RUSAL backs bigger Kremlin role at Norilsk

By Dmitry Zhdannikov and Robin Paxton MOSCOW (Reuters) - United Company RUSAL is lobbying for the Kremlin to replace rival shareholder Vladimir Potanin as the power behind Norilsk Nickel (GMKN.MM: ), as the world's largest nickel miner prepares to elect a new board of directors. UC RUSAL, a 25 percent shareholder in Norilsk, said on Wednesday it wanted four government officials to join the board at Norilsk, giving the state a bigger say in the running of the mining giant, whose value has crumbled in the last six months. "It will ensure the company can overcome a crisis in management, improve its financial situation, business development and the rise in value of Norilsk in the interests of all shareholders," UC RUSAL Chairman Viktor Vekselberg said. UC RUSAL, majority owned by billionaire Oleg Deripaska, is among the first... [read full story]                    

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