Moscow, July 16, 2012 - (ACN Newswire) - UC RUSAL (SEHK: 486; Euronext: RUSAL/RUAL; MICEX-RTS: RUALR), the world's largest aluminium producer, is pleased to announce that the Company has become a member of the China Nonferrous Metals Industry Association (CNIA), which is the most influential national non-profit organisation in the PRC which represents the interests of non-ferrous industry players. The membership of the CNIA represents another milestone in the Company's strategy to secure its long-term presence in the Chinese market.
Membership of the CNIA will allow RUSAL to co-operate with the organization in terms of the long-term sustainable development of the aluminium industry, promotion of the use of aluminium, protection of the environment and other issues of mutual interest. Presently RUSAL produces 3.5 million tonnes of aluminium per year at its smelters in Siberia, and this is forecast to grow to over 4.8 million tonnes with the commissioning of the Boguchansky and Taishet smelters. Over 90% of this capacity is low carbon footprint due to being hydro-powered and is ideally located to support China's growing aluminium consumption which is expected to reach 30 million tonnes by 2016 from 19 million tonnes in 2011.
"We are very pleased to become a member of CNIA. RUSAL strives to continuously expand its activities in China by making full use of its market potential and industrial advantages through potential projects and possible partnerships in China. Growing urbanization and industrial development will continue to drive China's dominant role in the global aluminium consumption, and RUSAL, as the world's largest producer of the light metal, is ready to meet this demand,"said RUSAL's Deputy CEO Oleg Mukhamedshin.
In 2011, RUSAL became the second foreign company to obtain China's SHFE Aluminium Contract registration for its particular brands produced at the Irkutsk and Khakas aluminium smelters. In April this year, the Company announced the start of operations of North United Aluminium (NUA, the former Shenzhen North Investments) - the Shenzhen-based joint venture of RUSAL and NORINCO, specializing in aluminium, alloys and other non-ferrous metals trading on the Chinese market. UC RUSAL also operates the Shanxi Cathode plant.
Note for editors:China Nonferrous Metals Industry Association ("CNIA") is a national, non-profit industrial management organization formed by enterprises, institutional establishments, social groups, organizations and individuals in China's nonferrous metals industry. CNIA establishes and improves the self-disciplinary mechanism of the industry, advises the Government and actively brings into display its role in bridging and linking the Government and the enterprises, and promotes the positive development of the non-ferrous metals industry of China. The Association issues regular industry updates and analyses, setting standards for industry players to reference and follow. It has set up 15 sub-associations, each of which focuses on the development of its respective non-ferrous metal, namely aluminium, copper, lead, magnesium, recycling metal, etc.
About UC RUSAL
UC RUSAL (www.rusal.com) is the world's largest producer of aluminium, in 2011 accounting for approximately 9% of global production of both aluminium and alumina respectively. UC RUSAL employs about 74,000 people in 19 countries, across 5 continents. UC RUSAL markets and sells its products primarily in the European, Japanese, Korean, Chinese, South East Asian and North American markets. UC RUSAL's ordinary shares are listed on The Stock Exchange of Hong Kong Limited (Stock code: 486), global depositary shares representing UC RUSAL's ordinary shares are listed on the professional compartment of Euronext Paris (RUSAL for Reg S GDSs and RUAL for Rule 144A GDSs), and Russian depositary receipts that are issued on common shares of the Company are listed on MICEX-RTS (RUALR) stock exchange.
DisclaimerThe information contained in this press release is for media advice only. The contents are true and accurate at the time of publishing, however, may change over time.
Source: UC RUSAL
Contact:
Vera Kurochkina +7 (495) 720-51-70 vera.kurochkina@rusal.com
Copyright 2012 ACN Newswire. All rights reserved.
