Russian mining firm keen on partnership in bauxite sector

NEW DELHI: Russian metal and mining major Basic Eelement has evinced interest in forging partnership for developing bauxite-related sector in India.

Chairman of the supervisory board of Basic Element, Oleg Deripaska, expressed company's interest at a meeting with Steel and Mines Minister Narendra Singh Tomar yesterday, an official statement said today.

The company intends to explore partnership potential in developing bauxite related sector in India, the release said.

"Deripaska principally expressed interest in associating with Indian aluminium industry by developing high-end and sophisticated downstream facilities," it said.

Basic Element is the leading player in the field of metal, mining, hydropower and nuclear energy in Russia.

"Aluminium is the metal of future, and we are keen to help Indian industry migrate from export of raw bauxite and alumina, to the other end of the value spectrum," Deripaska said.

"We see place for us in smelting, power generation, and in creating downstream facilities such as construction material and packaging," he added.