OREANDA-NEWS. November 29, 2011. UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, MICEX: RUALR, RTS: RUALR), the world's largest aluminium producer, is pleased to report on its senior management teams’ recent official visit to the Republic of Sierra Leone, to explore new business development opportunities within the country.

During the visit, the delegation discussed the possibility of the Company's participation in  bauxite production, developing its transport infrastructure  and the estimated raw material and energy potential of the country. In addition, it entered into a dialogue with the authorities of the Republic of Sierra Leone, responsible for developing the natural resources sector and attracting foreign investment in the country.

RUSAL’s delegation met with the President of the Republic of Sierra Leone, E. Koroma, and joined constructive meetings with the country's Vice President, Ministry of Mineral Resources and the Ministry of Foreign Affairs.

As a result of the visit, RUSAL has expressed its intention to undertake a feasibility study considering future bauxite mining projects, as well as the development of necessary transport infrastructure in the Republic of Sierra Leone

The President of the Republic of Sierra Leone, E. Koroma, confirmed that RUSAL's participation in the development of the country’s natural resources was of significant interest to its economic development and in line with its aim to attract world class foreign investors.

"Sierra Leone is of great interest to RUSAL due to its large reserves of bauxite, the key raw material used for the production of alumina and aluminum. The country currently has a favourable investment climate, which is especially important for foreign partners. We look forward to continuing a constructive dialogue with the Government of the Republic and a mutually beneficial relationship in the future that will allow RUSAL to build up its presence in Africa, as the Republic of Sierra Leone strengthens its own economic position and social stability in the region", said Yakov Itskov, Director of International Alumina Division of UC RUSAL.

The parties intend to develop a Memorandum of Understanding, to define RUSAL's future participation in the development of Sierra Leone’s mineral resources and parties' mutual obligations to ensure favourable conditions for the Company's investments in the mining industry of the country.

The parties will begin working on the concession agreement shortly.