The Jamaican government estimated the value of mining earnings from bauxite and alumina to be US$507 million (JMD 77 billion) for the current fiscal year, increasing by 7% compared to the fiscal year 2020-2021, as the Jamalco alumina plant was reopened in August this year.
However, RUSAL, which owns 52% of local alumina production, is once again targeted by the US and European sanctions due to the conflict between Russia and Ukraine. RUSAL holds a major share in Jamaica’s West Indies Alumina Company Limited (Windalco).
Sanctions on RUSAL may lead to revenue loss for Jamaica
31 Oct 2022 15:51 reported by Joy Liu
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