Russian $30 billion aluminum merger creates world leader

Russia's leading aluminum firm, RUSAL, will take over its main competitor SUAL and the aluminum industry assets of Glencore to create a world market leader. The transaction, which may be finalized by October and create a company worth around $30 billion, would confirm Russia's renaissance as a world powerhouse in energy and strategic commodities after the post-Soviet economic collapse.

"The new company will be the world's number one aluminum producer with output of 4 million tonnes per year, and also the top alumina producer with output of 11 million tonnes," a source said. Putin has capitalized on booming oil and commodities prices as a means to recover Russia's lost status as a great power. A national aluminum champion would join state-controlled gas monopoly Gazprom in projecting power abroad.

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