Bauxite operations stakeholders rejoicing on Rusal ban halt

Local stakeholders of bauxite operations owned by Russian company UC Rusal is beaming with utmost joy since the United States has amended sanctions which it had imposed on key figures in Russia. The month of May thus began with the best positive move ever by putting an end to the blacklisting of the international aluminium giant.   

Not only is this decision expected to bring in a gust of positive sentiment in the metal market by eradicating aluminium supply scare but should also provide a lifeline for the employees and communities that benefit from the operations of UC Rusal-owned West Indies Alumina Company (Windalco) in St Catherine and Kirkvine works in Manchester.

Hugh Graham, the replacement of Robert Pickersgill for the future general elections in North West St. Catherine constituency also expressed his contentment saying that Rusal ban halt will give adequate time to the company to ensure that none of its workers are severely affected.

Graham also said, “Windalco is the largest employer of skill and semi-skilled workers in North West St Catherine, and if they were affected by the sanctions, it would be bad for both the local and national economy."

Devon Smith, Linstead Community Development Committee president also conveyed his happiness about the news.

Rusal had been reportedly facing delisting from the London Metal Exchange, while its shares were on a rising spree on the Hong Kong Stock Exchange. Prices had whipsawed over the past several weeks as the initial sanctions in early April risked cutting off a major supplier from markets.