ESG

"Hydro is currently under cyber attack"

Aluminium producer subject to ransomware attack

Staff reporter
Hydro is switching to manual operations where possible

Hydro is switching to manual operations where possible

It said it had isolated all plants and operations and was switching to manual operations and procedures where possible.

"Hydro is working to contain and neutralise the attack but does not yet know the full extent of the situation," the company said about 12 hours ago.

"It is too early to indicate the operational and financial impact, as well as timing to resolve the situation."

It said it would use Facebook as its main external communication channel.

In a webcast, CFO Eivind Kallevik described it as ransom attack. He said it was important to note there were no safety-related incidents.

"Let me be clear," he said.

"The situation for Hydro through this is quite severe.

"The entire worldwide network is down affecting our production as well as our office operations."

It is the latest setback for the company, which is yet to resume full operations at its Alunorte refinery in Brazil, where it was ordered to halve production last year over water contamination concerns.

Bloomberg reported it was the latest cyber attack to hit the commodities sector, referring to a recent attack on zinc smelter Nyrstar and on Saudi and Russian oil giants Aramco and Rosneft PJSC.

Hydro shares were trading about NOK60 in early 2018 before the Brazil issue emerged.

They are down 9.26% year-to-date and closed down 0.7% yesterday to NOK35.58.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.