[13] 2013: As relationship between the CEAC and the Government of Montenegro became increasingly sour, there was an ongoing debate within the country about the fate of the aluminum producer.
[15] 2016: The first half of the first stage of the Boguchansk aluminium smelter (as part of the BEMO 50/50 joint venture between UC RUSAL and RusHydro) began operations with a production capacity of 149 thousand tonnes.
[17] 2021: En+ Group’s Metals segment RUSAL announced its proposal to demerge its high carbon assets and to change its name to AL+.
[18] Mubadala, a state-owned investment company in Abu Dhabi, purchased a 2.6% stake in En+ Group from Polina Yumasheva, the former wife of Oleg Deripaska.
[22] On April 27, the company completed a regulatory filing with the London Stock Exchange stating the Deripaska had agreed to leave the board and reduce his ownership interest to less than 50%.
[23] On May 1, 2018 the US Department of the Treasury loosened the sanctions to allow transactions necessary to divest or transfer debt, equity or other holdings in EN+ Group and United Company RUSAL PLC.
[24] The following month, four board members, Gulzhan Moldazhanova, Igor Makarov, Olga Mashkovskaya and Anton Vishnevskiy, resigned as part of the Barker restructuring plan.
[25] On July 21, 2018 US Treasury Secretary Steven Mnuchin said in an interview that the objective was not to put the company out of business, but to limit Oleg Deripaska.
[27] In the announcement lifting the sanctions, Mnuchin said “These companies have committed to significantly diminish Deripaska’s ownership and sever his control,” and noted that the companies would be subject to ongoing compliance and regulation.”[21] Under the arrangement to lift U.S. sanctions, new independent directors would be appointed to the boards EN+ and Rusal and the companies agreed to not act in any manner that “directly or indirectly provides Deripaska with the ability to exercise a controlling influence over management or policies” of EN+ or Rusal.” Deripaska’s voting interests were reduced to 35%.
[30] The high carbon assets will include five aluminum smelters, fours alumina refineries, and two bauxite mines.
[32] The net-zero plan, announced in January 2021, would reduce the company’s greenhouse gas emissions by 35% by 2030 and put EN+ in compliance with the Paris Agreement and the European Green Deal.
[34] The plant, located in Siberia, runs exclusively on hydropower and is expected to produce 428,000 metric tons of aluminum each year.
In addition to Chairman Lord Barker, the board has four board seats appointed by Deripaska[28] and eight independent directors: Christopher Burnham, Andrey Sharonov, Carl Hughes, Joan MacNaughton, Timur Valiev, Zhanna Fokina, Thurgood Marshall, Audrey Yanovsky, Vadim Geraskin, and Elena Nesvetaeva.
[42] As part of this clean energy modernization effort, the company began replacing hydraulic units at its Bratsk hydropower plant.
[43] Responding to a report that 67 percent of consumers favored carbon-labelling of products,[44] EN+ group chairman Lord Barker went on record suggesting that manufacturers of cans and containers made from green aluminum may respond by labeling the source of the raw material used to produce packaging for their products.
[54] The Group's power assets are predominantly located in Siberia, where it has a 37.6% share of total installed electricity capacity in the region.
These plants provide sustainable, low carbon and low-cost power for Russian industrial facilities, including Metals segment's core aluminium smelters.