Officials at UC RUSAL have consolidated their ownership of the OJSC Boksit Timana mine, which comprises 30% of Russia’s bauxite reserves. The Moscow-based RUSAL, one of the world’s top aluminum producers, is seeking self-sufficiency in raw materials.
The asset purchase, finalized through a 20% interest following years of negotiations, is “strategically” important, said Yakov Itskov, the head of RUSAL’s alumina division. “Timana bauxite is high quality and can be mined at low cost in an open pit,” he added. Deposits are estimated at 260 million metric tons (mt).
In the Republic of Komi, the operation boasts an annual capacity of 3 million mt, while employing more than 500, said company officials. The bauxite, they added, is used for production at the Urals and Bogoslovsk refineries.
Consolidation elsewhere has included a remaining 7% stake in Jamaica’s of West Indies Alumina Co. The move allows RUSAL 100% of a complex comprised of two alumina refineries, bauxite mines and a port; annual capacity is 1.25 million mt of alumina at the site operated by more than 600 workers.