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RUSALRussian Aluminum Inc.
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The increase was primarily driven by 13.2% growth in primarily aluminium sales volume, which was partially offset by depreciation of Russian rouble against US dollar between the comparable periods; Adjusted EBITDA for the first six months of 2019 fell by 53.0% to USD528 million, compared to USD1,124 million for the same period in 2018, primarily driven by the effect of LME and quotation period4; In the first half of 2019 RUSAL reported net profit of USD558 million (-41.4% YoY) compared to USD952 million in the first half of 2018.
The access to rich bauxite deposits will enable RUSAL to meet growing production demands throughout the next 100 years.
The new line, part of a larger project, is being started two months after Rusal was removed from a US sanctions list.
The sanctions against Rusal are among the main short-term drivers for global aluminium prices with the company's absence from the market pushing prices towards USD3,000 a tonne.
Rusal, meanwhile, said it would overhaul its own board and management in hopes of persuading the US to lift the measures against the firm.
RUSAL is the only public company globally to initiate a major construction project to help fight the spread of Ebola.
Thus, TALCO claims that information campaign of RUSAL, which involved online media resources, is contrary to the requirements of confidentiality in arbitration proceedings and the existing bilateral agreements.
With the possible transaction, Rusal seeks to ensure cheaper power and thus cut production expenses at its Volgograd aluminium smelter, Solovyov told Interfax as reported by Kommersant.
Following the USD1.49bn transaction, Rusal continues to own a 27.8% stake in Norilsk, while Interros has 30.3%.