ERG intends to supply Rusal with 800,000 tonnes of aluminium oxide in 2022 - ERG board chairman

KHROMTAU. Aug 19 (Interfax) - Eurasian Resources Group (ERG) plans to supply Rusal with about 800,000 tonnes of aluminium oxide in 2022, Alexander Mashkevich, ERG chairman of the board of directors, said at a press conference in Khromtau, Kazakhstan, on Friday.

"We continue deliveries to Rusal, because Rusal is not under sanctions, and we continue to supply aluminium oxide in full. We will supply about 800,000 tonnes of aluminium oxide this year," Mashkevich said at the press conference.

Supplies to Rusal are to continue in 2023 as per the plans.

"[ERG in 2023 plans to produce] 1.5 million tonnes of aluminium oxide. We use 500,000 tonnes ourselves, and we supply about 200,000 tonnes to the Tajik aluminum plant, meaning that we are also continuing to supply the rest to Rusal. We have already signed contracts for 2023, and we have a date until January 1, 2024. We will supply under all circumstances," Mashkevich said.

According to the group, ERG produced 1.3 million tonnes of aluminium oxide in 2021 and 706,000 tonnes in the first half of 2022.

Mashkevich added that ERG has not yet faced any complications amid the process of so-called de-monopolizing the economy that has begun in Kazakhstan.

"There have not been any complications thus far - no problems. We are operating and everything is in order so far," Mashkevich said when answering whether the company has had any complications regarding the process of "de-monopolization" occurring in the country, and the re-examination of some stages of privatization.

Following the riots in January, Kazakh President Kassym-Jomart Tokayev announced the implementation of large-scale reforms in the country, including the de-monopolization of the economy. Tokayev promised that, "the enormous wealth accumulated by the oligarchs and their monopolies will be redirected to the benefit of the working and middle classes."