Foreign media on June 6: Australian media reported on Sunday that Rusal, the world’s second largest aluminum producer, has launched legal proceedings against Rio Tinto, seeking to restore its approximately 20 percent stake in a joint venture aluminum refinery (QAL) in Queensland.
QAL is an alumina refinery located in Gladstone, Queensland, Australia, and is a joint venture between Rusal and Rio Tinto. Rio Tinto owns 80% of the refinery and Rusal owns the remaining shares.
Rusal argues that the contractual terms used by Rio Tinto to control QAL are invalid and unlawfully deprive Rusal of its share of the refinery’s output. The plant produces about 750,000 tons worth of alumina per year.
Rio Tinto cut Rusal’s production and management rights at the refinery in April of this year under an Australian ban on exports of alumina and aluminum ore (including bauxite) to Russia.
Australia also imposed sanctions on the former president of Rusal, Oleg. Deripaska, who holds a stake in the refinery, was sanctioned.
Post time: Jun-07-2022