Russian aluminum producer UC RUSAL has settled a dispute over the Alscon plant with Nigeria, Bloomberg reported late on January 31, citing Nigeria’s Steel and Mining Minister Kayode Fayemi.
Nigeria will have a 20% stake in the plant and RUSAL will have 80%. The share of RUSAL in the operating company is 85%, according to information provided by RUSAL.
Alscon will resume operations in eight months under an agreement between the parties.
RUSAL acquired a controlling stake in Alscon in 2007. The plant has a capacity of 96,000 tons of aluminum a year; Alscon also has a port and a power plant running on gas. (Prime/Ukrainian metal)