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By John Helmer, Moscow United Company Rusal, the state aluminium monopoly run by Oleg Deripaska, is selling the Aluminium Smelter Company of Nigeria (Alscon). Only the Rusal announcement to the Hong Kong Stock Exchange (HKEx) doesn’t put a name to the asset. Rusal is also not accepting that the Nigerian courts have already decided the [...]

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By John Helmer, Moscow Georhii Rudko, the chairman of the Ukrainian State Commission for Natural Resources, had nothing to do with the choice of the old British War Office as the venue; nor the timing of his speech, one day before the President of Ukraine and the constitutional order of the country were toppled. But [...]

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By John Helmer, Moscow On March 4 the Chinese and South African governments announced they are preparing an agreement on nuclear cooperation to allow the Chinese to sell $50 billion worth of their nuclear reactor technology for South Africa’s power generation programme. There are four catches. One is that a South African report from the [...]

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By John Helmer, Moscow After almost a year of inconclusive negotiations with a secretive South African group called Nemascore, Evraz, the Russian steelmaker and miner, has announced to the Johannesburg Stock Exchange that negotiations have opened to sell its control stake in Highveld Steel & Vanadium to new buyers. The notice to the exchange last [...]

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By John Helmer, Moscow United Company Rusal, the Russian aluminium monopoly headed by Oleg Deripaska (image right), has won a fresh round in its battle to keep control of its Nigerian aluminium smelter, and ward off claims from a Nigerian-American group whom it defeated in the privatization of the asset almost a decade ago. For [...]

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By John Helmer, Moscow The South African Government has pulled back from the agreement it reached last November with Rosatom, the state nuclear industry corporation, to build nuclear reactors to supply South Africa’s future power needs. Officials at the South African Department of Energy refuse to say to what the Minister of Energy, Ben Martins, [...]

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By John Helmer, Moscow Evraz, the steelmaking group owned by Roman Abramovich (third figure from left) and Alexander Abramov (fourth from left), has just issued a notice to the Johannesburg Stock Exchange that it has been unable to complete the proposed sale of its South African unit, Highveld Steel & Vanadium, by a December 31 [...]

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By John Helmer, Moscow In the world of mules there are no rules (so Ogden Nash wrote last century). In selling $50 billion worth of nuclear reactors, there are a few. Sergei Kirienko, the prime minister in charge of the Russian government’s default on its treasury bonds and other financial destruction in 1998, is no [...]

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By John Helmer, Moscow Last week, on October 7, United Company Rusal – the state aluminium monoply managed by Oleg Deripaska (right) — was due in the Nigerian High Court at Abuja to start trial on the claim by a Nigerian-American group, BFIG, for the handover of the Aluminium Smelter Company of Nigeria (Alscon). BFIG [...]

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By John Helmer, Moscow A court in Lagos, Nigeria, today dismissed all charges of arms smuggling and illegal entry for the crew of the Russian security tender, Myre Seadiver. Seven crewmen, who have remained on bail at the Russian Embassy in Lagos since the last hearing in July, will be free to leave Nigeria and [...]