Higher prices returned the Russian-owned Aughinish Alumina company based in Limerick to profitability in 2024, new accounts show. Underlining the contribution Aughinish Alumina makes to the mid-west region, staff costs in 2024 increased from $52.42m to $55.4m. While the 2024 financial statements for UC Rusal record a profit and net current assets, its 2025 financial statements recorded a loss and net current liabilities. Neither Aughinish Alumina nor UC Rusal are subject to UK, EU or US sanctions that were put in place after Russia’s invasion of Ukraine, and designed to limit its military capabilities. Earlier this week Taoiseach Micheál Martin said he was “concerned” about media reports that raw materials produced at Aughinish Alumina were ultimately supplying “the Russian war effort”.

Source: Irish Independent April 04, 2026 01:05 UTC