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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ARMENAL’s output makes 13,110 tons in first half of 2011
The output of ARMENAL plant, the only producer of aluminium foil in the Caucasus and Central Asia, totalled 13,110 tons in the first half of 2011, a 8.2% increase as compared with the same period last year. Company’s volume of exports made 12,602 tons, a 4% increase as compared with Jan.-June 2010....
Rusal Seeks to Complete Debt Refinancing Talks in Four Weeks
United Co. Rusal expects to complete debt refinancing talks in about four weeks, allowing the world's largest aluminum maker to start paying dividends for the first time since it listed, said Deputy Chief Executive Officer Oleg Mukhamedshin. "The company is eager to refinance all of its debt by the...
Rusal Says Unaware of Partners Selling Shares
Russia's United Company RUSAL Plc , the world's top aluminium producer, said on Monday it is unaware of partners selling Rusal shares. UC Rusal has not yet considered Norilsk's share buyback offer, a senior company executive told a news conference after its earnings.
RUSAL Q2 net profit down 70 pct on yr
Russia's United Company RUSAL Plc , the world's top aluminium producer, on Monday reported a sharper than expected 70 percent drop in net profit in the second quarter on non-cash items as cost inflation offset higher prices and output. RUSAL , which competes with U.S. aluminium maker Alcoa Inc ,...
Aluminium plant returns to profit
THE largest alumina refinery in Europe, RUSAL Aughinish, last year returned to profit after revenues almost doubled to $496.9 million (€344.9m). Accounts filed to the Companies’ Office by Limerick Refinery Alumina Ltd and subsidiaries, show the company recorded a pre-tax profit of $24.5m in the 12...
Two RUSAL partners seek to sell out-paper
Two partners in the world's top aluminium producer, UC RUSAL , want to sell their stake to a third tycoon, Alisher Usmanov, owner of an iron ore miner and shareholder in Norilsk Nickel , Vedomosti reported on Friday. Viktor Vekselberg and Len Blavatnik, who merged their aluminium assets with RUSAL...
Norilsk Nickel Board Approves RUSAL Buyback Offer
Norilsk Nickel , the world's largest nickel and palladium producer, has approved an $8.75 billion offer to buy back its shares from Russia's RUSAL in a bid to resolve a bitter shareholder dispute. The $306 per share offer for a 15 percent stake, which represents a 20 percent premium to the weighted...
Rusal’s Kirkvine refinery restart delayed as alumina tags fall
The restart of United Co. Rusal’s idled Kirkvine alumina refinery has been postponed, with several market participants speculating that a restart is unlikely to happen this year due to an oversupply of alumina and falling prices.
RUSAL has no official offer on Norilsk share buyback plan
World's largest aluminium producer Russia's United Company RUSAL Plc said that no official offer has been made on Norilsk Nickel's plan to buy back 15% of its shares from RUSAL. RUSAL also said it was unaware of the reason behind sharp swings in its share price, which fell 9% on Monday to the...
Norilsk Nickel Offers to Acquire 15% Stake Held by Rusal for $8.75 Billion
OAO GMK Norilsk Nickel offered to buy back a 15 percent stake held by United Co. Rusal for $8.75 billion as billionaires Vladimir Potanin and Oleg Deripaska battle for control of the world’s largest nickel producer. The offer to 25 percent-shareholder Rusal amounts to $306 a share, a 20 percent...
Rusal to Boost Aluminum Output on Demand for Computers, Phones
United Co. Rusal, the world’s largest aluminum producer, plans to increase output of high- purity aluminum used in computers and mobile phones as demand rises in Asia and the U.S. Rusal’s Krasnoyarsk plant in Russia is targeting a 13 percent increase in output of the high-purity metal this year to...
UC RUSAL’s statement in connection with the approval of share buyback by the board of MMC Norilsk Nickel
UC RUSAL,the world’s largest aluminium producer and owner of a 25% stake in MMC Norilsk Nickel, considers that today’s decision by the Board of Directors of Norilsk Nickel to approve a share buyback is not aimed at meeting the interests of all the shareholders of the company, but exclusively those...
How $3.2b ALSCON was sold for $130m – BFI Group
Fresh facts have emerged on how government-owned Aluminium Smelting Company of Nigeria (ALSCON) Ikot Abasi, Akwa Ibom State, set up with $3.2 billion, was sold to a Russian firm, Russal, for a paltry $130 million. This was disclosed to the Senate Ad-hoc Committee probe panel led by Senator Ahmad...
RUSAL to issue $1 bln worth of non-convertible bonds
Russia's UC RUSAL , the world's largest aluminium producer, said on Wednesday that it had registered the issue of up to 30 billion roubles ($1.04 billion) worth of interest-bearing non-convertible bonds.
Siberia IDC continues to plead with KrAZ
The Arbitration Court of Krasnoyarsk region has appointed on September 1 meeting the claim IDC Siberia to the Krasnoyarsk Aluminum Plant to conclude a contract for electricity transmission. The preliminary hearing took place on August 10th 2011. Siberia IDC requires a court to KrAZ contract on the...
$4.6 billion loan revamp eases RUSAL debt load
Debt-laden UC RUSAL (0486.HK), the world's largest aluminum producer, has reached agreement with Russian state-run bank Sberbank (SBER03.MM) on easier terms for a $4.58 billion loan facility. RUSAL said the maturity of the debt, secured in September 2010 and due December 7 2013, would be extended...
Norilsk Nickel, RUSAL clash over share buyback
The board of Russian metals group Norilsk Nickel has approved a new share buyback and was swiftly criticised by aluminium group UC RUSAL for acting in the interest of long-time rival shareholder Interros. Norilsk said on Monday it has yet to decide the number of shares to be purchased and their...
Rusal Gets Reduced Rate, Extension on $4.6 Billion Sberbank Loan
OAO Sberbank, Russia’s largest lender, reduced the interest rate and extended the maturity on a $4.6 billion loan to United Co. Rusal, the world’s largest aluminum producer said. The interest rate was cut to the London interbank offered rate plus 4.5 percent annually, Rusal said in a statement...
