UC Rusal to cut down,close and to postpone – the company to continue to fight with crisis

The fall of aluminium prices below the prime cost of the UC Rusal’s production has led the company to losses in the amount of $458 million in the second quarter, forced it to increase scales of the production cut and think about postponement of the Boguchansk aluminium plant's launch. The  Board of Directors also approved the closure of the aluminium production at western plants that must decrease the prime cost by $30 per ton, but the effect will appear only in the middle of 2014.

The cpmpany may postpone the launch of the curently being constructed Boguchansk aluminium plant (BoAZ) to 2014, the First Deputy General Director of the compan,y Vladislav Soloviev stated during the phone conference yesterday. According to him, this issue is discussed with the project partners – RusGidro and the Bank for Development and Foreign Economic Affairs, which gives the project financing.