Order products
Our products
Investors
Sustainability
Career
Press-center
Innovations
- Main
- Press-center
- Press-releases
- RUSAL welcomes the Bystrinsky project spin-off in favour of all Nornickel shareholders
Press-releases
- Main
- Press-center
- Press-releases
- RUSAL welcomes the Bystrinsky project spin-off in favour of all Nornickel shareholders
26.03.2021
RUSAL welcomes the Bystrinsky project spin-off in favour of all Nornickel shareholders
Moscow, 26 March, 2021 – RUSAL (SEHK: 486; Moscow Exchange: RUAL), a leading global aluminium producer, announces that a preliminary agreement has been reached between the main shareholders of PJSC MMC Norilsk Nickel, RUSAL, Interros and Crispian to submit to the Board of Directors of MMC the issue of spinning-off the Bystrinsky project in favour of all shareholders of Norilsk Nickel.
The shareholders propose to distribute the ownership share of Nornickel in the Bystrinsky project among all the Company’s shareholders. Nornickel owns 50.01% of the Bystrinsky project, which includes the Bystrinskoye deposit and the Bystrinsky Mining and Processing Plant (GOK). The management of MMC is currently developing a spin-off for consideration by the Board of Directors. Taking into account the time frame for obtaining the necessary permits and completing the necessary corporate procedures, including the general meeting of shareholders of Nornickel, the spin-off process is expected to take approximately two years.
"The possible Bystrinsky GOK spin-off is a logical continuation of the development of this project, which has significant potential. Its geographical location, its proximity to one of the largest sales markets, China, and the unique ore base make the option of an independent future of this asset the most profitable outcome for all shareholders of Norilsk Nickel. The market will also fairly assess the prospects of this project", said Maxim Poletaev, Deputy Director of RUSAL.
For reference:
Interros, RUSAL and Crispian are the beneficial shareholders of PJSC MMC Norilsk Nickel with the following ownership interests, respectively, 34.6%, 27.8% and 4,7%.
The shareholders propose to distribute the ownership share of Nornickel in the Bystrinsky project among all the Company’s shareholders. Nornickel owns 50.01% of the Bystrinsky project, which includes the Bystrinskoye deposit and the Bystrinsky Mining and Processing Plant (GOK). The management of MMC is currently developing a spin-off for consideration by the Board of Directors. Taking into account the time frame for obtaining the necessary permits and completing the necessary corporate procedures, including the general meeting of shareholders of Nornickel, the spin-off process is expected to take approximately two years.
"The possible Bystrinsky GOK spin-off is a logical continuation of the development of this project, which has significant potential. Its geographical location, its proximity to one of the largest sales markets, China, and the unique ore base make the option of an independent future of this asset the most profitable outcome for all shareholders of Norilsk Nickel. The market will also fairly assess the prospects of this project", said Maxim Poletaev, Deputy Director of RUSAL.
For reference:
Interros, RUSAL and Crispian are the beneficial shareholders of PJSC MMC Norilsk Nickel with the following ownership interests, respectively, 34.6%, 27.8% and 4,7%.
Latest news
19.03.24
RUSAL STATEMENT ON THE REUTERS STORY
RUSAL, one of the world’s largest aluminium producers, has seen the latest statement of the European Aluminium to Reuters and has the following comments.
15.03.24
RUSAL announces results for the year ended 31 December 2023
Moscow, 15 March 2024 – RUSAL (SEHK: 486; Moscow Exchange: RUAL), a leading global aluminium producer, announces its results for the year ended 31 December 2023.
06.03.24
RUSAL introduces next generation of one of the most in-demand products – MaxiFlow 2.0
Moscow, 6 March 2024 – RUSAL, one of the world's largest aluminium producers, has successfully completed development and began field-scale tests of a new generation of MaxiFlow billets, version 2.0. This innovation will enable RUSAL's customers to significantly increase extrusion speed and overall production efficiency. The predecessor of this new product – MaxiFlow 1.0 – has already become one of the most in-demand products within RUSAL's product line.
15.01.24
RUSAL extends ASI certification to five more smelters
Moscow, 15 January 2024 – RUSAL, a leading global aluminium producer, announces that five of the company's aluminium smelters have achieved Aluminium Stewardship Initiative (ASI) certification. With the extension, eighteen of RUSAL’s facilities have already confirmed that their activities certify to ASI Performance Standard and ASI Chain of Custody Standard.
11.12.23
RUSAL creates a new AlZn alloy for the automotive industry
Moscow, 11 December 2023 – RUSAL, one of the world's largest aluminium producers, announces the creation of a new AlZn alloy for the automotive industry. The Company has been successfully running several R&D projects with top global automotive parts suppliers on proprietary AlZn alloy.