SHANGHAI, Jul. 20 (SMM) – Rusal has entered into an agreement to sell 100% stake in its Alumina Partners of Jamaica (Alpart) to the Chinese state-owned industrial group, Jiuquan Iron & Steel (Group) Co. Ltd. (JISCO), the company said in its website yesterday.
The deal, which has received the required approval by Rusal’s Board of Directors, is subject to approvals by the Government of Jamaica and by a number of state bodies in China.
Alpart is a large production complex in Jamaica, which uses its own bauxite mines to feed alumina production.
JISCO, whose main business is steel, is also a large aluminum producer in China.
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