McConnell Said No to Money for Miners, Yes to Russian-Backed This led to a decrease in the local population and had a negative impact on the local economy. The controversial company, partially funded by Kentucky taxpayers and a Russian aluminum company previously blacklisted by the U.S. Government, left Kentuckys politicians befuddled Friday as its founder and the board of directors he appointed publicly battled for control of the company. The closure of the aluminum plant in Kentucky was the result of a series of events that began in the late 2000s. PLEASE TURN OFF YOUR CAPS LOCK. The Russian company backing an aluminum project in Kentucky said its suspending investments as it waits for U.S. partners to raise funds, dealing a new setback to the billion-dollar-plus mill that was supposed to be completed last year. So far, though, there have been no jobs, no funds and even more doubts. The U.S. government previously imposed sanctions on Rusal and its parent company, EN+ Group. Century Aluminum has Putin got the sanctions lifted, and Mitch McConnell got played for a fool. Also on Monday, the public affairs company Mercury, which was hired by British Lord Gregory Barker to lobby for the oligarch's companies to be removed from the U.S. sanctions list, filed a letter under the Foreign Agents Registration Act describing how "the Barker plan permanently removed Oleg Deripaska from control" of his companies EN+ and Rusal. The company, though, doubled down on its decision Friday afternoon in a statement from Charles Price, who the company identified as the now-chairman of Braidys Board of Directors. After working as a DJ and program director, he knew he wanted to come home to Lexington and try his hand in public radio. Instead, the people of Kentucky got nothing. Citing an "unprecedented rise in global energy prices," Century Aluminum in Kentucky announced they will be laying off 628 Hawesville Smelter employees starting August 5. Reynolds Metals Company WP was on it, though it took a few months. An aluminum plant in Kentucky laid off 600 people. Matt Bevin, but current Gov. Rusal has so far poured $65 million into the venture, which local officials have been counting on to bring hundreds of high-paying jobs to the region. A large aluminum plant in Kentucky is temporarily halting production and laying off more than 600 workers due to rising energy costs. Have the latest local news delivered every afternoon so you don't miss out on updates. Through interviews with former employees, local businesses, and politicians, we gained insight into the causes of the closure and its effects on the local economy, environment, and politics. Required fields are marked *. Chance of rain 80%. See latest map, NFL Draft: Reaction to Tennessee Titans taking Kentucky quarterback Will Levis, After being drafted by Commanders, Chris Rodriguez knows his mom would be proud. The aluminum mill is still on course for its expected completion date of 2021, the company said. The U.S. removed Rusal from its sanctions list in January, after the Treasury Department struck an agreement with the company that saw Deripaska, a close ally of Russian President Vladimir Putin, reduce his stake in the company to below 50 percent and lower his voting rights to below 35. What Happened to the Aluminum Plant in Kentucky? A Look at the Ive been very concerned about it for a while. On Friday, it turned bizarre. Powered and implemented by FactSet Digital Solutions. He has a Masters in communications from the University of Kentucky and is a native of Maysville, Ky. Support my work with a digital subscription, Bidens diverse coalition of support risks fraying in 2024, CDC advises those at high risk for COVID mask up in these 3 KY counties. Steel Dynamics said it will completely own the two supporting recycled aluminum slab centers one to be built in the southwestern U.S. and the other in Mexico. Tweets from https://twitter.com/heralddispatch/lists/hd-news-4. As for Unitys role,Steel Dynamics said the plant will supply the beverage, automotive and common alloy industrial sectors. Mutual Fund and ETF data provided by Refinitiv Lipper. Gov. What You Need To Know The plant, with about 628 workers, is the second-largest employer in Hancock County, the Owensboro Messenger-Inquirer reported. Matt Bevin speak with reporters in Wurtland, Ky., on April 26, 2017. Incidentally, Kentucky is the 27th state and the last Southern state to enact right-to-work legislation. Russia cancels Kentucky aluminum plant after Moscow Mitch fails to throw election, Ways to get involved in the upcoming elections. Democrats were investigating McConnell and the Russian investment, and that investigation should continue for the sake of US national security. You've successfully subscribed to this newsletter! In 2011, the plant was acquired by a new company, which invested heavily in modernizing the facility. The Russians have cut off the cash. The Delaware case was dismissed in 2007 because the American court didnt have jurisdiction. 