UC Rusal has set up a dedicated work team to attract Chinese investment and has signed a Memorandum of Understanding with the Chinese Non-Ferrous Metals Industry Association.

In Siberia, a ton of alumina costs US$1600 per tonne to produce as opposed to US$2,250 in China’s Henan province. Electricity prices are cheap too.

Electricity accounts for 45% of total production costs and 90% of Chinese smelters losing money due to falling metal prices.