Aughinish Alumina back in red after prices slump

The largest alumina refinery in Europe, Aughinish Alumina on the Shannon estuary, went back into the red last year.

Limerick Alumina Refining Ltd posted a pre-tax loss of $40.5m (€34m) as revenues slumped 24% to $520m due to a drop in the price of alumina worldwide.

Limerick Alumina Refining is owned by Russia’s Rusal, which is controlled by oligarch Oleg Deripaska.