UC RUSAL Facing to Renegotiate Guinea alumina refinery

Russian aluminium giant United Company RUSAL (UC RUSAL) is facing review and possible re-negotiation of its 700,000tpy Friguia alumina refinery in Guinea from the country’s government. UC RUSAL purchased a 100 per cent stake of the plant in 2006, but currently, government-appointed committee CIRCAM will review the transaction. Spokesman from the government said “CIRCAM has received instructions from the cabinet to begin renegotiating the price for Friguia shares to determine an exact value of the plant, under the threat of cancellation, pure and simple, of the privatisation." UC RUSAL responded that Friguia and the associated bauxite assets have become its objects under the previous agreement within Guinea government’s full judicial review. COPYRIGHT All rights reserved. The copying, republication or redistribution of WAM News Content, including by framing or similar means, is expressly prohibited without the prior written consent of WAM.