RUSAL Plan to Cooperate with Samruk to Explore Coal and Energe project

Moscow, Nov. 29—RUSAL said it has made a statement of understanding with Samruk Corporation to set up a joint venture to explore coal and energy resource in Pavlodar. As a part of the statement, RUSAl transfer 50% of Bogatyr and Severny coal mine shares to Samruk Corporation. The two hasn’t fixed the number of money Samruk has to pay for these shares. RUSAL said in this statement: “the value of the shares will determine by an international authority.” This joint venture was mainly supplying for Russia and Kazakhstan market. Bogatyr and Severny coal resource is expected to 4.5 billion ton. Its annual output is 42 million, takes up 45% of Kazakhstan’s total output.