UC RUSAL announces H1 2008 results
Highlights
- Bauxite mining reached 9,044,615 tonnes, up 6.5% compared to the first half of 2007
- Alumina production rose by 1.4%, amounting to 5,659,921 tonnes
- Aluminium production increased by 7.8% to 2,196,262 tonnes
- Output of high value-added casthouse products increased by 13.8% and its share of total aluminium production reached 52
- Foil production increased by 11
- Total revenues grew by 14% to USD 8 billion compared to the first half of 2007
- Revenues from sales on the Russian market increased by 16.2% to USD 1.8 billion
- Revenues from sales outside Russia rose by 13% to USD 6.2 billion
*Figures for H1 2007 reflect the combined production results of United Company RUSAL, formed through the completion of the merger of RUSAL, SUAL and Glencore’s alumina assets. Figures are preliminary and may be revised following audit completion.
Key projects and initiatives
- UC RUSAL finalised the acquisition of 25% plus two shares of MMC Norilsk Nickel from ONEXIM group.
- The company launched two new potrooms at the Irkutsk Aluminium Smelter (IrkAZ). The new production facility will boost annual aluminium production capacity by more than 170,000 tonnes, with total investment in the project exceeding USD 600 million. Another USD 50 million will be invested in casthouse production expansion at IrkAZ.
- UC RUSAL relaunched production at the Alscon Aluminium Smelter in Nigeria in February 2008 as a result of a large-scale modernisation programme. The smelter will reach its full capacity of 197,000 tonnes per annum in 2010. Total investment in the smelter’s modernisation will amount to approximately USD 300 million.
- UC RUSAL has acquired the Baoguan cathode plant in March 2008 to expand its own cathode production capacity in China. The plant’s annual capacity is currently 9,300 tonnes of cathode blocks and the company plans to increase this to 20,900 tonnes by 2010. The total investment in the plant’s development will amount to over USD 20 million.
- The Krasnoyarsk Aluminum Smelter launched test production of colloidal anode paste, which is the component of the second stage of the environmental upgrade of the company’s largest aluminium smelters. The total investment in this colloidal anode paste project will amount to USD 25 million
- UC RUSAL together with the International Aluminium Institute (IAI) launched the Global Technology and Innovation Research Project aimed at encouraging greater use of aluminium and its applications. Over the next three years, the Global Technology and Innovation Project will select the most ground breaking ideas and research projects, with the aim of expanding the use of aluminium and identifying innovative and sustainable applications for aluminium products. UC RUSAL will invest more than USD 2 million in the programme.
| Production (metric tonnes) | H1 2008 | H1 2007 | Change y-o-y |
% | |||
| Primary aluminium (including value-added casthouse products) | 2,196,262 | 2,037,237 | 7.8 |
| Value-added casthouse products alone | 1,134,893 | 997,391 | 13.8 |
| Alumina | 5,659,921 | 5,583,455 | 1.4 |
| Bauxite | 9,044,615 | 5,583,455 | 6.5 |
| Aluminium foil | 36,302 | 32,728 | 11 |
| Powders | 10,111 | 9,502 | 6.4 |
| Silicon | 31,093 | 28,455 | 9.3 |
The significant growth of 7.8% in primary aluminium production is due to the ramp up of production at the Khakas Aluminium Smelter, which achieved its full capacity of 300,000 tonnes per annum, the launch of the Alscon Aluminium Smelter in Nigeria, the fifth potline at the Irkutsk Aluminium Smelter coming on stream, as well as the continued modernisation of existing production facilities and a programme of efficiency enhancements at the Bratsk Aluminium Smelter and other UC RUSAL’s aluminium smelters.
The 1.4% increase in alumina production resulted from improvements to the efficiency of production management at UC RUSAL’s refineries, increase of production at Aughinish Alumina (Ireland), the Nikolaev Alumina Refinery (Ukraine) as well as the enhancement of production processes at the Achinsk Alumina Refinery, the bauxite mining complex in Fria (Guinea) and Alpart Alumina Refinery (Jamaica).
The increase in bauxite mining up 6.5% is due to the installation of new loading and transportation equipment at the Compagnie des Bauxites de Kindia (Guinea) and the installation of additional production equipment at the Bauxite Company of Guyana, as well as the stabilization of production at the bauxite and alumina complexes in Guinea.
Production of aluminium foil increased by 11% as result of the launch of ARMENAL Foil Mill’s full capacity and the increase of foil production at Sayana Foil due to the installation of new production equipment and synergy of the creation of the UC RUSAL.
Continued growth in demand for silicon in Russia and worldwide as well as the optimisation of production and management systems at Silicon and Ural Silicon plants provided for a considerable increase in silicon of 9.3%.
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