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  HOME | Caribbean

Noranda Mine in Jamaica to Remain Open despite Bankruptcy Filing

SAN JUAN U.S.-based Noranda Aluminum Holding Corp said on Monday that its bauxite mine in Jamaica will remain in operation as the company pursues restructuring under a Chapter 11 bankruptcy.

The mine in St. Ann, run by wholly owned subsidiary Noranda Bauxite Ltd., is to operate normally while the parent company focuses on improving productivity and reducing costs, Noranda said.

Noranda filed petitions with the U.S. Bankruptcy Court for the Eastern District of Missouri seeking a court-supervised restructuring process under Chapter 11.

The government of Jamaica retains a 51 percent stake in the mine at St. Ann, which produces approximately 4.5 million of tons of ore per year.

Noranda Bauxite Ltd. has a government concession to mine bauxite in Jamaica through 2030 and 49 percent of Noranda Jamaica Bauxite Partnership, which holds the physical mining assets.

 

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