Latest news with #Rusal
The Journal
24-07-2025
- Business
- The Journal
Russian-owned alumina refinery in Limerick suspended from energy market
MINISTER FOR ENTERPRISE Peter Burke has said that the government is working 'very closely' with a Russian-owned alumina refinery in Co Limerick following its suspension from the energy market. Aughinish Alumina is Europe's largest alumina refinery and employs 450 people on its 222-hectare site, located close to the Shannon-estuary towns of Foynes and Askeaton. It is owned by Russian metals company Rusal. Eirgrid has confirmed that the company has been suspended from the ex-ante energy market - which provides day-ahead and intraday markets for the buying and selling of wholesale electricity by generators, supply companies and traders. 'Aughinish Alumina have not been taken offline and remain connected to the transmission system,' a spokesperson for Eirgrid said. 'EirGrid can confirm that Aughinish Alumina have been suspended from the ex-ante market in line with a decision by ECC (European Commodity Clearing). EirGrid are currently reviewing the implications of this development.' Speaking to reporters today, the Enterprise Minister said the decision was taken in a sovereign court in Italy. Peter Burke said his department, the Department of Energy, Eirgrid and the Commission for Regulation of Utilities (CRU) are engaging with the company to 'try and find a pathway for the company'. 'They're a very significant employer, and one that we are committed to working very closely with,' he said. 'Obviously, there are sanctions that we have to adhere to in relation to the ownership structure, as well as its participation now subject to that case in the energy market.' Asked if jobs were under threat at the plant, Burke said: 'We're working with the company, and that's the key thing. Advertisement Aerial view of Aughinish Alumina refinery on the Shannon, Co Limerick. Alamy Stock Photo Alamy Stock Photo 'We need to ensure that there is a pathway. It's a very significant company. It's a heavily export-oriented company from the Irish market, and obviously supplies a significant amount of power brought into the grid and in terms of its utilisation.' Burke said he understands that the company is still fully operational, but that 'they are in discussion with Eirgrid and the CRU to find a pathway'. While the Aughinish Alumina plant has no direct link to Russia's military invasion of Ukraine, it is owned by Russian metals company Rusal, which was co-founded by Oleg Deripaska. Deripaska, who is still a shareholder in Rusal, is an industrialist who is reported to have had close ties to Russia president Vladimir Putin. In 2018, he was placed on a US sanctions list and the UK government also announced sanctions against the oligarch in 2022 following the Russian invasion of Ukraine. The businessman is well-connected in Russian politics and business, and was pictured earlier this month at the Kremlin in Moscow for a ceremony ahead of World War II commemorations. According to reports, pre-tax losses at Aughinish Alumina in 2023 totalled €108 million, down from losses of €141 million the previous year. Earlier this month, a bomb was discovered attached to a fuel tank that services the refinery . The bomb is believed to have included a battery-timed mechanism so that it could be detonated long after the perpetrators had left the area. It's understood that up to 100 staff at the refinery were unable to leave the plant while a 350-metre security cordon was in place at the scene for several hours. The area where the bomb was found is located close to a publicly accessible nature walking trail. Gardaí investigating the incident are examining many lines of enquiry, including the possibility that the bomb may have been a direct response to Russian missile attacks in Kyiv carried out at the time. In February 2022 Gardaí launched an investigation into criminal damage at the entrance to Aughinish Alumina which was daubed with slogans in red paint, similar in nature to protests at Russian embassies around the world at Russia's invasion of Ukraine. Readers like you are keeping these stories free for everyone... A mix of advertising and supporting contributions helps keep paywalls away from valuable information like this article. Over 5,000 readers like you have already stepped up and support us with a monthly payment or a once-off donation. Learn More Support The Journal
BreakingNews.ie
08-07-2025
- Politics
- BreakingNews.ie
Gardaí questioning man (40s) in connection with discovery of 'viable' bomb in Limerick
Gardaí were questioning a man in his 40s in connection with the discovery of viable bombs in Limerick and the north of Ireland last Friday. Reliable sources said the man was being questioned by gardaí as part of an ongoing cross border Garda - PSNI (Police Service of Northern Ireland) investigation. Advertisement One of the bombs was discovered close to the large alumina refinery Aughinish Alumina, located between Foynes and Askeaton, Co Limerick. The Rusal alumina giant, which owns the plant, had not responded to media queries sent to it last Sunday. It's understood that up to 100 of the 450 staff employed at the Rusal-owned Aughinish refinery were unable to leave the plant as a 350-metre security cordon was put in place allowing gardaí and members of the Defence Forces respond at the scene for several hours between Friday night and Saturday morning. It's understood that gardaí are no longer investigating the possibility that the bomb could have been a reaction to Russia's largest bombarded on Ukraine's capital Kyiv, last Thursday night. Advertisement A spokesman for the Irish Defence Forces confirmed the bomb was 'viable', meaning it was capable of detonating and causing injuries or death. A statement provided by the Defence Forces read: 'On Friday evening, bomb experts from the Defence Forces Explosive Ordnance Disposal (EOD) team responded to a request for assistance from An Garda Síochána (AGS) in relation to a suspect device in the area of Askeaton, Co. Limerick.' 