United Company RUSAL declared that it will not expand aluminum production till mid 2011 when it plans to start first capacities at Tayshet and Boguchany Aluminum Plants expecting the supply demand balance in the international market will recover. For full story, click here
United Co. Rusal, the Russian aluminum producer controlled by billionaire Oleg Deripaska, declared that it will cut alumina production at its Friguia plant in Guinea by “more than 50 percent” next month. For full story, click here
Russian aluminum producer United Co. Rusal declared that it doesn’t need to deepen output cuts if aluminum prices stay above $1,400 a metric ton, but said prices aren’t expected to recover significantly until 2011. For full story, click here
Russian aluminum giant Rusal declared that its primary aluminum output had dipped 7.2% year-on-year in January-March to 1 million metric tons. For full story, click here
United Company Rusal reported that aluminum prices were bottoming out and that a very crucial recovery was expected in 2011. For full story, click here
Rusal, the world’s largest aluminum producer declared that prices for the metal will surge next year as China’s economy grows and as Western governments use monetary policy and spending to stimulate demand. Mr Artem Volynets Moscow based Rusal’s director of corporate strategy said: I think we will emerge a very different company in two or [...]
Onexim Group, owned by Russian oligarch Mikhail Prokhorov, has increased its stake in United Co Rusal to 18.5% after turning $2 billion of the aluminium producer’s debt to his company into equity. For full story, click here
Russia’s heavily indebted aluminum producer, Rusal announced that it has won a temporary reprieve on its debt repayments, after foreign lenders agreed to grant it a two-month extension on US$7.4 billion in loans. The company officials stated: UC Rusal has signed a standstill agreement in relation to the restructuring of its debt to the international [...]
Unlisted United Company Rusal, the world’s leading miner of alumina and also the biggest aluminium producer, has reported a USD 7.4bn debt standstill, owing to foreign banks, and comprising just over half of Rusal’s total debt of USD 14bn. For full story, click here
United Company RUSAL will support the initiative of several governments to stabilize the aluminum industry. Mr Oleg Deripaska, GD of RUSAL, said: In fact no one in the world can produce aluminum for USD 1,000, because the sum of basic material costs, including energy and transportation, exceeds USD 1,600. Some 90% of aluminum producers will [...]
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