Gov’t commits to protect local interests in Noranda sale
KINGSTON, Jamaica — Transport and Mining Minister, Lester ‘Mike’ Henry, has reiterated the Government’s commitment to protect the interest of all local parties attached to the Noranda Bauxite Company in St Ann.
The affirmation follows last week’s announcement that New Day/DaDa Holdings, LLC (DaDa) has been selected by Noranda and its creditors and approved by the Court of Arbitration as the preferred bidder for the purchase of the Gramercy facility and bauxite mining rights in Jamaica.
According to Henry, the ministry has been engaged in ongoing discussions with New Day Jamaica Bauxite Mining regarding all outstanding monetary obligations to line-staff members, contractors and the Government.
He said all obligations to the affected parties will be fully honoured by New Day Jamaica Bauxite Mining over time on a phased basis, once the schedule is agreed.
Henry also said incomplete projects such as land reclamation will be finalised by the new company and the Government will be providing a cooperation framework to ensure that the new entity has a smooth takeover of operations in keeping with our Labour Laws and the Environment Act.
The minister is expected to brief Cabinet today, and then make a full statement to Parliament on Tuesday.