Russia: RUSAL IFRS net profit down in 2019

The net profit of Russian aluminum giant UC RUSAL fell by 44.5%, to $960 million in 2019, as calculated under International Financial Reporting Standards (IFRS), the company said in a statement on March 13. The adjusted net loss amounted to $270 million after an adjusted net profit of $856 million a year ago. Revenue fell…


Russia: En+ Group stake in RUSAL rises

The stake of multi-industry holding En+ Group in the Russian aluminum giant UC RUSAL has grown to 56.88% following the closure of an asset swap with Swiss trader Glencore, En+ Group said in a statement on February 3. “The company announces conclusion of the second stage of the agreement on a swap of securities with…

Russia: Rusal invests 2.6 billion rubles in BAZ

In 2017-2019 Rusal invested some 2.6 billion rubles in modernization of Bogoslovsky Aluminum Works and Bogoslovskaya Thermoelectric Plant. In particular, the company has finished the project to modernize alumina manufacture, resulting in the output increase by 55 thousand tons with a considerable drop in prime cost. The thermoelectric plant sees its main machinery repaired. (Ukrainian…

Russia: Rusal to suspend silicon manufacture

Rusal Kremniy-Ural intends to suspend the operation because of the unprofitability. “Under the stable trend of global silicon prices decrease, its manufacture in Russia becomes very unprofitable. That is why from December 1 we will suspend the manufacture of the silicon in the Urals until the prices are stabilized”, a Rusal representative noted. At present…