April 17 – The Federal Anti-Monopoly Service (FAS) has given its permission for Rusal Magnesium Limited to acquire 50% of the voting shares in the Solikamsk Magnesium Plant (SMZ) (RTS: MGNZ) in Perm region.

Russian Aluminium (RUSAL) said in the fall of 2005 that it had bought 38% of SMZ. RUSAL reportedly bought shares from Switzerland's Minmet Financing Company, among other SMZ shareholders. Minmet owned 32% of SMZ prior to the deal, and the FTK company owned 5.5%. Local fertilizer producer Silvinit (RTS: SILV) owns 56% of SMZ.

The Solikamsk plant, Russia's second magnesium producer, exports nearly 100% of the rare-earth products and about 60% of the magnesium and magnesium alloys it produces. It delivered 20,253 tonnes of magnesium and alloys in 2006.

Magnesium is used to make aluminium alloys.

See our latest Magnesium prices