UC RUSAL and China North Industries Corporation announced that the signing of a contract for aluminum delivery. Under the contract, UC RUSAL will supply 1,680,000 tonnes of its aluminum to NORINCO between 2010 and 2016.

The metal will be shipped to NORINCO from UC RUSAL Siberian smelters, which are favorably located in proximity to UC RUSAL Chinese clients. The shipments will be made in standard ingots of 15 kilograms per piece to 25 kilograms per piece.

UC RUSAL has a well diversified sales platform covering the US and Japan and also has a strategic focus on high growth markets, South East Asia and China in particular. UC RUSAL’s sales to China are expected to represent 5% of its revenue in 2009 and the company aims to increase this to 10% of revenue by 2015.

Mr Artem Volynets RUSAL’s director for corporate strategy said that “UC RUSAL is a natural strategic partner for aluminum consumers in China. This agreement represents a significant step towards achieving our strategic objective of increasing exposure to the Chinese market. In addition, it allows our partner, NORINCO, to benefit from UC RUSAL key competitive advantages: a sustainable low cost position and favorable location. We consider China to be a long term driver for aluminum demand due to its rapid pace of urbanization and industrialization and are pleased to continue expanding our mutually beneficial cooperation with Chinese clients.”

Mr Xu Yuping of NORINCO said that “We are excited to begin our collaboration with the global aluminum leader by sealing this mutually beneficial deal. NORINCO believes that our contract with UC RUSAL will help fostering the rapidly growing economic ties between Russia and China strongly encouraged by the leadership of both countries and we look forward to building on this collaboration with our new partner for many years to come.”