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Gov't considers overhaul of Jamalco's operations

By Halshane Burke  

The government is contemplating an overhaul of the operations at Jamalco.

Hong Kong-based Noble Group Holdings, the major shareholder in the Jamalco alumina refinery, recently announced that it entered into a call option to transfer its ownership.

This would have implications for the plans by the government to privatise Jamalco and have it listed on the Jamaica Stock Exchange.

Mining Minister Audley Shaw was coy in responding to questions from Radio Jamaica News about the future of Jamalco in light of Noble's announcement. 

"What I can say to you broadly is that we are looking at reorganisation. Some possible new investors will be coming on board and Jamalco is definitely one of the companies that will be reopening up in good order and in a significant way," he declared.