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  • Minister of Finance and the Public Service, Hon. Audley Shaw, is meeting with the Principals of Bauxite Company today (March 30) to discuss specific issues regarding the company.
  • He informed that the principals of Noranda have already met with Prime Minister the Most. Hon. Andrew Holness and they have put a specific set of proposals on the table.
  • The Government of Jamaica owns 51 percent of the assets of Noranda Jamaica Bauxite Partners, which is managed and operated by Noranda Bauxite Limited.

Minister of Finance and the Public Service, Hon. Audley Shaw, is meeting with the Principals of Bauxite Company today (March 30) to discuss specific issues regarding the company.

Among the issues on the tabled are: the recent filing of bankruptcy by parent company,  Noranda Aluminium Holding Corporation (NAHC) and the recent arbitration ruling in favour of the Jamaican Government’s right to be paid the full bauxite levy.

“The issue is that the company has directed an appeal to us and in the spirit of natural justice, we have to hear the appeal,” Minister Shaw said in the House of Representatives on Tuesday (March 29).

“We have to look at the details of what they have to say,” he added.

He informed that the principals of Noranda have already met with Prime Minister the Most. Hon. Andrew Holness and they have put a specific set of proposals on the table.

“We are going to sit with the company because this is not a matter of black and white, because there are…..people who are …either in a direct job or indirect job with Noranda and we cannot treat this in any frivolous or arbitrary way. It is a serious matter,” Mr. Shaw stated.

“As Government, we take the issue very seriously.  We owe it to the citizens of Jamaica, who are so reliant on this company, we owe it to all of them to have a fair, diligent hearing and then Cabinet, with appropriate legal advice, will make its final consideration,” he noted.

The Government of Jamaica owns 51 percent of the assets of Noranda Jamaica Bauxite Partners, which is managed and operated by Noranda Bauxite Limited.