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RUSALRussian Aluminum Inc.
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The economic crisis has left Rusal billions of dollars in debt and it has been in complex talks with its creditor banks to restructure the debts.
The decision is an important step forward for both Alcoa and for RUSAL," said Alexander Bulygin, RUSAL's CEO.
As demand amongst consumers grows for more sustainable and environmentally friendly aluminium, RUSAL has seized on the opportunity to utilise its unique access to clean, renewable hydro power to provide a product with a much reduced carbon footprint.
Glencore said that, because of confidentiality obligations in the UC Rusal shareholder arrangements, the company does not intend to comment further in relation to the arbitration proceedings.
The interest was acquired by Rusal for about USD14bn in 2008.
Alexandra Bourikos experience and professionalism within the Company alongside her solid knowledge of the industry will allow RUSAL to deliver value growth for all shareholders.
88% following conversion of certain minority stakes in UC Rusal for stakes in EN+ Group PLC), representing EN+'s energy segment.
Zonoville Investments Limited, a consortium of investors led by Renova Group and Access Industries, has announced that it had reached an agreement with Onexim Group to purchase its 6% stake in the United company RUSAL Plc.
United Company Rusal is the world's second largest aluminium company by primary production output.
By increasing our in-house capacity for calcined coke production, Rusal will be able to gradually abandon the supplies from third parties and cut costs by $8 million a year," said Evgeny Nikitin, head of Rusal aluminum business.
Rusal acquired a 65% stake in Alpart in 2007 following the merger of the company's assets with the alumina assets of Glencore and acquired the remaining 35% in 2011.
RUSAL is the only public company globally to initiate a major construction project to help fight the spread of Ebola.