63-514: En+ Group plc is a green energy and metals company. It has a controlling stake in Rusal , one of the world's largest aluminum producers outside of China. EN+ was founded by Oleg Deripaska By using hydroelectricity to power its smelters, EN+ Group’s manufacturing process generates 80% less emissions than coal-burning manufacturers in China. The company has set ambitious goals for achieving net-zero emissions in
126-537: A 50/50 share joint venture with Israeli automotive component manufacturer Omen High Pressure Die Casting to produce automotive components. Resulting from massive overcapacity in the aluminium market due to China increasing its output of primary aluminium, global aluminium prices fell in the years 2007 to 2013, leading Rusal to report a loss of US$ 3.2bn in 2014. The company asked creditors to agree to delay payments on part of its US$ 10bn net debt pile. In August that year, national and international lenders agreed to allow
189-481: A carbon footprint of less than 8 tons of carbon dioxide per ton of aluminum produced. Rusal has targeted reducing Allow’s carbon footprint to a level of less than 2 tons of carbon dioxide per ton of aluminum. En+ Group operates generating assets with 19.6 GW of installed electricity capacity. As of 31 December 2016, hydro power plants accounted for 76.6% (15.1 GW) of the Group's installed electricity capacity, which makes
252-561: A commodities agent and broker at the Moscow Trade Stock Exchange (Moskovskaya Tovarnaya Birzha (MTB)) and then at the Russian Commodities and Raw Materials Exchange (Rossiyskaya Tovarno-Syryevaya Birzha (RTSB)). As a broker, Deripaska dealt in a wide range of commodities, including aluminium. His work also included trading with major Russian aluminium smelters. Between 1991 and 1994, companies set up by Mr. Deripaska with
315-453: A controlling stake of 48.13%, along with Onexim Group (13.7%) and SUAL (15,80%). 8.75% is owned by Amokenga Holdings, Toni Shterev owns 00.1% of the shares Rusal.a wholly owned subsidiary of Glencore. The remaining 13.37% account for the public float, and shareholding by the company management (0.25%). It was announced on 11 August that Onexim agreed to sell 7% of its Rusal stake to SUAL. In February, Onexim had already sold 3.3% to SUAL. Once
378-546: A joint venture with Indian firm Runaya Metsource for producing aluminum paste and powder, with commercial activities set to commence in 2018. In 2021, the company's revenue amounted to 596 billion rubles. In April 2022, Rusal America Corporation was sold to former executives Brian Hesse and Andrey Donets and subsequently renamed PerenniAL. In October 2023, Rusal acquired a 30% stake in China's Hebei Wenfeng New Materials (HWNM) for 1.91 billion yuan ($ 261.6 million). As of 2016, UC Rusal's biggest shareholders are En+ Group with
441-764: A licence to develop bauxite mines in Guyana and the Bauxite Company of Guyana was subsequently founded. From 2004 to 2006, RUSAL acquired several strategically important assets around the globe. In 2004, RUSAL acquired a 90% interest in the Boxitogorsk alumina refinery in Russia and increased its holding in the Nikolaev alumina refinery to 100%. In 2005, RUSAL bought a 50% stake in the Komi alumina project from SUAL and became its partner in
504-438: A majority of independent directors. In addition to Chairman Lord Barker, the board has four board seats appointed by Deripaska and eight independent directors: Christopher Burnham , Andrey Sharonov, Carl Hughes, Joan MacNaughton, Timur Valiev, Zhanna Fokina, Thurgood Marshall, Audrey Yanovsky, Vadim Geraskin, and Elena Nesvetaeva. Following Russia’s 2022 invasion of Ukraine, Barker resigned as chairman along with Joan MacNaughton,
567-529: A non-executive director. Christopher Bancroft Burnham was appointed chairman in March 2022 to replace Barker. In January 2021, En+ Group announced a significant emissions reduction target with plans to cut greenhouse gas (GHG) emissions by at least 35% by 2030. The effort also set a goal of achieving net zero GHG emissions by 2050. As part of this clean energy modernization effort, the company began replacing hydraulic units at its Bratsk hydropower plant. The work, which
