Glencore declines to renew US$16bn Rusal contract

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Glencore plc has announced that it is not renewing its US$16 billion contract with Russian aluminium titan UC Rusal. In an interview with Bloomberg, Glencore’s CEO Gary Nagle said it will complete the contract it has with Rusal, but, under its new policy of shunning business from Russia, the aluminium smelter can expect no renewal from the commodities…

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