United Company RUSAL Plc : The Signing of Annex 11 to the Dian-Dian
Concession Agreement with the Republic of Guinea
HONG KONG -- December 30, 2012
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UNITED COMPANY RUSAL PLC
(Incorporated under the laws of Jersey with limited liability)
(Stock Code: 486)
THE SIGNING OF ANNEX 11 TO THE DIAN-DIAN CONCESSION AGREEMENT WITH THE
REPUBLIC OF GUINEA
United Company RUSAL Plc (the “Company”) (Paris:RUSAL) (Paris:RUAL) announces
that, on 28 December 2012, the Company and the Republic of Guinea have signed
Annex 11 to the Dian-Dian Concession Agreement dated 21 July 2001 (the “Annex
11”) in relation to the Dian-Dian project (which involves a greenfield
bauxite/alumina complex) to be constructed in the Republic of Guinea.
The Company considers the signing of Annex 11 as a significant development in
bauxite mining in the Republic of Guinea. Annex 11 provides for the following
obligations of the Company:
1.Development of the feasibility study and environmental impact assessment
of the bauxite mine with the capacity of up to 9 million tons per annum
and with the possibility of expansion to up to 12 million tons per annum;
construction of the mine with the capacity of 3 million tons per annum;
development of the feasibility study and environmental impact assessment
of the construction of alumina refinery with the capacity of 1.2 million
tons per annum. These obligations are due on 31 December 2015.
2.Expansion of the capacity of the mine to up to 6 million tons per annum
for export of the bauxite. This obligation is due on 31 December 2019.
3.Construction of the alumina refinery with the capacity of 1.2 million tons
per annum. This obligation is due on 31 December 2019.
4.Expansion of the capacity of alumina refinery to up to 2.4 million tons in
the Company´s option, depending on the prevailing market conditions. This
obligation is due on 31 December 2021.
Under the Dian-Dian project, the Company has 100% ownership of the mine and
refinery. Pursuant to Annex 11, the Company has the right to access to the
bauxite resources of over 1 billion tons, as well as the right to mine and
export bauxite and to produce and export alumina. The Government of the
Republic of Guinea has undertaken to provide all necessary assistance,
including assistance in providing access to railroad and sea port
Annex 11 is subject to approval of the Board of Directors of the Company and
the ratification and promulgation in accordance with the laws of the Republic
Annex 11 may or may not proceed as contemplated or at all. Shareholders and
investors are advised to exercise caution when dealing in the securities of
By Order of the board of directors of
United Company RUSAL Plc
31 December 2012
As at the date of this announcement, the executive Directors are Mr. Oleg
Deripaska, Ms. Vera Kurochkina, 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. Christophe
Charlier, Mr. Artem Volynets, Mr. Dmitry Yudin, Mr. Vadim Geraskin, and the
independent non-executive Directors are Mr. Barry Cheung Chun-yuen, 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
United Company RUSAL Plc
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