RUSSIAN aluminum giant Rusal is diverting bauxite cargoes from Guinea to its refinery in Ireland after the original destination in Ukraine shut down because of the Russian invasion, Reuters reports.
Tesla Inc raised its prices in China and the United States for the second time in less than a week on Tuesday, citing surging raw materials costs because of Russia's invasion of Ukraine, and rival carmaker Volkswagen warned that the conflict is clouding its prospects for this year.
Britain has sanctioned Rusal's billionaire founder Oleg Deripaska and while the aluminum company itself has not been targeted it is facing a more restricted operating environment, with Anglo-Australian Rio Tinto cutting ties with Rusal as part of its overall withdrawal from Russia.
Rio Tinto was an important supplier of bauxite - an ore used to make aluminum - to the Aughinish refinery near Limerick in Ireland, Rusal's biggest alumina operation and largest such plant in Europe.
The Irish government is keen for the refinery to continue operations, the Department of Enterprise said, adding that Rusal is a significant employer in Limerick.
'The department and its agencies continue to assess the implications of recent developments and are closely monitoring the situation,' the department said.
Rusal said it is 'fulfilling all its obligations towards its employees at all its assets around the world, including paying salaries and is strongly committed to continuing to do so'.
A Reuters analysis of Refinitiv shipping data showed that of the six vessels at sea and originally transporting Guinean ore to the Nikolaev facility, four were rerouting to Aughinish. The two other vessels are in the western Mediterranean Sea awaiting orders, the data shows.
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Tesla Inc raised its prices in China and the United States for the second time in less than a week on Tuesday, citing surging raw materials costs because of Russia's invasion of Ukraine, and rival carmaker Volkswagen warned that the conflict is clouding its prospects for this year.
Britain has sanctioned Rusal's billionaire founder Oleg Deripaska and while the aluminum company itself has not been targeted it is facing a more restricted operating environment, with Anglo-Australian Rio Tinto cutting ties with Rusal as part of its overall withdrawal from Russia.
Rio Tinto was an important supplier of bauxite - an ore used to make aluminum - to the Aughinish refinery near Limerick in Ireland, Rusal's biggest alumina operation and largest such plant in Europe.
The Irish government is keen for the refinery to continue operations, the Department of Enterprise said, adding that Rusal is a significant employer in Limerick.
'The department and its agencies continue to assess the implications of recent developments and are closely monitoring the situation,' the department said.
Rusal said it is 'fulfilling all its obligations towards its employees at all its assets around the world, including paying salaries and is strongly committed to continuing to do so'.
A Reuters analysis of Refinitiv shipping data showed that of the six vessels at sea and originally transporting Guinean ore to the Nikolaev facility, four were rerouting to Aughinish. The two other vessels are in the western Mediterranean Sea awaiting orders, the data shows.
SeaNews Turkey