represent a small taste of a larger appetite by the soft-spoken industrialist for assets in the province. Mr. Deripaska’s United Co. Rusal, the world’s largest...
UC RUSAL and Orbite Aluminae Sign Memorandum of Understanding
Orbite Aluminae Inc. ("Orbite" or the "Company") CA:ORT -3.46% announced today having entered into a Memorandum of Understanding ("MOU") with the world's largest aluminium producer UC RUSAL ("RUSAL") HK:486 -0.18% FR:RUSAL -2.09% FR:RUAL 0.00% (mcx:RUALR) pursuant to which the parties are going to...
Russia needs clean end to Norilsk battle
The most surprising aspect of the all-in wrestling match between Russia’s Vladimir Potanin and Oleg Deripaska for control of the world’s biggest nickel producer is that the Kremlin has not stepped in to sort it out. With its tangle of lawsuits, disputed share buybacks and opaque sales of shares to...
Deripaska ready to buy RUSAL's Norilsk stake: source
Russian tycoon Oleg Deripaska is ready to buy RUSAL's (0486.HK) 25 percent blocking stake in Norilsk Nickel (GMKN.MM) to resolve a shareholder dispute at the world's largest aluminium producer, a source close to the RUSAL board said on Monday. Deripaska's gambit seeks a way out of a row with...
Ukraine Court Rules Against Rusal in Zalk Aluminum Plant Dispute
Ukraine’s government won a court hearing as it seeks to regain control over the Zaporizhskyi aluminum smelter from Russian billionaire Oleg Deripaska’s United Co. Rusal. The Kiev Commercial Court ruled to overturn a sale agreement and return a 68.01 percent stake in the plant, known as Zalk, to...
UC RUSAL announces the development of new red mud recycling project
UC RUSAL announced that the development of a new red mud recycling prototype facility is included to the Russian Ministry of Education and Science's Russian Science and Technology Complex Priority Research and Development Areas 2007 to 2013 program. The Ministry will invest RUB 150 million for the...
RusAl increases investment in Bogoslov Aluminum Smelter by 67% to 400 mln rubles in 2011
UC RusAl increased total investment in the modernization and technical reequipping of the Bogoslov Aluminum Smelter (BAZ, Sverdlov Region) by 67% to 400 million rubles in 2011, the company said in a statement. The statement said that the funds went to developing alumina and electrolytic production....
World’s largest aluminum producer takes $1.4 billion writedown
RUSAL, the world’s top aluminium maker, took a $1.4 US billion hit in its 2011 financials on Monday on the value of its stake in Norilsk Nickel, whose fate is at the centre of a row between two Russian billionaire shareholders. The writedown, and a qualified opinion by RUSAL’s auditor on the...
RUSAL 2011 net dives 92 percent on Norilsk valuation
RUSAL, the world's top aluminum maker, posted a 92 percent drop in yearly net profit, hit by a write-down in the value of its stake in miner Norilsk Nickel as it grapples with a damaging row over its future between two Russian billionaires. Despite the profit plunge, RUSAL (0486.HK) (RUAL.PA) said...