2023 FOX News Network, LLC. Powered and implemented by FactSet Digital Solutions. The materials had been the subject on an ongoing court, Conflicting accounts about the status of Braidy Industries CEO Craig Bouchard have led to confusion. Winds WSW at 10 to 20 mph. So far the company has sunk at least $65 million in the proposed mill, to be built by Unity Aluminum, previously known as Braidy Industries. It also asked about the status of Rusal'sinvestment in the mill, whether Braidy intends to continue its business relationship with that firm, and how Braidy's efforts to secure financing for the mill are proceeding. The Courier Journal sent Braidy Industries a request for comment concerning the Senate committee's report. Letters: Bamboozled.. Senate Majority Leader Mitch McConnell, as well as Sen. Rand Paul, bothKentucky Republicans, voted against that attempt to keep the sanctions in place. All rights reserved. The Russians said that they would build the largest aluminum plant in the United States in Kentucky. All rights reserved. Your Herd from Herald-Dispatch Reach Manager. SCOTUS Now Just Another Congressional Committee, VTB Banks Purchases Russian TV Channel from Abramovich, Trump to Lift Sanctions on Deripaska Companies, MIT Cut Ties With Russian Oligarch Vekselberg, Secret Chinese Police Stations in Europe Are 'Tip of the Iceberg', Trump's Attorney Just Blew Carroll Rape Case, King Charles Says Royals Require 'Acting Ability', Ukraine Will Regain 'Significant Territory' From Russia, Florida GOP Paves the Way to Help Ron DeSantis Challenge Trump. No ones attorneys would ever advise them to do business that way. The closure of the aluminum plant also had environmental implications. The deal was originally brokered under former Gov. This material may not be published, broadcast, rewritten, or redistributed. Best States is an interactive platform developed by U.S. News for ranking the 50 U.S. states, alongside news analysis and daily reporting. Maybe for Monday consumption. They are still excited about the project and expect it to be built, expect it to be completed. However, in 2019, the plant closed its doors for good, leaving many in the community wondering what happened. 'We Don't Think About A Plan B': Braidy Execs Offer Reassurance, Few Details In Hearing. Sanctioned Russian Oligarch's Company to Invest Millions in New However, in 2019, the plant closed its doors for good, leaving many in the community wondering what happened. We want to talk to them, the governor said. The Lexington Herald-Leader had asked Cameron about the developments at Braidy. They estimate it would take 30 to 36 months to construct the facility and the earliest production could begin would be 2025, five full years after the mill was set to be complete. Century Aluminum Sebree in Robards, Kentucky is one of only five remaining active aluminum smelters in the U.S. Save my name, email, and website in this browser for the next time I comment. The Committees findings, along with other information recently released by the Intelligence Community, confirm what we already knew: Russia, China, Iran, and other foreign actors want to influence our politics, interfere with our elections, and stoke fear and division among Americans," McConnell said. If you forget it, you'll be able to recover it using your email address. Could it have been the recent change in Senate leadership on 5 January and Moscow sorry, Senator Mitchs failure to support the Boyar Restoration on 6 January? Check out what's clicking on Foxnews.com. Barker is the executive chairman of Rusal and its parent company EN+. I will continue, if we think that there is any opportunity there to, to support it.. Kentucky ASHLAND The parent company of Steel of West Virginia has announced plans to build and operate an aluminum mill in the southeastern U.S., after reaching a deal with the company that so far has failed to deliver on its promise to put the plant in Kentucky even with financial backing from the state. The news is only the latest twist for the troubled project, which has been plagued by fundraising questions and the ouster of the CEO formerly overseeing the venture. The closure of the aluminum plant had a significant economic impact on the local community. Remember the aluminum plant that Russians said they would build in Kentucky after Mitch McConnell helped lift sanctions? The plant, with about 628 workers, is the second-largest employer in Hancock County, the Owensboro Messenger-Inquirer reported. "Taken as a whole, Manafort's high-level access and willingness to share information with individuals closely affiliated with the Russianintelligence services, particularly Kilimnik and associates of Oleg Deripaska, represented a grave counterintelligence threat," it also says. However, this investment was not enough to revive the plant, and production levels continued to decline. The miraculous $65 million investment materialized I wish I could say days, but its hours, really after Senate ex-Majority Leader, he-who-must-not-be-named Moscow, Mitch McConnell squashed new sanctions on Russia in January 2019. Asked if Bouchards move was driven by shareholders in the company, Stivers said he did not know. "The embarrassment is just going to keep growing over this," Laura Harth, the campaign director at Safeguard Defenders, told Newsweek. In the small town of Greenville, Kentucky, sits a large aluminum plant that was once a major employer in the area. I dont what their articles or bylaws are.. WASHINGTON Democratic lawmakers called on the Trump administration on Thursday to review an investment in Kentucky by a Russian aluminum company that My sole focus is rebuilding Ashland and NEK. Braidy Industries still needs to raise $500 million to build a long-promised $1.7 billion aluminum plant in Appalachia, a top company executive told Kentucky lawmakers Tuesday, July 19, 2022.