UNITED COMPANY RUSAL, INTERNATIONAL 
By Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
(Incorporated under the laws of Jersey with limited liability)
(Stock Code: 486) PROGRAM OF REPLACING LESS EFFICIENT ALUMINIUM SMELTERS WITH MODERN PRODUCTION FACILITIES
This announcement is made pursuant to Rule 13.09 of the Rules
Governing the
Listing of Securities on The Stock Exchange of Hong Kong
Limited.
United Company RUSAL Plc (the "Company") announces that its
Board of Directors (the "Board") approved a long term program
of gradual reduction of primary aluminium production at a
number of less efficient aluminium smelters currently owned
and operated by the Company (the "Program").
In order to maintain a competitive position in the global
aluminium market, the Company is contemplating a permanent
reduction of primary aluminium smelting capacity with a high
relative cash cost position per tonne of primary
aluminium.
The Company will place under review and evaluation the
feasibility of decommissioning of the following smelters
(hereinafter, the "Smelters"): Bogoslovsk aluminium smelter
("BAZ"), Volkhov aluminium smelter ("VAZ"), Nadvoitsy
aluminium smelter ("NAZ") and pot rooms 3 and 4 of Phase 1 of
Novokuznetsk aluminium smelter ("NkAZ"). The Company
estimates that the Program will affect approximately 275
thousand tonnes of primary aluminium capacity (if compared
with 2011 production). Subject to the review proving the
feasibility of curtailment and permanent reduction of
smelting capacities, it is expected that up to 150 thousand
tonnes of the smelting capacities could be decreased by the
end of 2012 with the remainder to be gradually decreased in
stages by 2015 and 2018.
Under the Program, it is envisaged that the decommissioning
of the Smelters will coincide and be aligned with the
commissioning of modern and highly efficient facilities in
Siberia, including the commissioning of the Boguchany
aluminium smelter.
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The proposed decommissioning of the Smelters is still subject
to certain approvals of the relevant Russian authorities and
further Board approvals.
27 August 2012
By Order of the board of directors of
Director
As at the date of this announcement, the executive Directors are Mr. Oleg Deripaska, Ms. Vera Kurochkina, Mr. Petr Sinshinov, Mr. Maxim Sokov and Mr. Vladislav Soloviev, the non-executive Directors are Mr. Dmitry Afanasiev, Mr. Len Blavatnik, Mr. Ivan Glasenberg, Mr. Maksim Goldman, Ms. Gulzhan Moldazhanova, Mr. Dmitry Razumov, Mr. Artem Volynets, Mr. Dmitry Yudin , and the independent non-executive Directors are Mr. Barry Cheung Chun-yuen (Chairman), Dr. Peter Nigel Kenny, Mr. Philip Lader, Ms. Elsie Leung Oi-sie and Mr. Matthias Warnig.
All announcements and press releases published by the Company are available on its website under the links http://www.rusal.ru/en/investors/info.aspx and http://www.rusal.ru/en/press-center/ press-releases.aspx, respectively.
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