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UC Rusal Announces Full Year Production Results for 2011
Edited by : AL CIRCLE
2 min read
UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, MICEX-RTS: RUALR), the world's largest aluminium producer, announces its key production data for 2011.
Key highlights:
-- Total aluminium output amounted to 4,123 thousand tonnes in 2011, an increase of 1% as compared to that of 2010.
-- Alumina output totalled 8,154 thousand tonnes in 2011, an increase of 4% as compared to that of 2010.
-- Bauxite production totalled 13,473 thousand tonnes in 2011, an increase of 14% as compared to that of 2010.
Commenting on the full year production results, Oleg Deripaska, CEO of RUSAL said:
"The dynamic growth of the world economy in the first half of 2011 slowed down significantly by the end of the year, impacting the situation in aluminium industry. The continued fears over the euro zone debt crisis and potential of a hard landing for the Chinese economy pushed aluminium prices lower despite the stable physical demand, bringing a large share of global production capacity below breakeven point.
"In such environment, RUSAL has continued to keep cost control as the cornerstone of its operations. The Company also continued to raise its output of value-added products by, amongst other things, modernising casting facilities at its smelters.
"The fundamental drivers of aluminium demand are expected to be stable in mid to long-term. The Company views the current volatility as an opportunity to focus on the development of the most technologically advanced and environmentally-friendly capacities, strengthening RUSAL's position as a world's most efficient aluminium producer."
Key operating data Three months ended Year ended Change ('000 tonnes) 31 December 31 December year-on-year unless indicated 2011 2010 2011 2010 (%) Aluminium 1,060 1,050 4,123 4,083 1% Alumina 2,082 2,082 8,154 7,840 4% Bauxite 3,288 3,101 13,473 11,798 14% Nepheline 1,057 1,171 4,608 4,854 (5%) Aluminium foil and packaging products 23 21 81 81 - ]]> Market review
Key highlights:
-- Total aluminium output amounted to 4,123 thousand tonnes in 2011, an increase of 1% as compared to that of 2010.
-- Alumina output totalled 8,154 thousand tonnes in 2011, an increase of 4% as compared to that of 2010.
-- Bauxite production totalled 13,473 thousand tonnes in 2011, an increase of 14% as compared to that of 2010.
Commenting on the full year production results, Oleg Deripaska, CEO of RUSAL said:
"The dynamic growth of the world economy in the first half of 2011 slowed down significantly by the end of the year, impacting the situation in aluminium industry. The continued fears over the euro zone debt crisis and potential of a hard landing for the Chinese economy pushed aluminium prices lower despite the stable physical demand, bringing a large share of global production capacity below breakeven point.
"In such environment, RUSAL has continued to keep cost control as the cornerstone of its operations. The Company also continued to raise its output of value-added products by, amongst other things, modernising casting facilities at its smelters.
"The fundamental drivers of aluminium demand are expected to be stable in mid to long-term. The Company views the current volatility as an opportunity to focus on the development of the most technologically advanced and environmentally-friendly capacities, strengthening RUSAL's position as a world's most efficient aluminium producer."
Key operating data Three months ended Year ended Change ('000 tonnes) 31 December 31 December year-on-year unless indicated 2011 2010 2011 2010 (%) Aluminium 1,060 1,050 4,123 4,083 1% Alumina 2,082 2,082 8,154 7,840 4% Bauxite 3,288 3,101 13,473 11,798 14% Nepheline 1,057 1,171 4,608 4,854 (5%) Aluminium foil and packaging products 23 21 81 81 - ]]> Market review
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