630-580: A privatisation process a 77.5% equity interest in the Aluminium Smelter Company of Nigeria ( ALSCON ). The Group acquired a further 7.5% equity interest in ALSCON from MAN Ferrostaal AG in January 2008. In late March 2007, the merger between RUSAL, its domestic competitor SUAL, as well as the bauxite and alumina assets of Swiss commodities trading group Glencore , created UC RUSAL. The merger created
693-707: A state-owned investment company in Abu Dhabi, purchased a 2.6% stake in En+ Group from Polina Yumasheva, the former wife of Oleg Deripaska . In April 2018, the United States Treasury Department's Office of Foreign Assets Control (OFAC) included En+ Group among a list of 38 Russian entities being sanctioned in response to Russian interference in U.S. elections, violence in Ukraine, cybercrimes, and supplying Syria with weapons. Both EN+ Group and RUSAL were included on
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#1732869183470756-574: A strategic investment in Norilsk Nickel and a 50% interest in the BEMO Project (a joint venture between UC RUSAL and RusHydro comprising Boguchansk HPP and Boguchansk aluminium smelter ). In 2017 En+ Group's Metals segment produced 3,707 thousand tonnes of aluminium, 7,773 thousand tonnes of alumina and 11,645 thousand tonnes of bauxites . Rusal began producing a low-carbon aluminum brand called Allow in 2017. The material has been reported to have
819-546: A string of mergers and acquisitions, particularly that of Norilsk Nickel, UC Rusal had a high level of debt, which was exacerbated by the onset of the global financial crisis in 2008. In order to be able to retain its stake in Norilsk Nickel, and to avoid having to float the stake to foreign lenders, UC Rusal received a $ 4.5 billion loan from Russian state bank Vnesheconombank to repay debts to foreign creditors. As part of its debt consolidation efforts in 2009, UC Rusal reduced
882-536: Is a member of the Global Sustainable Electricity Partnership, a non-profit organisation whose members are the world's leading electricity companies, supplying energy to over 1.2 billion customers. In 2017, En+ Group produced 68.4TWh of electricity and 26.7mn Gcal of heat. In 2015 En+ Group commenced the operations of the Abakan solar power plant. Its installed capacity is 5.2 MW, which makes it
945-525: Is expected to be completed by 2026, will reduce the group’s greenhouse gas emissions. Responding to a report that 67 percent of consumers favored carbon-labelling of products, EN+ group chairman Lord Barker went on record suggesting that manufacturers of cans and containers made from green aluminum may respond by labeling the source of the raw material used to produce packaging for their products. EN+ Group subsidiary Rusal signed an agreement in September 2021 with
1008-489: The Angara and Yenisei river cascades. These plants provide sustainable, low carbon and low-cost power for Russian industrial facilities, including Metals segment's core aluminium smelters. The Group believes that it benefits from lower operating costs compared to other hydro power generation companies in part due to the geographic location, scale and efficient management of the power generating assets. En+ Group's Energy segment
1071-784: The Bratsk , Krasnoyarsk , Sayanogorsk , and Novokuznetsk aluminium smelters, the Achinsk and Boksitogorsk alumina refineries and the Russian National Aluminium and Magnesium Institute (VAMI) to 100% in November 2006, and in Sayanal in June 2007. In order to stay competitive, the VAMI and SibVAMI aluminium and magnesium research institutes became the backbone for engineering and technology centres involved in
1134-661: The Friguia bauxite and alumina complex and Bauxite of Kindia Company in Guinea to secure bauxite and alumina supply for its Russian smelters. In 2002, Rusal also set up the Engineering and Technology Center in Krasnoyarsk, which is now the foundation of the company's internal R&D projects. In 2003, Millhouse Capital sold its 50% stake in Rusal to Basic Element, which held the remaining half of
1197-620: The Khakas aluminium smelter in Russia, one of the most advanced aluminium production facilities in the world. RUSAL also acquired a 56.16% equity interest in the Sardinian alumina refinery, Eurallumina. In May 2006, RUSAL and RusHydro signed a co-operation agreement for the construction of the Boguchanskaya hydropower station (HPP) and the Boguchansky aluminium smelter. RUSAL increased ownership in
