The Russell Aluminum Sanctions Are Approaching, Threatening The Continued Operation Of The Aughinish Aluminum Smelter

- Oct 31, 2018-

SMM, October 31: Senior executives at the Aughinish aluminium smelter in Ireland warned last week that the Trump administration’s sanctions against its parent company, Rusal, threatened the plant’s continued operations. The smelter is part of Limerick Refined Alumina Co., Ltd. (LARL), and company executives stated in the company's paper that since the US Treasury's Office of Foreign Assets Control (OFAC) imposed sanctions on its parent company, RUSAL, in April, The company has been in a state of tension. So far, the company has stated that it continues to operate at full capacity, with some alumina sales prices soaring due to sanctions. Limerick reported a pre-tax profit of $50.6 million last year, a reversal from 2016. The company supplies one-third of the alumina in the European market through the Aughinish aluminium smelter, and the company is still “trying to find a solution to remove it from the list of sanctioned entities.” According to Limerick According to the directors, the sanctions reflect a material uncertainty. May cast a shadow over the company's ability to continue to operate. But Limerick executives also said that even if OFAC's sanctions against RUSAL were not lifted, the company would have other alternatives, but no further details on whether it reached an agreement with OFAC.