Business

Origin cleared to keep drilling in NT despite Russian oligarch ties


Australia has banned all alumina exports to Russia to curtail its capacity to make aluminium, a key materials wanted within the development business and the manufacturing of weapons and munitions. Oleg Deripaska, an oligarch who holds a big stake in Rusal’s majority shareholder, has additionally been added to Australia’s listing of sanctioned businessman.

“As a result of the Australian Government’s sanction measures, Rio Tinto has taken on 100 per cent of the capacity and governance of Queensland Alumina Limited until further notice,” the corporate mentioned.

Rio Tinto, the 80 per cent proprietor of the refinery, is amongst a rising variety of companies in Australia and worldwide searching for to sever business ties with Russian companies following the invasion of Ukraine.

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