Oleg Mukhamedshin, deputy CEO of Russian aluminium producer UC Rusal, says a decision will be made next month (June) on its planned joint venture projects with Chinese producer Chalco, according to a report by Dow Jones.
It was reported in Aluminium International Today’s March/April edition, in an exclusive interview with Mukhamedshin, that Rusal had already signed a Memorandum of Understanding with Chalco and plans to co-operate with the Chinese aluminium giant on research and development projects involving aluminium production technologies and the development of bauxite resources. There are also plans to discuss integrated hydro-powered aluminium production.
According to Mukhamedshin, China is the largest market for Rusal’s products and the country intends to increase consumption by between 9-10%.
Mukhamedshin was a speaker in the opening session of CRU’s recent World Aluminium Conference in London where he told delegates that the global aluminium industry, excluding China, was facing significant over-supply problems and that inventory levels currently stand at between 9-10Mt - twice the level reported at the beginning of the global economic crisis.
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