One of the world’s leading producers of aluminium and alumina. The Russian company operates in 19 countries on five continents and produces 5.8 per cent of the globe’s total aluminium. Founded in 2000 when Sibirsky Aluminium and Millhouse Capital merged their assets, Rusal is a holding of Oleg Deripaska’s firm, Basic Element.
In 2003, Oleg Deripska took full control of Rusal, as Millhouse Capital sold its 50 per cent stake in the company to Basic Element. During the early 2000s, Rusal expanded its global interests, which included the purchasing of stakes in major aluminium producers, such as Australia’s Queensland Alumina Limited. In addition, the company increased its holdings in key Russian refineries. In 2007, Rusal merged with fellow Russian metals producer, SUAL, while also acquiring assets of Swiss mining and trading group, Glencore. This merger created the world’s largest aluminium company at the time, UC Rusal. Oleg Deripaska assumed Rusal’s CEO position in 2009 and raised capital through a Hong Kong Stock Exchange IPO in 2010 to mitigate the debt that the company had secured through rapid expansion. Sanctions imposed on Rusal by the US related to the 2016 election were lifted in 2019 after Deripaska agreed to reduce his stake in the company to less than 50 per cent.
- Family name: Deripaska family
- Sector: Mining & Metals
- Founded: 1997
- Founder: Oleg Deripaska
- Country: Russia
- Company headquarters: Moscow, Russia
- Revenue: 8.7
- Employees: 61,000
- Website: rusal.ru
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