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"RUSAL": aluminum plant in Nigeria can be sold

15 April 2014

Referring to the information obtained from multiple sources, acquaintance with the plans of the company «RUSAL», the company Bloomberg reported that the world's largest aluminum producer searches for a potential customer to buy it owned Alscon aluminum plant in Nigeria. Presumably as a mediator in charge of the search for a buyer, will perform Renaissance Securities (Cyprus) Ltd. Comment this information to the press-service of «Rusal» has refused, but at the same time announced the issuance of the mandate of the Renaissance for the implementation of non-core assets.

A little earlier by the ITAR-TASS has been informed that the company decided to use the Renaissance Securities (Cyprus) Ltd services for evaluation of non-core assets with their sales organization afterwards. The names of the alleged non-core assets is not specified. «RUSAL» company has assets that are located in 13 countries, and owns 15 factories producing aluminum, 8 bauxite mines and 11 — for the production of alumina. In addition to the above the company has enterprises for the production of silicon, powders, secondary aluminum production and cryolite. Owns «RUSAL» and the enterprise for the production of cathodes, as well as several factories foil rental.

Get rid of non-core assets of the company is planning the program for the reduction of inefficient economic capacity. In 2013, the outcome of this project was to reduce the volume of aluminum smelting by 7.6% relative to 2012, which amounted to 3,857 million tons. This year the company plans to reduce the rate by another 9%, amounting to 3.5 mln. Tons.

Meanwhile, analysts at Credit Suisse predict a decrease in the value of the metal in 2014, while the estimated average costs 1775 USD per ton, although earlier the figure was USD 1813 per tonne. However, in 2015, prices will rise again, and the estimated cost will be 1925 USD per ton. Despite price fluctuations, the volume of smelting of aluminum in 2014 increased compared with February last year by 57 000 tonnes, which ultimately amounted to 3.967 million. Tons. Nevertheless, the global volume of melted metal fell by 286 000 tonnes. Global volumes of melted aluminum in January of this year increased by 2.8% compared to the same period last year.

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