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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UC RUSAL to increase its stake in Yaroslavsk GRK to 100%
UC RUSAL (SEHK:486, Euronext: RUSAL/RUAL, MICEX: RUALR, RTS: RUALR), the world's largest aluminium producer, is pleased to announce that it has entered into an agreement to acquire 50% of OOO "Yaroslavsk GRK" (Yaroslavsk Mining Company) from Russian Mining Company (RGRK). Following completion of...
Aluminium prices could reach $2,500 by END Q2- Rusal
Aluminium prices are expected to rise up to 10 percent from current values by the end of the second quarter, as output cuts take effect, a senior executive at Rusal, the world's largest producer of the metal, said on Wednesday. Prices could rise up to $2,400-$2,500 per tonne, Rusal executive Oleg...
Rusal ready to buy Bogoslovsk CHPP from IES at price no higher than actual cost
Russian aluminum company UC Rusal is prepared to buy the Bogoslovsk Combined Heat and Power Plant (CHPP), but only if IES (the plant's beneficiary) does not insist on a price higher than a level that covers costs. "If somebody decides that this is a good opportunity to sell it to us and get a...
UPDATE 1-RUSAL may cut aluminium output in next 18 months
Russia's UC RUSAL , the world's largest aluminium producer, said it could cut output by 6 percent in the next 18 months, confirming comments by its chief executive reported in the media on Friday. "It may be up to 6 percent, which we expect may happen in the next 18 months," Chief Executive Oleg...
Rothschild sues news group over Moscow claims
High quality global journalism requires investment. Please share this article with others using the link below, do not cut & paste the article. See our Ts&Cs and Copyright Policy for more detail. Email ftsales.support@ft.com to buy additional rights. Nathaniel Rothschild, the billionaire investor,...
Update: Rusal secures PXF covenant waivers
Lenders have signed a covenant waiver agreement with Russian aluminium producer Rusal on its multibillion pre-export financing. Trade Finance provides full details on the new agreement. Lenders have agreed to offer Russian aluminium producer Rusal the option of introducing a 12-month covenant...
Magnetic hydromixer at Krasnoyarsk smelter
UC Rusal has launched a magnetic hydrodynamic mixer at its Krasnoyarsk smelter’s casthouse to extend its alloy product range. The $2M magnetic hydrodynamic mixer will enable the Krasnoyarsk aluminium smelter (KrAZ) to produce 1000, 3000, 5000 and 8000 series alloys and to increase the production...
WINDALCO pensioners to lose health benefit, says NWU
PRESIDENT of the National Workers Union (NWU) Vincent Morrison has expressed outrage at what he said is a decision by aluminium giant UC Rusal to remove 900 pensioners of West Indies Alumina Company (WINDALCO) from a medical scheme for retirees. According to Morrison, the former employees have been...
RUSAL agrees covenant changes with creditors
UC RUSAL the world’s largest aluminium producer, is pleased to announce the completion of negotiations with its lenders regarding an option to introduce a covenant holiday in 2012-2013. RUSAL has agreed with its lenders to amend the current terms of the credit facilities to better reflect the...
United Company RUSAL : UC RUSAL installed unique equipment at Krasnoyarsk aluminium smelter to broaden range of alloys
UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, MICEX: RUALR, RTS: RUALR), the world's largest aluminium producer, announces the development and launch of a unique magnetic hydrodynamic mixer which will enable the Krasnoyarsk aluminium smelter's cast house to extend its alloy product range. The cost of...
Rusal Agrees to Pay Additional Margin on $4.75 Billion Loan
United Co. Rusal, the world’s largest aluminum producer, agreed to pay additional margins on a $4.75 billion loan after banks granted the company greater leeway on the terms of its debt. “The company will have the option to introduce a 12-month covenant holiday, starting from any quarter in 2012,...
Rusal Challenges Norilsk’s $4.5 Billion Buyback in Russian Court
United Co. Rusal (486), the world’s largest aluminum producer, filed a claim in a court in Russia’s Krasnoyarsk region challenging a $4.5 billion share buyback by OAO GMK Norilsk Nickel. The aluminum company wants the court to annul decisions by Norilsk’s board on Sept. 13 and Sept. 21, a statement...
UPDATE 2-RUSAL can withstand aluminium price fall to $1,900/t
Top world aluminium producer UC RUSAL, which has sought and won concessions from creditors as prices of the metal have fallen, can cope with further price declines, the company said on Wednesday. "As of today, even though it is difficult, RUSAL smelters can work with $1,900/tonne," the RUSAL press...
RusAl Smelters Profitable
United Company RusAl said its smelters can turn a profit should aluminum prices fall to $1,900 a ton, while as much as 45 percent of Chinese capacity may already be running at a loss. "It's difficult, but it can work," Vladislav Solovyov, first deputy chief executive, said in an interview published...
DJ Russia January-November 2011 Aluminum Exports +2.5% On Year
Russia exported 3.126 million metric tons of aluminum in January-November 2011, an increase of 2.5% compared with the corresponding period in 2010, the federal customs service reported Friday. The exported aluminum was worth $6.628 billion, compared with $5.481 billion in January-November 2010....
Rusal Says Aluminum Smelters Can Run Profitably at $1,900 a Ton
United Co. Rusal (486), the world’s largest aluminum producer, said its smelters can turn a profit should prices fall to $1,900 a metric ton, while as much as 45 percent of Chinese capacity may already be running at a loss. “Our smelters can work with $1,900 a ton,” Vladislav Soloviev, first deputy...
RUSAL bauxite company to stop vacation allowance – WPA
Workers at Bauxite Company of Guyana Incorporated, mainly owned by RUSAL, are to get thinner pay-packets whenever they are about to go on vacation because the company has decided to stop paying them vacation allowance. After numerous attempts throughout yesterday RUSAL officials could not be...
Inside The Aluminum Factory Where Russian Billionaire Oleg Deripaska Got His Start
Aluminum is the third most common chemical element on Earth after oxygen and silicon. Russian oligarch Oleg Deripaska built his fortune by creating the largest aluminum company in the world RUSAL, which accounts for 11% of aluminum production and 13% of alumina production worldwide. Deripaska and...
