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. Last Updated: 07/27/2016

Briton Named to Head SUAL

The country's second-largest aluminum firm, SUAL, which is to join up with a British bank to form a global mining concern, has named an official from mining giant BHP Billiton to head the company that owns its assets.

A SUAL statement said the board of SUAL Holding, the company that manages SUAL's 21 companies involved in the aluminum business, nominated Chris Norval as its president.

Earlier this month, SUAL announced a new international mining company — probably to be called SUAL International — created together with Fleming Family and Partners, a private group owned by the Scottish Fleming banking dynasty.

Directors of the new company said they would like to place some of its capital on a Western stock exchange in 2004.

Norval, who brought Billiton to the London Stock Exchange in a $1.5 billion 1997 initial public offering and was in charge of strategic planning at BHP Billiton, will also become the general director of SUAL International, the official owner of SUAL's assets.

The new company, which will be formed in the next six months, will include all existing SUAL enterprises plus FF&P's ferronickel project in Cuba and tantalum project in Mozambique.

A third partner in the venture will be the private Access Industries (Eurasia) company, which will contribute its coal mining assets in Kazakhstan.

SUAL produces 4.4 million metric tons of bauxite raw material, around two million tons of an intermediate product, alumina, and 840,000 tons of primary aluminum per year.

It says it owns assets worth $1.5 billion.