Press-releases

Moscow, 27 October 2008 – UC RUSAL, the world’s largest aluminium and alumina producer, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with An Vien of Vietnam to create a vertically integrated bauxite and alumina complex. The project will include the construction of an alumina refinery with a capacity of approximately 1.5 million tonnes of alumina per annum based on Binh Phuoc, one of the most promising bauxite deposits in South Vietnam.

Moscow, 21 October 2008 - UC RUSAL, the world’s largest aluminium and alumina producer, is pleased to announce the launch of production of super thin 9 microns aluminium foil at the ARMENAL foil mill (Armenia). The company invested USD 6 million in super thin foil production technology in 2007-2008 to meet the high demand from global markets.

Moscow, 16 October 2008 – UC RUSAL, the world’s largest aluminium and alumina producer, is pleased to announce the 2008 year results of the Global Technology and Innovation Research Project, a long-term programme designed to involve leading universities and research centres in the identification of innovative and sustainable applications for aluminium products.  A joint committee comprising of UC RUSAL, the International Aluminium Institute (IAI) and Professor Thomas Graedel from the Yale University, as the independent expert, has selected three of the most promising research projects to receive funding to explore and test creative ideas in 2009.

Moscow, 14 October 2008 – UC RUSAL, which owns a 25% plus two shares stake in Norilsk Nickel,  is issuing this statement to raise its concerns about the announced purchases of a number of assets by  a Norilsk Nickel subsidiary from Vladimir Potanin, the shareholder controlling the company, as well as about financial situation of Norilsk Nickel in general.

Moscow, 10 October 2008 – UC RUSAL, the world’s largest aluminium and alumina producer, announces that it has received the decision of the Moscow arbitration court on its suit against LUKOIL. In accordance with the appeal filed by UC RUSAL on 13 August 2008, LUKOIL is obliged to supply about 20,000 tonnes of oil coke to UC RUSAL smelters. The court has also ruled that LUKOIL should be fined 750,000 rubles. UC RUSAL is satisfied with the court decision and looks forward to LUKOIL fulfilling its obligations.

Moscow, 10 October 2008 – UC RUSAL, which owns a 25% plus two shares stake in Norilsk Nickel, today requested an Extraordinary General Meeting of Norilsk Nickel’s shareholders to elect a new, expanded Board of Directors that will represent the interest of all shareholders. UC RUSAL believes the current board has demonstrated that it is incapable of acting in the interests of all shareholders, has abused corporate governance principles and presided over the destruction of significant shareholder value. Following consultations with Norilsk Nickel’s minority shareholders, UC RUSAL is proposing Luca Cordero di Montezemolo, Tye Burt and James Goodwin as independent non executive directors of the new Board.

Moscow, 7 October 2008 – UC RUSAL, which owns 25% plus two shares of Norilsk Nickel, believes that it is necessary to issue the following clarification in light of the abrupt drop in Norilsk Nickel’s shares:

The decision of Norilsk Nickel about directing the cash of its subsidiaries to buy back Norilsk Nickel’s shares is a serious violation of corporate governance principles and minority shareholders rights.  Using the imperfections of the Russian legislation and its uncontrolled power over Norilsk Nickel Vladimir Potanin as the Chairman of the Board of Directors and Vladimir Strzhalkovsky, CEO of Norilsk Nickel appointed by Vladimir Potanin, again demonstrated their absolute unwillingness to take into account the interests of other shareholders and eagerness to violate principles of corporate governance to retain full control over the company.  This looks even more cynical given the fact that Vladimir Potanin is the Chairman of the National Council for Corporate Governance in Russia.

Moscow, 22 September 2008 – UC RUSAL, the world’s largest aluminium and alumina producer, is pleased to announce that it has signed a Memorandum of Understanding (MOU) with the Libyan State Economic and Social Development Fund (ESDF) to create a joint venture to develop an energy and metals complex in Libya.  The agreement sets out a plan to develop an aluminium smelter with a capacity of 600,000 tonnes per year and a 1500 MW natural gas power station.