SUAL, Russia Metals and Mining

Volgograd aluminum plant to be launched this year

The resumption of the production of primary aluminum, as well as the creation of a new anode factory at the VGAZ-SUAL enterprise, will provide the Volgograd region with 2.5 thousand jobs.

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Why Suleiman Kerimov wants share in UC Rusal

As the Kommersant has got to know, Suleiman Kerimov may buy a package of UC Rusal from ONEXIM with the aim to conduct a spin-off of Norilsk Nickel’s shares, owned by the aluminum company.

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S. Kerimov’s structures might buy 17% of UC Rusal from M. Prokhorov

Onexim of M. Prokhorov actively sells a package of Rusal, it was offered to many candidates. The controlled by the son of S.

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Onexim considers an opportunity of sale of a part of assets

​The group of M. Prokhorov suggested selling 17% of Rusal to Sual of V. Vekselberg and Glencore, Bloomberg reports. According to it, the offers were not formal. There were no official negotiations due to the disputes upon the price.
Onexim was reported to sell all its Russian assets. The group denied this information.
These rumors may aim at discrediting Mr. Prokhorov as a politician, the chief editor of “Nezavisimaya Gazeta”, K. Remchugov, said. He said that Prokhorov may have a potential threat for the Government.

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Rusal’s affiliate to pay 300 mln roubles for waste

The 17th Court of Appeal has confirmed the decision of the Court of Appeal of the Sverdlovsk region on the collection from Sual of almost 300 mln roubles in favor of the department of Rosprirodnadzor in the Urals federal district.
The agency filed a claim against the company in August 2015. The claimant said that BAZ-Sual illegally placed over 63 mln tons of waste at the open area. The department of Rosprirodnadzor asked for 293.8 mln tons of compensation for the environmental pollution. The representatives of Sual assured that this was not waste but the final products shipped to consumers. 

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FAS defers the consideration of the case on violation of antimonopoly legislation by UC Rusal.

Commission of the Federal Antimonopoly Service (FAS) deferred consideration of the case against UC Rusal for a more detailed study of materials until December 24.
The case on the grounds of violation of the Federal Law "On Protection of Competition" was opened on October 9 on the basis of the statement of the "Magnitogorsk Iron and Steel Works" (MMK).

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UC Rusal can cease aluminum sales in the Ukraine via ZAlK-AKZ and can introduce direct supplies from Russia for the Ukrainian consumers

UC Rusal can cease the sales of aluminum made in Russia and aluminum rolled wire via its subsidiaries Zaporozhye Production Aluminum Combine (ZAlK) and Aluminum Rolled Wire of Zaporozhye (AKZ), and can start supplies of the products under the direct contracts between the Russian structures and the Ukrainian consumers. The final decision is not admitted as yet. After closure of crude aluminum supplies to ZAlK and aluminum rolled wire production in July, they sold these products from Russia, mostly via AKZ founded recently. The monthly sales are 1,500 tons of aluminum.

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Oleg Deripaska may leave position of UC Rusal’s general director

UC Rusal, which completed the refinancing of its debt in the amount of $11 billion at the end of August, may begin a corporate transformation. According to unofficial information, Oleg Deripaska intends to transfer the post of general director to his first deputy, Vladislav Soloviev. Besides, the holding company En + of Mr Deripaska, which owns 48.13% of UC Rusal’s shares, announced the possibility of the release of Norilsk Nickel’s shares from the balance of the company. This, according to En +, may hasten the start of dividend payments by UC Rusal. But this issue hasn’t yet been discussed with shareholders.
Oleg Deripaska could leave the post of general director of UC Rusal and become president of the company (there is no such position now), and the company will be leaded by the first deputy CEO Vladislav Soloviev, Interfax reported yesterday, citing its sources. Sources of the Kommersant confirmed this information. According to the two of them, "the topic is being discussed, but hasn’t yet been resolved," one of the Kommersant’s interlocutors is inclined to consider this "a closed subject".

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RusAl to confirm Taishet anode plant construction schedule by the end of 2014

UC RusAl plans to confirm the schedule of Taishet anode plant 'sconstruction by the end of the year and choose investors for the project, the chief executive E.Nikitin said during a telephone conference.
He has also noted that the construction of the Taishet aluminium plant will be resumed; however it directly depends on the world economy and aluminium market. So, RusAl refuses neither of these projects.
It was stated earlier RusAl terminated the construction of Taishet aluminium and anode plants because of low prices on aluminium. The company was about to proceed the construction of the first stage of anode plant in H2, 2013 after the signing of a financing agreement with VEB. RusAl has invested approximately $750 million since the start of the project in 2006.

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UC Rusal’s debt refinancing not completed as yet

As the Kommersant has got to know, UC Rusal of Oleg Deripaska has to come to an agreement with three banks to refinance its foreign loans for $3.68 – Natixis, BNP Paribas and Royal Bank of Scotland (RBS), to which the company owes $350 million. But the talks are difficult. RBS insists on the loan payment, including because of the sanctions against Russia. And BNP Paribas is ready to refinance the UC Rusal’s debt, if debt issues with other structures of Deripaska are solved. It may be a question of $100 million on guarantee for the loan, provided to Russian machines for purchase of Magna’s shares in 2007.
Sources that are familiar with the pace of the talks have told the Kommersant that UC Rusal must agree with the French banks Natixis, BNP Paribas and British RBS on the refinancing of two consortium pre-export loans for $4.75 billion and $400 million ($3.68 billion remains to be paid for both of them). UC Rusal’s report doesn’t include information about these banks’ loans, but according to the Kommersant’s information, the aluminium company owes about $350 million to them. According to the sources, RBS insists on the credit payment, and BNP Paribas “has unsolved problems with other assets, controlled by the main shareholder of UC Rusal Oleg Deripaska” that are discussed together with the debts of the aluminium company.

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