Moscow, 25 February 2014 – UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, Moscow Exchange: RUALR/RUALRS), a leading, global aluminium producer, today announced the signing of a Memorandum of Understanding (MOU) with PT Arbaya Energi (part of Satmarindo Group) to enter into a strategic partnership in the exploration and mining of bauxite and production of alumina in West Kalimantan, Indonesia.
The agreement was inked in Jakarta by Oleg Deripaska, CEO of UC RUSAL and Suryo B. Sulisto, Chairman of PT Arbaya Energi, on the field of the Intergovernmental Russian Indonesian Joint Commission on Trade, Economic and Technical Cooperation.
Under the terms of the MOU the two parties will enter into a strategic agreement to work together to develop the appropriate resources and infrastructure investment. The concrete projects are to be identified in due course and agreed by both companies.
Indonesia's mining industry has seen explosive growth in recent years as the country is now the world's third largest bauxite producer.
Oleg Deripaska, CEO of UC RUSAL said: "We are pleased to have this opportunity to partner with PT Arbaya Energi in the exploration and mining of bauxite and production of alumina in Indonesia. We have long stated our desire to expand into this important Southeast Asian market given its increasing prominence on the global mining stage. It is a significant milestone for our business globally".
Suryo B. Sulisto, Chairman of PT Arbaya Energi said: "We are very proud and pleased to partner with UC RUSAL, the world's leading aluminium company. This partnership will elevate Indonesia's position on the global stage, while supporting the government's policies and efforts to build a national world class processing industry".
About Arbaya Energi
Arbaya Energi is a leading Indonesian energy and natural resources company. As part of the Satmarindo Group it currently operates in the coal and nickel mining industry while aggressively expanding its business to diversify its minerals portfolio. The company is based in Jakarta, Indonesia.