'Following an assessment, the EOD team confirmed the device was viable, and it was rendered safe. The EOD Team then handed the scene over to AGS.'. The army EOD unit were on scene for a total of six hours, from arrival on scene at 6.58pm, Friday, to departure at 01.04am, Saturday 5th July. Advertisement Gardaí said they were 'alerted' to the bomb after its discovery at approximately 3.30pm, last Friday, 'and a cordon was established' until the scene was declared safe. The area where the bomb was found is located close to a publicly accessible nature walking trail. In February 2022, gardaí launched an investigation into criminal damage at the entrance to Aughinish Alumina which was daubed with slogans in red paint, similar in nature to paint attacks at Russian embassies around the world in protest at Russia's invasion of Ukraine. Other bombs were found elsewhere in the north west of Ireland. Advertisement A Garda statement released to the media on Tuesday, said:'As part of the investigation into the discovery of a number of attempted improvised explosive devices (IEDs) in the Northeast and Southwest of the country, a male (40s) was arrested on Sunday, 6th July 2025.' 'The male was arrested during an operation on Sunday evening involving National, Regional and local Garda units in County Monaghan.' Gardaí said the suspect was detained under Section 30 of the Offences Against the State Act, 1939 at a Garda Station in the North Western Region. 'An Garda Síochána continues to liaise with our colleagues in the PSNI in relation to this investigation.'
Irish Times
06-07-2025
- Irish Times
Gardai probe bomb found at Russian-owned refinery in Limerick
Gardaí are investigating the discovery of a 'viable' bomb near a Russian-owned refinery in Co Limerick. The device was found on Friday afternoon, attached to a fuel tank that services the Aughinish Alumina refinery sports and social club building located close to the Shannon-estuary towns of Foynes and Askeaton. A spokesman for the Irish Defence Forces confirmed the bomb was viable, meaning it was capable of detonating and causing injuries or death. The device is believed to have included a battery-timed mechanism so that it could be detonated long after the perpetrators had left the area. READ MORE It is understood that up to 100 staff at the Rusal-owned facility were unable to leave while a 350-metre security cordon was in place at the scene for several hours between Friday night and Saturday morning. A garda spokeswoman said local gardaí were alerted after a 'suspect device' was discovered 'at a premises near Foynes, at approximately 3.30pm, Friday, and a cordon was established'. A statement provided by the Defence Forces said: 'On Friday evening, bomb experts from the Defence Forces Explosive Ordnance Disposal (EOD) team responded to a request for assistance from An Garda Síochána in relation to a suspect device in the area of Askeaton, Co. Limerick. 'Following an assessment, the EOD team confirmed the device was viable, and it was rendered safe. The EOD Team then handed the scene over to AGS.' The army EOD unit was on scene for a total of six hours, from its arrival at 6.58pm on Friday to just after 1am on Saturday. Security sources said CCTV will play a central role in the ongoing investigation into who was behind the bomb threat. The area around and inside the alumina refinery is heavily populated with security cameras, and gardaí hope to secure footage that may assist them in tracking and apprehending those behind the bomb. A garda spokeswoman confirmed on Sunday that the scene had been declared safe. The area where the bomb was found was located close to a publicly accessible nature walking trail. Following an assessment, the EOD team confirmed the device was viable, and it was rendered safe A source said investigating gardaí were examining one of many lines of inquiry, including the possibility that the bomb may have been in response to Russian missile attacks in Kyiv on Thursday night. While the Aughinish Alumina plant has no direct link to Russia's military invasion of Ukraine, it is owned by Russian aluminium giant Rusal, and one of its significant shareholders is Russian oligarch Oleg Deripaska . Mr Deripaska was previously hit with UK government sanctions including a full asset freeze and travel ban in 2022 following Russia's invasion of Ukraine. However, the Irish government has refused to support any potential sanctioning of Rusal's Askeaton plant. The Kremlin stated in April 2024 that UK and US sanctions imposed on Russian metals would have no impact on its ability to supply aluminium to world markets, and would only serve to hurt countries imposing sanctions. In February 2022, gardaí launched an investigation into criminal damage at the entrance to Aughinish Alumina which was daubed with slogans in red paint, similar in nature to protests at Russian embassies around the world. Aughinish Alumina, which employs 450 people at the Askeaton refinery, has been contacted for comment.
