Petrobruses is buying aluminium from Russia in a deal valued at $2,874m.
The acquisition of aluminum is part of a broader deal to diversify Petrobrass’ portfolio of minerals and other commodities, the company said in a statement.
“We are confident that we can leverage the strengths of our assets to make the most of our global footprint and continue to make our customers more competitive,” Petrobrades CEO and Chairman Eduardo Santos said in the statement.
The deal has been reported in the Brazilian newspaper Folha de Sao Paulo, which cited a source close to the matter.
A spokesman for Petrobracs declined to comment.
Russia’s Rosneft said last month that it would buy Petrobrasca for $1.9bn.
The company declined to disclose the price.
The Petrobrascas purchase is a sign of the ongoing global growth of Russian companies, especially in the energy sector.
The company, which makes a range of commodities, including oil and gas, is also the world’s biggest producer of aluminum.
The Russian company has been working on plans to diversified its portfolio in recent years, especially following the collapse of the ruble in 2014.
Its aluminium exploration company has drilled at least 16 offshore reserves in the past four years, and the company is also developing new oil and natural gas reserves.
Last year, Petrobrases’ share price was hit by a $10bn write-down.