Rusal and Glencore have signed a long-term pact that will see the Russian aluminum-maker supply Glencore with aluminum.
Rusal, which produced 3.8mn mt of aluminum last year, will supply Glencore with up to 6.9mn mt through the duration of the contract that is slated to run through 2024, with an option to extend it by a year. The volume includes 344,760mt this year and 1.6mn mt annually for the following four years.
The deal is reportedly worth $16.3bn. Rusal is the world’s largest aluminum producer outside of China.