The Onexim Group of Mikhail Prokhorov has left the ranks of Rusal shareholders, according to the company statement on the Hong Kong stock exchange. On February 16 Onexim’s share in Rusal decreased from 6% to 0%. At the same time the share of Zonoville Investments Limited increased to 26.5% from 20.5%. Onexim, which owned 17%…
Zonoville Investments Limited, a consortium comprising multi-industry holding Renova Group of the businessman Viktor Vekselberg and Access Industries of Leonard Blavatnik, intends to acquire a 6% stake in Russian aluminum giant UC RUSAL from Onexim Group of tycoon Mikhail Prokhorov. After the deal in closed, Zonoville and its associate Sual Partners Limited will jointly control…
Russian tycoon Oleg Deripaska plans to resign from the president positions at aluminum giant UC RUSAL and multi-industry holding En+ Group. Deripaska will remain a non-executive director at boards of directors of the companies. Current CEO of En+ Maxim Sokov will become the president of the holding, while RUSAL CEO Vladislav Solovyov will become the…
Sayanogorsk and Khakassk Aluminum Works of Rusal in 2017 produced 824 thousand tons of aluminum. Aluminum alloys output grew by 12% YoY, to 474 thousand tons. The increase in output was the result of a complex modernization work. “Aluminum alloys are products with high added value, thus the increase of their output is one of…
RUSAL intends to complete the development of a feasibility study in 2018 for the construction of a scandium oxide production unit at one of its Russian operations. Such a development adds to the company completing another series of pilot-scale tests in 2017 to recover scandium oxide from red mud on its new unit constructed at…
In 2017 Rusal produced 3.707 million tons of aluminum, up by 0.6% YoY. In Q4 2017 output grew by 1.4% QoQ, to 944 thousand tons. Aluminum sales in 12 months increased by 3.6%, to 3.955 million tons, and in Q4 2017 by 3.3% QoQ, to 1 million tons. Average sale price was $2105 per ton,…
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…
Russian aluminum producer RUSAL plans to spend more than 2.6 billion rubles to upgrade the Sayanogorsk aluminum plant in 2018, the company said in a statement. The bulk of investment will be spent on upgrade of the electrolytic reduction, casting and electrode production. The company will upgrade an automatic management system to boost efficiency of…
