Latest update September 24th, 2026 10:31 AM
RUSAL looking for buyers for Guyana assets
(Kaieteur News) – Russian aluminium giant RUSAL is reportedly exploring the sale of its assets in Guyana and Jamaica, as the company considers reshaping its operations outside Russia, according to a Bloomberg report published on Tuesday.
Bloomberg, citing people familiar with the matter, reported that RUSAL has begun sounding out potential buyers for its interests in the two Caribbean countries. The discussions are reportedly at an early stage, and there is no certainty that a transaction will materialise.
RUSAL’s Guyana interests are centred on the Bauxite Company of Guyana Inc. (BCGI), in which the Russian company holds a 90 percent stake, while the Government of Guyana owns the remaining 10 percent. BCGI has an annual production capacity of about 1.7 million tonnes, according to RUSAL’s 2025 annual report, but production was recorded at zero because the company has been out of active production since 2020, when it suspended operations in the Berbice River following prolonged industrial unrest and terminated hundreds of workers. RUSAL had cited “industrial unrest, including arson and other destruction of corporate property, and blocking of the river” as the main factors for the suspension of their operations.
Some of RUSAL’s equipment at the Kurubuka site.
The company’s withdrawal left BCGI’s mining operations dormant. However, in January this year, Finance Minister Dr. Ashni Singh announced that approval had been granted for the restart of bauxite operations on the Berbice River, although the government did not identify the operator at the time. Production was expected to resume towards the end of 2027 after rehabilitation of critical systems. RUSAL’s Guyana holdings also include licences covering bauxite deposits in areas including Linden, Kwakwani and Ituni. The potential sale therefore comes at an important juncture for Guyana’s bauxite industry, with the country seeking to revive production while attracting investment into its broader mining sector.
RUSAL also owns the Windalco alumina operations in Jamaica. Its 2025 annual report lists Windalco as having annual capacity of four million tonnes, with utilisation at 39 percent in 2025. The reported move comes against a broader backdrop of pressure on Russian metals companies from international restrictions and changing global markets. Bloomberg reported that RUSAL declined to comment on the potential transactions. The company’s reported approach to potential buyers remains exploratory, meaning there is no indication yet of who might acquire the Guyana assets, whether the Government would be involved in any transaction, or whether a sale will ultimately be completed.
Rusal entered Guyana back in 2004 when it reached an agreement with the Government of Guyana to privatise the country’s leading miner Aroaima Mining Company (AMC). Rusal’s subsidiary Bauxite Company of Guyana (BCGI) acquired the majority of AMC’s assets and at the time invested US$20mn to develop and expand the company. BCGI was launched in December 2004 as part of Rusal’s memorandum of understanding with the government of Guyana to revitalise the country’s bauxite industry. Rusal holds a 90% stake in BCGI, while the government of Guyana is the owner of the remaining 10%.
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