MOSCOW, September 11 (RIA Novosti) - A Guinean court has overturned a deal by United Co. Rusal, the world's biggest aluminum producer, to buy the Friguia bauxite and alumina complex, drawing an angry reaction from Moscow.
The Guinean government has told Rusal, controlled by Kremlin-friendly billionaire Oleg Deripaska, to return the Friguia facility to the government.
The Russian Foreign Ministry said the court ruling was an "unlawful expropriation of property."
It said in a statement that the claims against the company were unsubstantiated, while "the Guinean authorities have, in effect, made an attempt to expropriate Rusal's property through the judicial process."
It did not provide any details of the court ruling.
Rusal has protested the move, maintaining that it purchased Friguia in good faith and in compliance with Guinean laws.
The Russian company bought a 100% stake in the Friguia refinery from the state in 2006.
"We consider the plant to be our legitimate property," Rusal said.
Guinea is the world's biggest exporter of bauxite, which is refined into alumina that is then processed into aluminum.
Friguia, one of Guinea's largest employers, produces about 52,000 metric tons of alumina a month.
Rusal accounts for 12% and 15% of global aluminum and alumina production, respectively. The company markets its products to 70 countries and employs a total 100,000 people in almost 20 countries.
