Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Abu Dhabi-based investment company, Mubadala, has acquired a 2.6pc stake in Russia’s En+, a low-carbon aluminum and hydropower producer.


The value of the deal was not revealed by either party. Moscow-based En+ has a controlling stake in Rusal, the world’s third-largest producer of aluminum after China’s Chinalco and Hongqiao Group.


The 2.6pc stake was sold by Polina Yumasheva, which now has a 2.58pc stake from the previous 5.19pc.


En+ has a total annual production capacity of 3.9mn mt and a 48.1pc stake in Rusal, which operates nine aluminum smelters located across Russia and Sweden. In 2019, the company’s core base located in Siberia in Russia accounted for 93pc of the company’s aluminum output. 

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