Russia's UC RusAl confirms joint project with Antam: Report

Russian aluminum giant United Company RusAl said Monday it was considering establishing a bauxite and alumina processing complex in Indonesia, Russian news agency RIA Novosti reported.

 

The company confirmed reports that it may join Indonesian state owned mining company PT Aneka Tambang (Antam)  to set up a plant in Kalimantan at a cost of $220 million and with capacity of 300,000 metric tons a year.

 

"Indonesia is interesting for us in terms of rich bauxite reserves, and we are studying opportunities for a project to build a bauxite and alumina producing complex," spokeswoman Olga Sanarova said.

 

United Company RusAl, established in March 2007 through a merger of Russian aluminum giants RusAl and SUAL and Swiss Glencore's alumina assets, accounts for 12.5 percent and 16 percent of the global aluminum and alumina markets, respectively. (*)