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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$1.2bn refinery secured until 2030
THE future of the $1.2 billion (€873m) alumina refinery at Aughinish Alumina has been secured until 2030 at least, with the company commissioning a 195-acre development that has the capacity to hold over 17 million tonnes of bauxite residue or "red mud". The owners of Europe’s largest alumina...
China bank to invest $1.43 bln in Russian smelter-VEB
Russian state bank VEB will sign a deal with China Development Bank (CDB) under which CDB will provide $1.43 billion for building the first stage of UC RUSAL's 750,000-tonne Taishet aluminium smelter, VEB head Vladimir Dmitriev said. The deal, to be signed on Tuesday during a visit by Prime...
Government fixing IMF hitch
Prime Minister Bruce Golding is reporting that the Jamaica Government is now closer to divesting its shares in Clarendon Alumina Production.(CAP) The divestment is a key commitment the Jamaica Government made in the Stand-by agreement with the International Monetary Fund (IMF). Aluminium Giant UC...
Rusal Deputy CEO: Aluminum Prices Will Bounce Back By Year-end
Prices for aluminum will bounce back from the current level to between $2,400 and $2,500 a metric ton by the end of the year, deputy head of Russia's aluminum giant United Co. Rusal (0486.HK) said Friday. Speaking to journalists on the sidelines of an investment conference Oleg Mukhamedshin, equity...
Ukraine Jan-Aug Alumina Exports Up 8.9% On Year At 1.024 Million Tons
Ukraine exported 1.024 million metric tons of alumina in January to August, 8.9% more than in the corresponding period in 2010, the government reported Thursday. The exported alumina was worth $331.49 million. Alumina exports in August totaled 132,000 tons, 2.2% less than in July this year and...
Update-Protest ends at RUSAL rail line in Guinea
A railway line used to ship alumina from RUSAL's giant Friguia refinery in Guinea has reopened after the end of a three-day protest by former workers over back pay, a RUSAL source told Reuters on Thursday. "They have been given assurances that the money transfer was already initiated by RUSAL into...
Rusal Signs $4.75 Billion Loan, Was Seeking More
Russian aluminum giant United Co. Rusal (0486.HK) Thursday said it has signed a loan agreement of up to $4.75 billion with 13 international banks, but according to a document seen by Dow Jones Newswires, the company was asking for more. According to the document, after agreeing with the banks on...
Mineral production rises in Guinea
Bauxite or aluminium ore production in Guinea the world's top supplier rose 5.2% year-on-year during the first half of 2011 to 9.7Mt, according to a report released in the capital this week. Guinea's economy relies heavily on its mining sector, and its resource riches have drawn billions of dollars...
UPDATE - Ex-workers Block RUSAL Alumina Exports in Guinea
Former workers at RUSAL's alumina refinery in Guinea have blocked a railway line from the plant in a protest over back payments, a company source and a spokesman for the former workers told Reuters on Monday. It was the second time this month that the former workers blocked the railway line from...
Carbon tax puts alumina plant at risk, warns Rusal
THE world's largest aluminium producer has warned that soaring coal, gas and electricity prices are seriously undermining the competitiveness of operations in Queensland's booming Gladstone region and that the carbon tax will aggravate the situation. Russian aluminium giant Rusal, which has a 20...
Guyana opposition warns foreign bauxite firms
Opposition politicians in Guyana threatened to kick out two bauxite mining companies from Russia and China if they flout labor laws. Alliance For Change, the country's second largest opposition party, on Sunday told residents of the eastern bauxite mining town of Linden that Russia's UC Rusal and...
Rusal Says Iran Option for Expansion, No Talks on Building Plant
United Co. Rusal, the world’s biggest aluminum maker, isn’t holding talks on building a plant in Iran, while saying the Persian Gulf country is a possible opportunity as it expands in developing markets. “Iran is one of numerous options for examination,” the aluminum producer’s Moscow-based press...
Kirkvine reopening date in doubt
UC Rusal's country manager for Jamaica, Igor Dorofeev, remained doubtful yesterday about the Government's projection for a reopening of the Windalco Kirkvine alumina plant next month. Pressed by journalists to give his company's timeline on reopening of the Manchester plant, Dorofeev said: "I...
Norsk Hydro sells stake in alumina refinery
Norwegian aluminium producer Norsk Hydro would sell its 35% stake in a Jamaican alumina refinery partnership Alpart to Russian peer UC Rusal for NOK 250 million. Hydro said UC Rusal, the world top aluminium producer will own all the shares in Alpart when the transaction is completed in October....
Rusal To Increase Its Stake In Jamaica's Alpart To 100%
Russian aluminum producer United Co. Rusal said Friday it has agreed to buy a 35% stake in Alumina Partners of Jamaica, or Alpart, from Norsk Hydro ASA thus securing 100% control of the alumina producer. Rusal said it paid $46 million for the stake. Rusal acquired a 65% stake in Alpart in 2007...
Rusal expects substantial jump in China sales
China's constraints on electricity supplies will help greatly boost United Company Rusal PLC's sales to the country, said a senior company official. "We expect aluminum exports to China will start to increase substantially next year," said Oleg Mukhamedshin, deputy CEO. The gap between demand and...
Rusal Sees $120 Million Savings in Debt Costs After Refinancing
United Co. Rusal expects to save about $120 million in interest payments after completing debt refinancing talks this month, Deputy Chief Executive Officer Oleg Mukhamedshin said. Rusal, the world’s biggest aluminum maker, is “on track” to complete debt refinancing with all its lenders by the end...
RUSAL to launch Boguchansky, Taishet smelters in 2013
Russian aluminum giant UC RUSAL plans to launch production at the Boguchansky and Taishet aluminum smelters in 2013, the press office of the Baikal economic forum said Thursday citing Artyom Volynets, CEO of En+ Group, which is a major shareholder of RUSAL. After the launch of the plants, RUSAL’s...
