Rio Tinto is severing its ties with Russia, throwing into doubt an aluminium joint venture between it and Rusal, which is founded by oligarch Mr Oleg Deripaska. Rio Tinto said “It is in the process of terminating all commercial relationships it has with any Russian business.”Rio is reviewing its joint venture with Rusal in Queensland Alumina Ltd which runs an alumina refinery in Gladstone. QAL is 80% owned by Rio and 20% by Rusal, where Mr Deripaska continues to hold a stake through their London-listed parent company, EN+ Group.Production capacity - 4,000,000 tonnes of aluminaProduction share - 619 tonnes of alumina (RUSAL's share)Production technology - The Bayer processHeadcount - 1,150 peopleMr Deripaska and EN+ were among the oligarchs and companies sanctioned in 2018 by the US government over issues including the invasion of Crimea in 2014.
Rio Tinto is severing its ties with Russia, throwing into doubt an aluminium joint venture between it and Rusal, which is founded by oligarch Mr Oleg Deripaska. Rio Tinto said “It is in the process of terminating all commercial relationships it has with any Russian business.”Rio is reviewing its joint venture with Rusal in Queensland Alumina Ltd which runs an alumina refinery in Gladstone. QAL is 80% owned by Rio and 20% by Rusal, where Mr Deripaska continues to hold a stake through their London-listed parent company, EN+ Group.Production capacity - 4,000,000 tonnes of aluminaProduction share - 619 tonnes of alumina (RUSAL's share)Production technology - The Bayer processHeadcount - 1,150 peopleMr Deripaska and EN+ were among the oligarchs and companies sanctioned in 2018 by the US government over issues including the invasion of Crimea in 2014.
