The limited liability company which was incorporated on February 13, 1975, Jamaica Bauxite Mining Limited (JBM), where the company holds 51% equity, on behalf of the Government, in the operations of Noranda Jamaica Bauxite Partners in St. Ann, is eyeing to initiate the up-gradation work of Ocho Rios Port during the current fiscal year.
However, the ownership of the 49% shareholding, previously held by Noranda, was passed to New Day Aluminium in 2016.
The commencement of the up-gradation has been notified by the 2021/22 Public Bodies Estimates of Revenue and Expenditure, which clearly states that the exercise will serve to develop the facility’s business activities while maximizing revenue.
The engagement floats part of JBM’s efforts to pursue stakeholder collaborations this year to foster responsible mining practices and speedy restoration of mined lands, all aimed at preserving the environment.
The Ministry of Transport and Mining forecasts a net surplus of $85.27 million.
Simultaneously, in 2021, the Jamaica Bauxite Institute (JBI) will focus on facilitating mining stakeholders in accessing bauxite reserves, while ensuring the rationalization of these and full compliance with the governing regulations.
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