UC RUSAL begins settlement of Bauxite Production Levy debt to the GovernmentFriday, November 26, 2021
KINGSTON, Jamaica — The United Company RUSAL (UC RUSAL) has paid approximately US$13.7 million to the Government of Jamaica for the Bauxite Production Levy (Bauxite Levy).
According to a release, the payment was made on Wednesday, November 17 and represents 40 per cent of the Bauxite Levy that it has owed the Government between April 2018 and September 2021.
It also includes the first payment of the remaining 60 per cent of the debt, which both the Government and UC RUSAL have agreed will be paid in equal monthly instalments over a period of 30 months commencing November 2021. UC RUSAL is also required to remain current with its regular Bauxite Levy payments.
The agreement to allow UC RUSAL to pay 40 per cent of its Bauxite Levy debt upfront and the remaining 60 per cent over 30 months was reached between the Minister of Transport and Mining and senior officials of UC RUSAL in September 2021. This agreement was also supported by the Ministry of Finance and the Public Service.
In a meeting at his Maxfield Avenue office on Thursday, Minister of Transport and Mining, Robert Montague, commended UC RUSAL for making the payments as agreed. He further encouraged the company to maintain the good practice.
The Minister was joined by Sergey Kostyuk, Country Manager of UC RUSAL's Jamaican operations, and a technical team from the Ministry.