The ultimate owner of Aughinish Alumina in Limerick has said significant investment is planned for the facility, just months after US Government sanctions threatened the future of its 450-plus jobs.

US president Donald Trump intervened to help safeguard hundreds of jobs in the Limerick region after the impact of sanctions against Russia threatened to damage the Aughinish Alumina plant.

Around 700 jobs at Aughinish Alumina in Limerick are safe for now after the US senate voted to support the White House in ending sanctions against the plant’s Russian owner.

The directors of the firm which operates the Aughinish Alumina refinery said as recently as mid-September they expected a solution to be reached with the US Treasury over sanctions imposed on the Limerick company’s parent.

Russian firm, Rusal, which owns Aughinish Alumina in Limerick, will be avoided by customers when the industry meets in Berlin next week to seal 2019 metal-supply agreements, industry sources predict.

The US Treasury has extended the deadline to investors to divest interests in the Russian firm that owns Aughinish Alumina, in Limerick, but has not removed it from its sanctions list.

Confusion surrounds billionaire Oleg Deripaska’s position on the board of Russian aluminium giant Rusal, the owner of Aughinish Alumina in Limerick.

The Government cannot become complacent about the risk to more than 650 jobs at Aughinish Alumina in Limerick even though fears are easing about the Trump Administration’s targeting of its Russian owner Rusal.

The Government has said it will take “weeks to assess” the impact on the Irish economy of Donald Trump’s trade sanctions on Russia as 650 jobs at Aughinish Alumina in Limerick remain under threat.

The response of other trade blocs to America’s move will hurt, writes John Whelan.

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

An EU court has ordered the Government to recover over €10m in illegal state aid from Co Limerick-based metals refinery Aughinish Alumina.

The largest alumina refinery in Europe, Rusal Aughinish on the Shannon estuary, last year plunged into the red to record pre-tax losses of $10.4m (€7.68m).

Russian billionaire Viktor Vekselberg yesterday quit as chairman of the largest aluminium producer in the world, UC Rusal, saying the heavily indebted firm was in deep crisis after a long battle with rival oligarch Oleg Deripaska.

FARMERS have warned that toxic waste remains at the massive Aughinish Alumina plant in west Limerick could end up as tomorrow’s Haulbowline toxic dump unless action is taken now.

Commodities giant Glencore will tonight become the first company in 25 years to be fast-tracked into London’s FTSE 100 Index after official trading in its shares got under way today.

Commodities giant Glencore has been valued at more than £36bn (€41bn) after dealings in London’s biggest stock market listing got under way today.

Commodities giant Glencore has been valued at more than £36bn (€40bn) after dealings in London’s biggest stock market listing got under way today.

AUGHINISH Alumina has denied claims by farmers living near its facility on the Shannon Estuary that bauxite residue, similar to that which has caused the Hungarian environment disaster, poses a risk here.

RUSSIAN Prime Minister Vladimir Putin yesterday visited the site of the Siberia power plant accident that killed 47 workers and promised compensation for their families and those of the 28 others still missing.

Hopes were fading today for 64 workers missing after an accident at Russia’s largest hydroelectric plant.

An accident at Russia’s largest hydro-electric plant has killed seven people and shut down the plant.

ONE billion dollars is no longer enough to gain entry to Russia’s rich list.

The world’s leading drinks can maker Rexam boosted its presence in Russia today after agreeing to buy rival Rostar for £149m (€221m).