Contents tagged with Rusal

  • Coup in Guinea threatens Russia’s aluminum production

    The military coup in Guinea may become a painful blow to the aluminum empire of the Russian tycoon Oleg Deripaska who built it in the bloody chaos of the 1990s.

    Russia's largest aluminum producer Rusal could lose a third of its production as it relies on supplies of bauxite from Guinea, an industry source told RIA Novosti.

    Guinea, where 43% of the population lives below the poverty line and 32% cannot read and write, ranks first in the world in terms of bauxite reserves, providing 20% of …

  • Deripaska’s Rusal confirms plans to reregister in Russia

    UC Rusal has confirmed its plans to reregister in Russia, reports RBC news agency reference with reference to a company spokesperson.

    As announced earlier at the St. Petersburg International Economic Forum by Russian Deputy Minister of Economic Development Ilya Torosov, the company intends to reregister in Kaliningrad, Russia.

    In August last year, the company announced that it was considering changing its jurisdiction from Jersey Island (one of the world’s largest offshore havens) to Russia. …

  • Russian oligarch Deripaska complains of billions lost due to US sanctions

    The Russian oligarch Oleg Deripaska has lost billions as a result of US sanctions on himself and the companies he controls. The damage from these sanctions is in excess of $15 billion, Deripaska said in a statement.

    These losses have been suffered by “investors, suppliers and clients of En+, Rusal and the GAZ Group” according the statement published on Deripaska’s website. The sanctions have “ruined a person’s life and business, and put hundreds of thousands of people at risk, including staff …

  • Deripaska’s company Rusal asks Kremlin to provide concessions for transport tariffs as US sanctions take effect

    Russian billionaire Oleg Deripaska’s company, UC Rusal, requested through Prime Minister Dmitry Medvedev to reduce costs for transportation of raw materials and finished products by rail, the Kommersant newspaper reports.  

    According to the sources cited in the newspaper, Rusal asked to reduce tariffs of the Russian Railways company for transportation of raw materials and products, which was estimated by the company to be worth around 24 billion rubles (380 million dollars) from July 1. …