Jamaican government mum on reported Glencore deal

KINGSTON Jan 4 （Reuters） - The Jamaican government refused on Tuesday to confirm reports it had struck a deal to sell its 45-percent stake in the Jamaica Alumina Co, known as Jamalco, to Swiss-based Glencore International AG GLEN.UL.

Prime Minister Bruce Golding said in his New Year's message that the government had reached an agreement to sell its holdings in the bauxite and alumina company but declined to identify the buyer.

International media, including Metal Bulletin, have since reported that the buyer is Glencore, one of the world's largest suppliers of raw materials and commodities.

Mining and Energy Minister James Robertson told a Kingston radio station on Tuesday that negotiations to divest the government's shares were continuing, but would not say which company was involved in the talks.

"I will only say that negotiations are at a delicate stage and because of the delicate nature of the talks, I cannot say much more," Robertson told the station.

Jamalco operates a mine, port and refinery and has the capacity to produce 1.425 million tonnes of alumina annually.

Golding told Parliament last year that the state would be better off divesting its interest in Jamalco. The remaining 55 percent of shares are owned by Alcoa （AA.N: Quote） which manages the company. （Reporting by Horace Helps, Editing by Jane Sutton）