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Nigeria and Rusal Settle Battle Over Aluminum Smelter Ownership

  • Alscon to resume operations within six months: Kayode Fayemi
  • Rusal says it retains 85% ownership of smelter, Nigeria 15%
Aluminium Production In Russia By United Co. Rusal Plc

Photographer: Andrey Rudakov/Bloomberg

Nigeria reached an out-of-court settlement with United Co. Rusal Plc over the sale of the Aluminium Smelter Co. of Nigeria, ending a decade long ownership dispute over the company.

The parties agreed Alscon would resume operations in six months as part of the settlement, Kayode Fayemi, Minister of Mines and Steel Development, told reporters in Abuja, the capital. The smelter had been idled since 2012.