SYDNEY - Newly created Russian alumina/aluminium giant UC Rusal has identified a 1.1 bln usd-plus alumina expansion opportunity at its partly owned Gladstone alumina refinery in the northeastern Australian state of Queensland as one of its immediate growth opportunities, the Age newspaper reported citing the company.
UC Rusal came into being last night at a signing ceremony in Moscow. It brings together the alumina/aluminium assets of Russian groups Rusal and Sual with those of Switzeland-based commodities trader Glencore, the major shareholder in diversified resources group Xstrata Plc.
The Age quoted UC Rusal chief executive Alexander Bulygin as saying the group's 20 pct stake in
Queensland Alumina's Gladstone alumina refinery had the 'potential to be expanded by 1 mln metric tons a year'.
'We are keen to participate with our partners in any expansion,' the newspaper quoted Bulygin as saying.
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