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  • A Government team is monitoring the United States-based mining entity, Noranda Aluminum Holding Corporation (NAHC), that filed for bankruptcy earlier this year.
  • Mr. Henry told the Committee that the team comprises representatives of his Ministry as well as the Ministry of Finance and the Public Service; the Attorney General’s Office; Jamaica Bauxite Mining Limited; and the Jamaica Bauxite Institute (JBI).
  • Noranda Bauxite Limited was affected by changes to mining targets and workforce reduction, reflective of a company-wide retrenchment which started in January, consequent on the NAHC’s bankruptcy declaration.

A Government team is monitoring the United States-based mining entity, Noranda Aluminum Holding Corporation (NAHC), that filed for bankruptcy earlier this year.

NAHC is the parent company of St. Ann-based Noranda Bauxite Limited (NBL), which is part owned by the Government.

Transport and Mining Minister, Hon. Mike Henry, gave details of the move, in response to questions from Opposition Spokesman on Mining, Phillip Paulwell, during Wednesday’s (May 4) sitting of the Standing Finance Committee of the House, which is  examining the 2016/17 Estimates of Expenditure.

Mr. Henry told the Committee that the team comprises representatives of his Ministry as well as the Ministry of Finance and the Public Service; the Attorney General’s Office; Jamaica Bauxite Mining Limited; and the Jamaica Bauxite Institute (JBI).

“(They) have been monitoring the ongoing developments between Noranda and its creditors, particularly Glencore and its subsidiaries, so as to gauge a final response to Noranda,” he advised.

As it relates to a recent invitation from Noranda for creditors to make submissions to preserve their interests, the Committee was told that the Government has retained the services of legal counsel in the United States to manage this process.

The law firm is expected to advise the Administration on the filing of a claim in that aspect of the matter.

Noranda Bauxite Limited was affected by changes to mining targets and workforce reduction, reflective of a company-wide retrenchment which started in January, consequent on the NAHC’s bankruptcy declaration.

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