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Russian Aluminium's Nine-Month Metal Output Gains

Thursday, Oct 19, 2006
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Oct. 17 (Bloomberg) -- OAO Russian Aluminium, which is buying OAO Sual Group and some of Glencore International AG's assets to create the biggest aluminum company, raised production of metal and raw materials in the first nine months of 2006.

Aluminum production rose to 2.07 million metric tons, 2 percent higher than the year-earlier period. Alumina gained 2.1 percent to 2.95 million tons and bauxite grew 29 percent to 5.39 million tons, Rusal said in an e-mailed statement today.

Soaring commodity prices have fueled mergers and acquisitions among metals and mining companies, with more than $100 billion of takeover offers made this year. Aluminum prices have risen 18 percent this year, trailing the 77 percent jump in copper and a more than doubling in nickel.

The growth in aluminum production was made possible by running smelters more efficiently, Rusal said. The jump in bauxite, the raw material used to make alumina, came after Rusal bought a mine in Guyana and increased output in Guinea and Russia, the company said. Alumina is the white powder smelted into aluminum.

The merged company will pour more aluminum than Alcoa Inc., the world's largest producer leader. Russian President Vladimir Putin, who approved the deal in August, has been consolidating the energy and metals industries under state- aligned companies as surging oil and commodities prices underpin Russia's eight-year economic boom.

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