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Foundry Daily News

25. April 2007

Rusal:

expanding in non-ferrous metals instead of 100% dependence on Aluminium?

Rusal, the Russian aluminium maker is thinking to  start making other metals to become less dependent on the aluminium market, chief executive Alexandr Bulygin told Handelsblatt newspaper in an interview.

'All non-ferrous metals such as lead, copper, nickel or zinc that are being traded at the London metals exchange as well as the traditional mining business are interesting for us,' Bulygin said.

He said he is 'not very optimistic' on the further consolidation of the aluminium industry.

Rusal aims to invest about 2.8 bln usd a year to expand in countries with low energy costs and rich mineral resources such as Venezuela, Cameroon, Congo or Laos, the newspaper said, citing Bulygin.

The company, which is majority-owned by Russian oligarchs Oleg Deripaska, Victor Vekselberg and Leonard Blavatnik, also plans to sell shares to the public within the next three years to fill its war chest, Handelsblatt is reporting.

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