1260-551: The NYSE Euronext in Paris. August 2011 saw Rusal reach an agreement with Sberbank to extend the maturity of debts until 2016, thereby cancelling VEB's loan used to repay debts to lenders. In October 2011, UC Rusal announced that it had completed all debt refinancing of outstanding payments worth $ 11.4 billion. As a result, the company was freed from all investment and dividend payment restrictions, and announced new investments into
1323-659: The Ashinaga Foundation providing financial and educational support to children; the Yul Foundation supporting the learning process and psychological rehabilitation of pupils; and donations to the Ishinomori Mangattan Museum in Miyagi Prefecture for the city's reconstruction of cultural attractions. In 2012, Rusal donated 25 tonnes of medical supplies to Sierra Leone to control the outbreak of cholera in
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#17328691834701386-695: The BEMO 50/50 joint venture between UC RUSAL and RusHydro) began operations with a production capacity of 149 thousand tonnes. 2017 : En+ successfully lists on the London Stock Exchange , raising $ 1.5 billion from international investors, valuing the company at $ 8 billion. The IPO was largest Russian IPO globally since 2012 and the first IPO by a Russian company in London since 2014. 2021 : En+ Group’s Metals segment RUSAL announced its proposal to demerge its high carbon assets and to change its name to AL+. Mubadala ,
1449-629: The Barker restructuring plan. On July 21, 2018 US Treasury Secretary Steven Mnuchin said in an interview that the objective was not to put the company out of business, but to limit Oleg Deripaska. The US Treasury notified Congress about its intention to lift sanctions against En+ Group in December of 2018 following the corporate restructuring. In the announcement lifting the sanctions, Mnuchin said “These companies have committed to significantly diminish Deripaska’s ownership and sever his control,” and noted that
1512-619: The CEAC and the Government of Montenegro became increasingly sour, there was an ongoing debate within the country about the fate of the aluminum producer. The size of the company, number of employees, and its impact on the Montenegrin trade balance imply that efforts will be made by the Government to keep the company alive, although sustainable ownership and management arrangements are yet to be made given
1575-504: The Company the largest privately held hydro power generation company globally. As at 31 December 2016, the Group held an 8% share of the total installed electricity capacity in Russia. The Group's power assets are predominantly located in Siberia, where it has a 37.6% share of total installed electricity capacity in the region. The hydro power operations benefit from the abundant water resources of
1638-409: The Group increased its shareholding to 90.8%. 2005: purchase of Aluminium Plant Podgorica by subsidiary Salomon Enterprises Limited , which was later renamed Central European Aluminum Company (CEAC) 2007: Following the acquisitions of SUAL Group by En+ Group, which at the time was one of the ten largest aluminium producers globally, and select aluminium and alumina businesses from Glencore ,
1701-480: The Moscow Stock Exchange, Hong Kong Stock Exchange and European Stock Exchange. Since 25 September 2020, the company changed its place of registration from Jersey to Kaliningrad , Russia. In 2021 RUSAL announced a proposal to demerge its high carbon assets and change its name to AL+. UC Rusal's roots lie in the business activities of Russian businessman Oleg Deripaska , who entered the metals industry as
1764-801: The Sayanogorsk aluminium smelter, the Sayanal foil mill, a fabricating plant in Samara, Russia, and a minority interest in the Nikolaev alumina refinery in Ukraine. Gradual strategic acquisitions and growth projects eventually led to the creation of one of the world's largest aluminium and alumina producers. Rusal has historically opted to fully integrate its assets under centralized operational and management control. The company has achieved increased production and efficiency in most of its acquired facilities through production "creep" (improvements achieved through targeted improvements to key processes), as well as by undertaking key modernization and expansion projects. Rusal
