Rising gas prices coupled with Ukraine-Russia geopolitical crisis pose a threat to Limerick Alumina Refining's job security

After talking with company bosses, Niall Collins, the Limerick TD and Minister of State has played down fears of job losses at Aughinish Alumina.

According to the company's directors and auditors, the Ukraine-Russia geopolitical conflict and its economic impact are threatening the future viability of Rusal-owned West Limerick.

Since the rise in gas prices in the year before the Ukraine invasion, the company has suffered a net loss of over €363 million.

Now, these prices have increased again due to the conflict, putting the organization under immense pressure. As a result of the document, fears have again been raised for the nearly 500 employees at Europe's largest bauxite refinery, which produces 30% of the country's alumina, used primarily in aircraft.

Limerick Alumina Refining paid over €46 million in wages to local workers in its report to the Companies Registration Office.

Aughinish's parent company pledged sustained support until December 31, 2023, with directors stating they "reasonably expect" the company to continue trading.

Niall Collins, the person, holding regular meetings with Aughinish management as a Local TD, said: "They have told us, and nobody has disputed it, that within the Rusal global group, Aughinish is the most efficient. It is involved in the manufacturing process of a commodity for which there is a huge global demand."

Cllr Stephen Keary, the former mayor and the leader of the district where the local alumina refinery is based, said, "I am extremely concerned to read the reports about its viability."

“It’s been a fantastic employer for West Limerick and North Kerry. If anything were to happen to it, it would be the death knell for the area. Many people employed there would have a specific skill set, and there would not be that opportunity for redeployment to a similar facility,” said Cllr Keary.

Dee Ryan, the CEO of Limerick Chamber, said, “If anything was to happen, and we hope it doesn’t, it will be very challenging for people in that area to find equivalent work in the vicinity.”