Russian aluminum firm UC Rusal has hit back at its partner in Queensland Alumina Ltd, Anglo-Australian mining giant Rio Tinto Group after the latter stepped in and took control of 20 percent of Rusal’s operation.
Rusal disagrees with Rio Tinto’s maneuver and announces that it remains committed to the partnership and QAL so it is confident of re-sharing control with the firm. “Rusal does not agree that the operations of its subsidiary, Alumina & Bauxite Company Ltd. (ABC), currently do not comply with Australian government sanctions and does not agree with the decision made by QAL management that ‘intervention agreements’ under the terms of the joint venture have been triggered or are necessary,” notes from the Russian company.
Rio Tinto stepped in and took control of 100% of QAL’s capacity and governance in early April. The multinational said its actions were necessary to keep the 3.7 million metric ton per year alumina refinery running safely and maintain the operations of one of the region’s largest employers.
RIO TINTO LAUNCHES A TAKEOVER BID FOR ALL QAL SHARES
RUSSIAN RUSAL’S REVENUES INCREASED 40% LAST YEAR
AUSTRALIA CANCELS BAUXITE AND ALUMINA EXPORTS TO RUSSIA
RIO TINTO PREPARES 6GW RENEWABLE ENERGY PLAN IN AUSTRALIA
Aluminium Stewardship Initiative announced Ma’aden Aluminium has been successfully certified to performance and chain of custody standards.
