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Deripaska re-elected as Rusal CEO
Oleg Deripaska, the Russian billionaire, is to return as chief executive of UC Rusal after being re-elected by its board.
Chinalco cuts salaries by up to 15%
China’s biggest aluminium producer is to cut salaries by up to 15% this year, while senior executives’ salaries could be cut as much as 50% in an effort to preserve jobs in the face of slumping demand.
Norsk Hydro is to split its business
Aluminium Metal and Aluminium Products will both be divided into two, enlarging the number of business areas in the company from four to six: Energy, Primary Metal, Metal Markets, Rolled Products, Extruded Products and Projects.
More cuts at Neuss
Hydro is to continue with the production cuts at its primary aluminium plant in Neuss, Germany, due to weak market conditions and high energy costs for the smelter.
Nalco continues with Orissa plans
National Aluminium Company (Nalco) is gearing up to start preliminary work on its second aluminium project, a Rs160bn ($3bn) greenfield venture for a smelter with captive power plant in Orissa.
Novelis to stop alumina production at Brazilian site
Novelis will stop production of alumina at its Ouro Preto unit, Brazil from 26 March resulting in the loss of nearly 300 jobs.
Storage centre for smelter opens
UC Rusal has opened storage facilities for its Taishet Aluminium Smelter, which is currently under construction.
Stark warning for 2009
Industry analysts are warning of a dire few months ahead for the aluminium industry as the global downturn takes hold.
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