Jamaica this week exported its first alumina shipment under a new agreement between Clarendon Alumina Production Limited and international supply chain manager Noble Resources Limited.
Mr Phillip Paulwell energy minister of Jamaica said that the agreement negotiated with Noble provides for more beneficial alumina offtake and financing contracts. The deal provides the opportunity to finalize new investor relations including an energy solution for the JAMALCO plant.
Before signing the agreement with Noble, the Government was exploring ways to help the recovery of the alumina industry. This included the negotiation of an option with Glencore to buy CAP’s loss making interest in JAMALCO.
However, Mr Paulwell said that instead the Government decided to diversify the alumina market.