Russian metals producers UC RUSAL and Norilsk Nickel have abandoned an idea of a merger, key owner of Norilsk Nickel Vladimir Potanin said on November 29. “We have agreed with Oleg Deripaska, president and key beneficiary of RUSAL, that Norilsk Nickel and RUSAL are different companies and no synergy is visible. This is why they…
In January-September the net profit of Rusal according to the International standards increased by 46.4% YoY, to $782 million. Corrected net profit increased 2.9-fold, to $727 million, EBITDA – by 42,4%, to $1.534 billion, revenue – by 21.3%, to $7.224 billion. The company net debt as of September 30 was $7.592 billion as opposed to…
UC RUSAL will be supplying approximately 510 tons of aluminum to be used in the production of aluminum tram interiors. As part of the project, UC RUSAL will provide aluminum for a total of 300 tram interiors. This is the world’s largest contract to purchase trams for a single city. The field of urban transport…
RUSAL announces the launch of its bespoke new low-carbon aluminum brand, ALLOW, which features a significantly lower carbon footprint – specific volume of greenhouse gas emissions – as compared to the industry average. As demand amongst consumers grows for more sustainable and environmentally friendly aluminum, RUSAL has seized on the opportunity to utilize its unique…
Fitch has increased the Rusal long-term default rating from BB- to B+, with stable forecast. The short-term rating has been confirmed on B level. Rusal Bratsk long-term rating has been increased from BB- to B+ stable. (Ukrainian metal)
Production of Russian aluminum giant UC RUSAL rose by 1.1% QoQ, to 931,000 tons in July-September. In January–September, the company’s aluminum output rose by 0.3% YoY, to 2.763 million tons, it said. Aluminum sales fell by 3.4% QoQ, to 968,000 million tons in July-September, with the average price rising by 2.1%, to $2,124 per ton.…
In 2018 the Komi Republic intends to mine 4.5 million tons of bauxite ore, up 1.4-fold YoY. “Modernization of the Sredne-Timanskiy mine and the switch to the neighboring Verkhne-Schugorskoye deposits will allow us to increase output to 4.5-4.7 million tons and keep it on this level for some 30 years”, the deputy chairman of the…
Victor Vekselberg and Mikhail Prokhorov received a total of 2.46 billion Hong Kong dollars ($315 million) from the sale of some 3% of Rusal shares. 456 million shares were placed at 5.4 HKD, with a 7.5% discount. There were 70 offers, with top 10 investors acquiring over 60% of shares. Of the volume sold Vekselberg…