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RUSAL Won’t Sell Norilsk Nickel
United RUSAL has no intention to dispose of stocks of GMK Norilsk Nickel (GMKN), which it owns in the size of 25 percent plus two stocks, PRIME-TASS reported with reference to the statement of UC RUSAL.
UC RUSAL said its stake wasn’t involved in the yesterday’s slump of GMK Norilsk Nickel on Russia’s and foreign exchanges. UC RUSAL views the investments in Norilsk Nickel strategic and doesn’t intend to dispose of the stake, the company made clear.
United Company RUSAL was created March 27, 2007 as a result of consolidation of RUSAL, SUAL and aluminous assets of Swiss Glencore.
Russia’s oligarch Oleg Deripaska owns 57 percent in UC RUSAL, SUAL holds 18.8 percent, Mikhail Prokhorov owns 14 percent and Glencore has 10.2 percent.
The plants of UC RUSAL produced 4.2 million tons of aluminum, 11.3 million tons of alumina and 17.35 million tons of bauxites in 2007. RUSAL covers roughly 12 percent of global aluminum market and 15 percent of the market of alumina. Not-audited revenues equaled $14.3 billion in 2007.
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