1827-501: The Taishet Aluminum Smelter, its first low-carbon aluminum facility. The plant, located in Siberia, runs exclusively on hydropower and is expected to produce 428,000 metric tons of aluminum each year. In November 2018, Vladimir Kiryukhin was appointed as CEO of EN+ Group. Kiryukhin’s predecessor, Vyacheslav Solomin, was named as COO. In January 2019, a new slate of board members was created consisting of twelve directors with
1890-530: The UK’s Budweiser Brewing Group to produce five million ultra-low carbon beer cans. The cans will be 440ml in size and come from Rusal’s Krasnoyarsk plant in Siberia, which uses hydro-power as fuel. En+ Group signed an agreement in August 2021 with I-REC Services BV enabling the En+ Group to sell and redeem international renewable energy certificates ( I-RECs ). In the fall of 2021, EN+ participated in
1953-724: The United Nations Climate Change Conference (COP26). Greg Barker, then chairman of EN+, attended the event along with eight other members of the EN+ management team. En+ Group holds a 48.1% stake in RUSAL, a vertically-integrated aluminium producer. RUSAL accounted for approximately 6.2% of global aluminium output in 2017. En+ Group's Metals segment operates 10 aluminium smelters and 7 alumina refineries, with its core smelting operations located in Siberia . In addition, UC RUSAL holds
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2016-598: The United States imposed sanctions against Oleg Deripaska and his business enterprises, including Rusal, along with 23 other Russian nationals and entities in their control. According to The Washington Post , the Trump administration imposed those sanctions because of "Russia's 'malign activity.'" The United States Department of the Treasury issued a statement declaring that Deripaska was accused of illegal wiretapping, threatening
2079-456: The agreement in January of 2019, he acknowledged it wasn’t perfect. “I am not pretending that Deripaska is removed from the company altogether, but we have removed control." After sanctions were lifted for En+ Group, Deripaska remained on the OFAC list. All of Deripaska’s property and interests in property, including entities in which he holds a fifty percent or greater interest, remained blocked and he
2142-697: The backing of industrialist and entrepreneur Michael Cherney , started investing in the shares of Sayanogorsk Aluminum Smelter (SAZ), one of the newest and most modern aluminium plants built in Soviet times (1980–1985). In 1994, Mr. Deripaska was elected the General Director of SAZ. In 1997, the companies controlled by Deripaska underwent a general restructuring, leading to the creation of Sibirsky Aluminium to manage aluminium and alumina assets acquired by Deripaska's companies. By 2000, Sibirsky Aluminium managed, among other aluminium-related assets, majority interests in
2205-460: The companies would be subject to ongoing compliance and regulation.” Under the arrangement to lift U.S. sanctions, new independent directors would be appointed to the boards EN+ and Rusal and the companies agreed to not act in any manner that “directly or indirectly provides Deripaska with the ability to exercise a controlling influence over management or policies” of EN+ or Rusal.” Deripaska’s voting interests were reduced to 35%. When Barker announced
2268-729: The company acquired assets of another cathode plant in Taigu County of Shanxi Province, China, which have been integrated into the existing cathode plant in Lingshi. In 2006, RUSAL acquired assets of the state-owned Aroaima Mining Company in Guyana , acquired the remaining equity interest in the Friguia bauxite and alumina complex in Guinea , completed an extensive retrofit of the Armenal foil mill and commissioned
2331-525: The company announced a project in Greenup, Kentucky that would produce flat-rolled aluminum products for the US automotive industry. In 2017, UC Rusal publicly stated its goal to cover all the energy required to power its aluminium smelters via clean energy by 2020, particularly using hydropower. In 2017, the company's energy mix included 90% renewables. The announcement was in line with UC Rusal's 2015 pledge to support
