RusAl viewing scenarios to develop bauxite mining

RusAl is considering the opportunity to acquire new bauxite-mining assets. The company is getting ready to sign a memorandum of understanding with the government of Venezuela, where RusAl proposes to set up an alumina plant alongside a bauxite-mining development. The date for signing the memorandum has not yet been settled. Furthermore, a due-diligence analysis of Indian aluminum and ore-mining plants owned by the Vedanta in the state of Rusan is being held. Also, the company is weighing up a number of productive bauxite deposits in Cambodia, Malaysia and Vietnam. The company also launched a joint venture together with the Guyana government for mining bauxites to be refined at RusAl's Nikolayev alumina plant. (The Russia Journal - 05/11/05)