Jamaica exports first alumina shipment under new agreement

Jamaica this week exported its first alumina shipment under a new agreement between Clarendon Alumina Production Limited (CAP) and international supply chain manager, Noble Resources Limited.

The shipment left from Rocky Point in Clarendon on Wednesday.

Noble Resources Limited is listed on the Singapore Stock Exchange and is Asia’s largest diversified commodities trading company.

In a statement today, the energy minister Phillip Paulwell said the agreement negotiated with Noble provides for more beneficial alumina offtake and financing contracts.

He also said the deal provides the opportunity to finalise new investor relations including an energy solution for the JAMALCO plant.

Before signing the agreement with Noble, the Government was exploring ways to help the recovery of the alumina industry.

This included the negotiation of an option with Glencore to buy CAP’s loss-making interest in JAMALCO.

However, Paulwell said instead the Government decided to diversify the alumina market.

Glencore responded by filing a legal action in the local and English courts to prevent CAP from shipping alumina to Noble.

However, CAP successfully contested the legal action on July 24 as the local court set aside the ex parte injunction acquired by Glencore.

This cleared the way for the first shipment to Noble on July 31.