2394-886: The company from the sanctions’ list by reducing Deripaska ’s shareholding interest and creating an independent board of directors. On April 27, the company completed a regulatory filing with the London Stock Exchange stating the Deripaska had agreed to leave the board and reduce his ownership interest to less than 50%. On May 1, 2018 the US Department of the Treasury loosened the sanctions to allow transactions necessary to divest or transfer debt, equity or other holdings in EN+ Group and United Company RUSAL PLC. The following month, four board members, Gulzhan Moldazhanova, Igor Makarov, Olga Mashkovskaya and Anton Vishnevskiy, resigned as part of
2457-616: The company." Department of the Treasury gave these clients until 23 October 2018 to comply with (wind down business) the Rusal sanctions. In May 2018, the company announced the resignation of CEO Alexandra Bouriko and seven board members in order to avoid U.S. sanctions against Oleg Deripaska. In January 2019, the U.S. lifted sanctions after Deripaska reduced his stake in the company to less than 50% and his voting rights to less than 35%. US Senate majority leader Mitch McConnell among others argued that this would maintain pressure on Deripaska without disrupting aluminum markets. In April 2019
2520-552: The company’s high and low carbon producing assets was part of a larger plan to reach net-zero carbon emissions by 2050. The net-zero plan, announced in January 2021, would reduce the company’s greenhouse gas emissions by 35% by 2030 and put EN+ in compliance with the Paris Agreement and the European Green Deal . Chief operating officer Vyacheslav Solomin leads the company’s Climate Change Taskforce. In late 2021, RUSAL opened
2583-715: The costs of its operations by 25%. In December 2009, a final agreement between the company and 72 Russian and international lenders to refinance $ 17 billion of debt were reached. In January 2009, Oleg Deripaska was appointed Rusal's CEO, replacing Alexander Bulygin, who had held the post for 3 years. In January 2010, UC RUSAL was listed on the Hong Kong Stock Exchange with its IPO price of HK$ 10.8 per share and capital raising of US$ 2.2 billion. The IPO attracted investors such as Nathaniel Rothschild , Robert Kuok , Paulson & Co, John Paulson and Vnesheconombank . Rusal also trades global depository receipts on
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2646-556: The current RUSAL was formed under UC RUSAL. 2008: UC RUSAL completes the acquisition of a 25% + 1 shares stake in Norilsk Nickel , the world's second largest producer of Nickel and one of the world's leading producers of platinum and copper . 2010 : UC UC RUSAL conducts initial public offering of shares and depositary receipts in Hong Kong . 2011 : En+ establishes En+ logistics, to provide logistics services predominantly to its Energy Segment. 2013: As relationship between
2709-405: The development of new unique production technologies including RA-300 and RA-400 reduction cells for RUSAL. The new technologies allowed for large-scale greenfield and brownfield projects. In 2005, RUSAL created its own engineering and construction subsidiary, Rusal-Engineering Development Limited, responsible for modernization and construction projects. In December 2006, RUSAL acquired through
2772-474: The group of companies that now compose UC RUSAL. The consolidation of RUSAL Holding Limited was completed in 2004, 100% of its shares were transferred to En+ Group. 2001 – 2007: The Group acquired 50.2% of the shares of Irkutskenergo , a power company that owns the Irkutsk , Bratsk and Ust-Ilimsk HPPs and several CHPs in the Irkutsk region of Russia, with an aggregate generation capacity of 12.8 GW. In 2016
2835-450: The industry's carbon footprint. Rusal signed an agreement in September 2021 with the UK’s Budweiser Brewing Group to produce five million ultra-low carbon beer cans. The cans will be 440ml in size and come from Rusal’s Krasnoyarsk plant in Siberia , which uses hydro-power as energy source. Following the 2011 Toho earthquake and tsunami, UC Rusal donated $ 600,000 to Japanese children's and cultural heritage foundations. These included
