However, as stated by the company, the pending deal is subject to approval from Chinese authorities and consent from HWNM's creditors, enabling Rusal to acquire alumina at a competitive price.
Rusal's shift towards procuring alumina from China directly responds to the export ban imposed by Australia on alumina and bauxite destined for Russia in March 2022. This ban was enacted as part of the sanctions by Western countries against Russia following the Ukraine-Russia geopolitical crisis.
HWNM presently possesses and manages an alumina refinery located in the northern Chinese province of Hebei, with an annual production capacity of 4.8 million tonnes of metallurgical-grade calcined alumina, as reported by Rusal in a submission to the Hong Kong Stock Exchange.
