Mining Minister Phillip Paulwell says Russian aluminium company, UC Rusal, has been given until December 31 to re-open the ALPART plant in St Elizabeth or risk losing their mining rights.
Paulwell says he met with representatives of UC Rusal this week and reminded them of the deadline.
He says if the company fails to re-establish the ALPART plant by this date, their reserves will be forfeited and given to others who can undertake the project. He noted that Jamaica has significant resources tied up in the licence granted to UC Rusal and says he is confident that, with the industry emerging from the recession, those reserves will become valuable and attract other business interests.
Paulwell also revealed that the government has received commitments from investors interested in doing business in Jamaica, but declined to give details.