Russia Today
01-07-2025
- Business
- Russia Today
China boosting purchases of Russian metals
Beijing has increased purchases of Russian metals as Moscow pivots toward Asia amid Western sanctions, Bloomberg has reported, citing customs data. The US and its allies have been targeting Russian base metals in an effort to cut the country's revenues amid the Ukraine conflict. China has become a key buyer of Russian commodities, with overall trade between the two countries hitting historic highs last year, exceeding $240 billion. Imports of Russian aluminum jumped nearly 56% year-on-year to almost one million tons between January and May, while copper purchases surged 66% and nickel imports more than doubled, according to Trade Data Monitor, cited by the outlet on Monday. The report noted that while Russian producers Rusal and Norilsk Nickel are not under Western sanctions, their access to global trading platforms has been restricted. In April 2024, the US and UK barred the London Metal Exchange (LME) and Chicago Mercantile Exchange (CME) from accepting new Russian-origin aluminum, copper, and nickel and barred imports of the metals. Washington had earlier imposed 200% duties on Russian-made aluminum products, while Canada enacted a full ban on imports of Russian aluminum and steel. Earlier this year, the EU introduced a phased ban on Russian aluminum, setting a 275,000-ton quota that runs through February 2026. The Kremlin has condemned the sanctions as 'illegal,' warning they will backfire on those imposing them. The measures triggered spikes in global metal prices, with aluminum seeing its biggest surge on the LME in decades. Moscow has redirected exports to Asia and the Middle East amid the shift away from Western markets. People familiar with the matter told Bloomberg that Norilsk Nickel began boosting sales to China in the second half of 2024. The company is also reportedly working with a unit of Chinese gold giant Shandong Gold to expand copper cathode shipments to the country. Sanctioned producers such as Russian Copper and UMCC may also be shipping metal to China, the sources said. Norilsk Nickel's chief executive, Vladimir Potanin, has said the company plans to relocate some copper smelting operations to China to safeguard exports from sanctions pressure on financial transactions.
Mint
30-06-2025
- Business
- Mint
Russia Base Metals Sales to China Surge, Signaling Deep Reliance
Russian base metals sales to China surged in the first five months of 2025, underscoring its economic dependence on its Asian neighbor even as the country seeks to diversify trade. Russian aluminum sales to China through May jumped by almost 56% year-on-year to nearly 1 million tons, copper sales advanced 66%, while nickel imports more than doubled, according to Trade Data Monitor, which sources information from China's customs office. China has emerged as a key partner for Moscow, with over $240 billion worth of trade last year, replacing Europe, after the Kremlin sent troops into Ukraine in 2022, resulting in international sanctions and trade restrictions. Russia is a major producer of aluminum, copper, and nickel. Although its two top producers — MMC Norilsk Nickel PJSC and United Co. Rusal International PJSC — are not sanctioned by the US and its allies, new Russian metal supplies can no longer be delivered to the London Metal Exchange and the Chicago Mercantile Exchange and are subject to some trade restrictions. Earlier this year, the European Union approved a gradual ban on aluminum imports. The bloc has set a 275,000-ton import quota, that will run through Feb. 2026. For Rusal, the surge in sales to China this year reflects the clearance of stockpiles built up due to rail bottlenecks on the Russian side, according to a person familiar with the matter. Full-year shipments are still expected to total about 1.5 million tons, the person said. Read: Russia's Wartime Economic Woes Slow Railway Trade With China Norilsk Nickel began ramping up sales to China in the second half of 2024, according to people familiar with the matter. The Russian miner is working with a unit of Shandong Gold to boost copper cathode shipments to the country, they said. Aside from Norilsk Nickel, Russian Copper Co. and UMCC, both sanctioned, may also still ship to China. Not all the volumes reflected in the customs data represent direct sales by Russian copper and nickel producers, as some appear to be trader-led transactions involving previously produced metal, one of the people said. Glencore Plc has been buying Russian copper on the LME with the aim of delivering it into China as a response to supply squeeze in the world's largest copper consumer, Bloomberg reported earlier. The press services of Norilsk Nickel and Rusal didn't comment and a request for comment to Shandong Gold wasn't immediately answered outside of normal working hours. This article was generated from an automated news agency feed without modifications to text.
