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28 September
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Metal Supply and Sale
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Rusal to expand aluminium sales in AsiaUC Rusal announced that it has signed the Letter of Intent with China North Industries Corporation (Norinco). The document emphasises the intent of Rusal to acquire a stake in a sales and marketing subsidiary of Norinco, which operates on the People’s Republic of China primary aluminium market. It also specifies the intent of Norinco to invest into the high-tech production capacities of Rusal’s Siberian smelters. |
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14 September
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Hydro raises conversion prices for General Engineering strip and sheetHydro will increase prices for uncoated rolled aluminium products from its General Engineering Product Group (GE) by EUR 100 per tonne, effective January 2011, for all quarterly and monthly negotiated agreements. |
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14 September
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Press release
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Rio Tinto acquires additional shares of Ivanhoe Mines on automatic conversion of credit facilityRio Tinto confirmed today that it has acquired 40,083,206 common shares of Ivanhoe Mines, increasing its ownership by 5.3 per cent to 34.9 per cent of Ivanhoe Mines' outstanding common shares (1). The common shares were acquired in accordance with the terms of the US$350 million convertible credit facility Rio Tinto made available to Ivanhoe Mines Ltd. in 2007 which was fully drawn down by mid-2008 and which matured today. The outstanding principal and accrued interest ($400,832,056) under the credit facility automatically converted on maturity into common shares of Ivanhoe Mines at a price of US$10.00 per share. |