2898-422: The largest solar power plant of Eastern Siberia. Rusal United Company RUSAL, international public joint-stock company ([МКПАО «ОК РУСАЛ»] Error: {{Langx}}: transliteration text not Latin script ( help ) ) is the world's second largest aluminium company by primary production output (as of 2016). It was the largest until overtaken by China Hongqiao Group in 2015. UC RUSAL accounts for almost 9% of
2961-399: The list for being owned or controlled by Oleg Deripaska, who was also among the sanctioned entities. As a result of the sanctions, the U.S. government froze all US assets of EN+ Group and prohibited U.S. persons from doing business with the company. In response, the chairman of the board of directors of EN+ Group, Rt Hon The Lord Barker of Battle presented a plan aimed at the de-listing of
3024-460: The lives of business rivals, extortion and racketeering. Other allegations included that Deripaska ordered the murder of a businessman, and had links to a Russian organized crime group. On 23 April, however, the US government gave subsidiary Rusal America Corporation's customers "more time to comply with sanctions", even saying it would "consider lifting them if United Company Rusal Plc’s major shareholder, Russian tycoon Oleg Deripaska, ceded control of
3087-553: The modernisation of old smelters and construction of new smelters in Siberia. With Chinese aluminium demand growing due to rapid urbanization and industrialization, UC Rusal signed a joint venture agreement with China North Industries Corporation (NORINCO) in April 2012. Rusal also signed a memorandum of understanding with one of its main competitors, Shandong Xinfa Group, pertaining to the study of future potential cooperation areas, such as joint ventures. March 2014 saw UC Rusal enter into
3150-538: The newly formed company was estimated to have pro-forma sales of $ 12 billion and production capacity of about four million tonnes of aluminium and 11 million tonnes of alumina. In November 2007, RUSAL signed a cooperation agreement with Samruk-Energo, a subsidiary of Samruk-Kazyna , on the creation of a 50/50 joint venture to operate the Bogatyr Komir LLP , the largest coal mining company in Kazakhstan. Because of
3213-501: The production of “green aluminum." The company is the world's largest independent hydropower generator. EN+ is led by Vladimir Kolmogorov. In 2020, the company reported revenues of $ 10.36 billion and a net income of $ 1.86 billion. It is publicly traded and listed on the London Stock Exchange . 2002: En+ Group established. 2003: RUSAL Holding Limited established following a corporate restructuring and consolidation of aluminium and alumina assets. These assets would later form
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#17328691834703276-572: The project, which involved the construction of an integrated bauxite and alumina complex in Russia's Komi Republic . Also in 2005, RUSAL completed the acquisition of a 20% equity interest in one of the world's largest alumina refineries in terms of production capacity, Queensland Alumina Limited , located in Queensland, Australia. Furthermore, RUSAL purchased assets of a cathode plant in Lingshi County of Shanxi Province , China. In April 2008,
3339-455: The recriminations . On 8 July 2013, the CEAC officially went bankrupt, having up to that point accumulated a debt of 383 million euros, while the company itself is worth 180 million euros. 2014: Boguchansk HPP initiated operations (as part of the BEMO 50/50 joint venture between UC RUSAL and RusHydro ). 2016: The first half of the first stage of the Boguchansk aluminium smelter (as part of
3402-426: The restructuring of its debt. In November 2014, Vladislav Solovyov was appointed as Rusal's CEO, while Deripaska assumed the role of company president. In 2016, UC Rusal signed another joint venture agreement with a Chinese firm, Hebei Joy Sense Cable Co. (HJSC), to produce aluminium cable for electrical applications. In 2017, Rusal issued two Eurobonds to finance its debts. The first one, worth US$ 600 million,
