The company said Alcoa World Alumina and Chemicals (AWAC) finalised the sale of its 55% ownership stake in the Jamalco
bauxite mining and alumina refinery joint venture located in Clarendon, Jamaica to Noble Group, upon receiving all regulatory approvals.
joint venture is owned 55% by Alcoa Minerals of Jamaica (AMJ) and 45% by Clarendon Alumina Production Ltd., a Jamaican government company.
The divestment will advance this agenda without affecting jobs and the contribution Jamalco
makes to the Jamaican economy, Wilt added.
Metals technology company Alcoa (NYSE:AA) said on Wednesday that Alcoa World Alumina and Chemicals (AWAC) has announced the planned sale of 100% of its ownership stake in the Jamalco
bauxite mining and alumina refining joint venture to Noble Group Ltd (SES:N21.SI) for USD140m.
M2 EQUITYBITES-October 15, 2014-Alcoa to shed Jamalco
stake in USD140m deal with Noble
, owned by Alcoa Inc and the Jamaican government, is still producing both bauxite and alumina;
, in the central parish of Clarendon, remains open.
Through its Jamaican subsidiary, Rinker Jamaica, Cemex plans to construct the port adjoining Jamalco
's Rocky Point Port along with a stockpile area to export washed, crushed, and sized limestone.
Alcoa owns 55% of Jamalco
; the remainder is held by the Jamaican govt.
) has also announced a US$800 million expansion plan, the single largest investment in the country's history.
said its Alcoa World Alumina and Chemicals (AWAC) affiliate and the government of Jamaica approved plans to expand the Jamalco
alumina refinery on the island and boost production of the raw material for aluminum, reports Reuters (May 5, 2005):
said it signed an agreement in principle with Jamaica's government to expand the Jamalco
alumina refinery in Clarendon, Jamaica, by more than 1.5 million tons per year, reports Reuters (Dec.