$1.2bn refinery secured until 2030
The owners of Europe’s largest alumina refinery, RUSAL Aughinish, yesterday confirmed that partial commissioning of the site has commenced and will continue in 2012 and 2013.
A spokesman said: “It is a major milestone for RUSAL Aughinish in that it delivers bauxite residue storage capacity until the year 2030 at approximately 2 million tonnes alumina production per year. This milestone, the partial commissioning of the Phase 2 Bauxite Reside Disposal Area (BRDA), was achieved on schedule and within budget.”
Construction work on the project on lands near the Shannon estuary has been ongoing over the past three years.
Aughinish Alumina secured planning permission for the BRDA from Bord Pleanála in 2007, despite opposition from local farmers and residents.
Work was suspended on the project in 2009 as a result of the then very difficult trading conditions when alumina production at Aughinish was significantly reduced.
The opening of the BRDA extension comes as the existing 236-acre BRDA is projected to reach the end of its life by next year, by which time a total of 23.3 million tonnes will have been deposited.
Last year, the facility enjoyed a 50% increase in production with 1.86 million tonnes of alumina after processing 4.1 million tonnes of bauxite ore (leaving a residue of 1.2 million tonnes of waste in the BRDA).
This compares to 1.24 million tonnes of alumina produced after processing 2.7 million tonnes of bauxite ore in 2009 — approximately 70% of the bauxite processed by RUSAL Aughinish comes from Guinea in west Africa, with the remainder coming from Brazil.
The finished product, alumina, is exported for further processing through smelting to aluminium metal.
A company spokesman said: “The 2010 production rate represents a return to a normal annual production rate. During 2009 the alumina refinery output was reduced very significantly due to reduced worldwide demand for alumina. Four other alumina plants owned by the parent company were shut down at that time, one of which has now restarted in Jamaica.”
He added: “2011 production rates are expected to be only slightly higher than 2010 rates.”
Last year, RUSAL Aughinish returned to profit after revenues almost doubled to $496.9 million.
In accounts recently filed to the Companies’ Office by Limerick Refinery Alumina and subsidiaries, the company recorded a pre-tax profit of $24.5m in the 12 months to the end of December last after recording a loss of $26.3m in 2009.
The Russian company is controlled by Russian oligarch Oleg Deripaska and it purchased Aughinish Alumina from Swiss trading firm Glencore in 2007.
CONNECT WITH US TODAY
Be the first to know the latest news and updates