3465-597: The sale is approved, Onexim will retain a 6.7% stake in Rusal, while SUAL's will increase to 22.80%. As of 2023, UC Rusal's biggest shareholders are En+ Group with a controlling stake of 56.88% and SUAL (25.52%); company's free-float stands at 17.6%. As of the end of 2020, UC Rusal owned 9 aluminium smelters, 9 alumina refineries, 7 bauxite mines worldwide, and 4 domestic foil rolling mills. Rusal owns and operates eight aluminium smelters , four alumina refineries and three foil rolling mills in Russia: In April 2018,
3528-537: The shares and belongs to Deripaska. In Ukraine, RUSAL increased its share in the Nikolaev alumina refinery to 98%. In 2004, Rusal made the strategic decision to focus on its upstream business and began disposing of its downstream assets, including the sale of its fabricating division to Alcoa in January 2005. The divestiture process was largely completed in 2006 with the distribution of certain aluminium construction plants and other non-core assets to companies controlled by RUSAL's beneficial owner. In 2004, Rusal obtained
3591-627: The sustainable production of aluminium upon joining the Aluminium Stewardship Initiative. As a response to increased demand for sustainably produced aluminium from major downstream industries – particularly the motor, packaging and electronics sectors – Rusal introduced Allow, a low-carbon aluminium brand, in November 2017. According to Reuters , Allow covers roughly 80% of Rusal's total output. In 2017, Deripaska expressed support for introducing steep carbon taxation in order to force other firms away from using coal power and reduce
3654-399: The world's largest aluminium company at the time, with assets in 17 countries across five continents, including 16 aluminium smelters, 12 alumina refineries, eight bauxite mines, three powder metallurgy plants, three silicon smelters, three secondary aluminium plants, three aluminium foil mills, two cryolite plants, and one cathode plant. The merger was completed in March 2007, at which time
3717-424: The world's primary aluminium output and 6.5% of the world's alumina production, while operating assets in 13 countries over five continents, employing over 61,000 people across its international operations and offices. The company is incorporated in Jersey , where it has its financial centre, but its headquarters are in Moscow , Russian Federation . UC Rusal is a public limited company and its shares are traded on
3780-423: The world's primary aluminium output and 9% of the world's alumina production. RUSAL was founded by a major Russian industrialist Oleg Deripaska . The United Company was formed by the merger of RUSAL ( Rus skiy al yuminiy, lit. Rus sian al uminium) ( Russian : Русский алюминий ), SUAL , and the alumina assets of Glencore , completed in March 2007. According to its own statistics, UC Rusal accounts for 6.2% of
3843-420: Was founded in 2000 after Sibirsky Aluminium and Millhouse Capital , owned by Roman Abramovich, agreed to merge their aluminium and alumina assets. By 2002, Sibirsky Aluminium and Millhouse Capital were managing controlling stakes in the Armenal foil mill in Armenia and the Belaya Kalitva metallurgical plant and Novokuznetsk aluminium smelter [ ru ] in Russia, and also took under management
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#17328691834703906-466: Was issued in February, followed by a second one in April, worth US$ 500 million. Also in February, plans were announced to sell 10 billion yuan worth of seven-year onshore bonds to finance purchases in China, making Rusal the first foreign company to offer panda bonds on the Shanghai Stock Exchange . The company also agreed on a pre-export finance mechanism with international lenders worth US$ 1.7 billion for debt refinancing. In April 2017, Rusal signed
3969-544: Was prevented from obtaining cash either in return for his shares or from future dividends issued by En+ or Rusal. EN+’s RUSAL business unit announced a plan in May 2021 to split itself into two companies, separating its high-carbon products from its low-carbon products. The low-carbon company will be called AL+ and was expected to keep 60% of its aluminum production and 70% of its alumina production assets. The high carbon assets will include five aluminum smelters, fours alumina refineries, and two bauxite mines. The move to demerge
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