ST. PETERSBURG, June 7. /TASS/. Rusal promises that aluminium supplied to the domestic market will not be more carbon-rich than aluminum intended for export after the division of assets of the aluminium holding. Rusal CEO Evgeny Nikitin said this in an interview with TASS on the sidelines of the St. Petersburg International Economic Forum (SPIEF).
“We did not imply such a division [in quality of aluminium], our clients will receive exactly the metal they order from us. Nobody says that Al+ will not supply products to the Russian market. The fact that the new company will focus on the domestic market, it happened with us historically, the enterprises of the new company today have more than 60% of contracts on the domestic market, these contracts will remain with these enterprises. Therefore, one cannot say that the metal on the Russian domestic market will have a high carbon footprint,” he said.
Rusal, one of the world’s largest aluminium producers, announced earlier that it is pursuing a demerger of its higher carbon assets, whereas the company itself will change its name to Al+.
The Board of Directors has given approval to a proposal from the management and included this item as part of the company’s annual shareholders meeting agenda scheduled for June 24, 2021, Rusal said.
The company will keep most of its production assets and will be better positioned to reach its full potential as a sustainable business, developing ground-breaking inert anode technology which delivers the promise of carbon-free aluminium production, earlier reports said.
En+ (main shareholder of Rusal with 56.88% share) suggested that the new company would be public, traded on Moscow Exchange, with its shares distributed between Rusal shareholders proportionately.