Russian aluminum producer RUSAL has lost a lawsuit against Rio Tinto for its 20% share of production from the Queensland Alumina Ltd (QAL).
The Russian company has 28 days to file an appeal on the Australian Federal Court decision.
“It must be emphasized that this court decision does not deprive RUSAL of its ownership rights to a share in this asset. This also does not affect the current operating activities of RUSAL in the world,” said a company representative.
RUSAL told a TASS correspondent that the company was disappointed with the court’s decision and was studying it. “We have 28 days to file an appeal,” the agency’s representative added.
RUSAL lost access to a major part of its alumina imports due to sanctions and the Russian war against Ukraine. Australia banned the export of alumina, while a refinery in Ukraine suspended its operations, prompting the Russian producer to turn to China and other countries to ensure adequate supply to its Siberian aluminum smelters.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
