Aughinish Alumina on course to return to profit in 2025 after $113.6m loss for 2023

Directors point to continuing high natural gas prices and raw material supply difficulties as main factors behind high production costs

The Aughinish Alumina Refinery on the Shannon Estuary near Foynes, Co Limerick.

Pre-tax losses at the Russian-owned company that operates the largest alumina refinery in Europe located on the Shannon estuary last year totalled $113.64m (€108m).

New accounts filed by Limerick Alumina Refining Ltd (LARL) show that the company recorded the losses after revenues slumped by 32% from $853.48m to $583m for 2023.