CAP to Record Profit By Next Year

Minister of Science, Technology, Energy and Mining, Hon. Phillip Paulwell, says it is expected that by next year, there will be a return of profitability to Clarendon Aluminium Partners (CAP).

“We are seeing the revitalisation of the bauxite industry and for the first time in a long time… we are now forecasting that by next year, we are seeing the return of profitability to the Government owned Clarendon Aluminium Partners (CAP),” he added.

Making his contribution to the 2015/16 Sectoral Debate in the House of Representatives on April 15, Mr. Paulwell said that during 2014, Jamaica mined and quarried 12.3 million tonnes of limestone.

Mr. Paulwell said these materials included marl and fill, which amounted to 10.3 million tonnes;  and 2.03 million tonnes of construction aggregates and high grade limestone for chemical and pharmaceutical purposes.

Some of the largest developers of limestone in Jamaica include the Caribbean Cement Company, Lydford Mining Company, Cementos Mexicanos and Chemical Lime Company, a local subsidiary of L’Hoist.

In the meantime, the Minister said key strategies are being pursued to gain maximum advantage from the exploitation of the country’s mineral resources.

“There are some critical policy objectives which include the finalisation of the National Minerals Policy and the mapping of critical mineral resources – gold, copper and limestone,” he noted.