Rusal of Russia will gradually purchase a 50% share in the owner of an alumina refinery in India.

In a move that might lessen its need on outside raw resources, Russian aluminum giant Rusal announced Friday that it has agreed to pay $243.75 million for a 26% share in an Indian alumina refinery owner, with the possibility of acquiring up to 50% in phases. Although Western sanctions against Moscow over the conflict in Ukraine have not specifically targeted Rusal, the world's largest producer of aluminum outside of China, the company lost almost 40% of its alumina supplies when Australia stopped exporting to Russia and Rusal closed its alumina plant in Ukraine. Rusal reduced the shortfall by increasing its imports of raw materials from China, India, and Kazakhstan to make up for declining alumina volumes. In October 2023, the company also bought a 30% share in a Chinese firm. Rusal claims that this "puts serious pressure on production margins" because, as of November 2024, it was still purchasing over one-third of the alumina required for the production of aluminum at exchange rates on international markets. According to a release, Rusal agreed to purchase up to 50% of Pioneer Aluminium Industries Limited's share capital in three phases through a wholly-owned subsidiary.