The plan is to re-activate its frozen assets once the price of aluminium exceeds $2,400 per tonne, which will make production profitable, according to Rusal's head honcho, Oleg Deripaska.

Deripaska believes that the price of aluminium will remain at $1,800 per tonne at the end of the year.

A report in the Moscow Times says that 'the sharp decline of metal, coal and other commodities prices has led to a $34.6% decline in the combined market capitalisation of mining companies since the beginning of the year'.

According to the newspaper, Severstal lost 33.6% of its value, Norilsk Nickel dropped 34.6% and Ervaz fell 61% over the course of the economic slowdown.