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A1 will Create a Joint Venture in Cuba to Produce Nickel from Tailings.

September 24, 2010. TAG: Investment

A pilot unit to test the technology of metals extraction from tailings, the residue from ore processing, will be launched in 2010 near the city of Nicaro, where 100 million tonnes of tailings are located, A1's Managing Director Alexei Mikhailovsky said in a statement. "There is not only nickel there, there is also cobalt, iron and chrome. Our task is to extract as much metal from the tailings as possible and as efficiently as possible," he said, adding that the pilot unit would show which metals could be most efficiently extracted.

"We think not only about the maximum extraction of metals, but also about economic efficiency. Thus we will design large facilities on the basis of the pilot unit. It should be a large-scale production," Mikhailovsky said.

A1, formerly known as Alfa Eco, has a history of cooperation with Cuba. In 1990s it participated in an intergovernmental sugar-for-oil barter deal supplying to Havana over 1.5 million tonnes of oil in exchange for 300,000-500,000 tonnes of raw sugar a year.

 

A1

A1 is one of the leading players on the investment market in Russia and the CIS making equity investments in various industries, pursuing the interests of its shareholders, clients and partners. A1 focuses on investment projects of two types: special situations and growth strategies. Alfa-Bank (Russia), TNK, VimpelCom, Perekrestok and Rosvodokanal Group were originally A1 projects that later became strategic businesses for Alfa Group as well as core companies for the wider Russian economy. A1’s long-term interests are aimed at establishing strong and competitive businesses, producing modern and very high quality goods and services to satisfy Russia’s growing demand, and developing efficient organizational and management systems.