MOSCOW - President Vladimir Putin on Monday praised ties with Guyana, telling the president of the small South American country where aluminum giant OAO Rusal has substantial holdings that Russian businesses were finding good opportunities there.
"Russia is developing relations with both big and small states. And I feel happy that our businesses find opportunities to work in Guyana, that culture and education ties are growing," Putin told President Bharrat Jagdeo at a Kremlin meeting.
A Kremlin official, speaking on customary condition of anonymity, said ahead of the meeting that the two leaders would also be discussing restructuring Guyana's debt to Russia and intensifying trade and economic cooperation.
Also attending the meetings, according to ITAR-Tass, was Rusal owner Oleg Deripaska, whose company has extensive bauxite deposits in eastern Guyana, one of the few countries that produce alumina, or refined bauxite, for use in aircraft and industrial construction.
Rusal started talks last year with Canadian mining concern Cambior Inc. and the government to buy out their stakes in the country's southern mines.
Also last year, Rusal unveiled a three-way $30 billion merger to create the world's biggest aluminum producer, bringing in assets from Russian rival Sual and alumina assets of Swiss-based trader Glencore. The assets include facilities in Guyana, among other places.
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