Jamaica Govt. to recover $2.8 million owed to Jamaica Bauxite Mining, says Robert Montague

The Government of Jamaica is dedicated towards the collection of approximately $2.8 million that is owed to the Jamaica Bauxite Mining Limited.

Jamaica Bauxite Mining Limited (JBM) is a Government-owned Company (a Public body) with a business enterprise mandate. The Company holds 51% equity on behalf of the Government of Jamaica in the bauxite operations of its current partners, New Day Aluminium (Jamaica) Limited.

Robert Montague, Minister of Transport and Mining during Sectoral Debate in the House of Representatives said: “Our partners in the New Day plant are behind on some of their commitments. However, these funds belong to the people of Jamaica and we intend to use all legal means to collect them. We have agreements and we have laws and we intend, with the advice of the Attorney General's Chambers, to use them. Never forget that we are a country of laws.”

Montague highlighted $2.8 million that is approximately owed to Jamaica Bauxite Mining Limited will certainly be collected.

“Our partners clearly understand that Jamaica is a country of laws and this Ministry carefully guards the people's assets. Overall, our records show that our partners owe another US$14 million to the Ministry of Finance, in addition to the $2.8 million owed to Jamaica Bauxite Mining. We are in support of the Ministry of Finance in doing what's necessary to collect the people's money for bauxite already shipped,” he added.

Furthermore, towards the later part of 2021, when it is legally allowed, the Government earmarks to renegotiate the Establishment Agreement.

“That is, we intend to maximise on the earnings from this vital industry. As a matter of fact, we are moving to audit the whole operations in St. Ann,” Montague concluded.

source https://www.alcircle.com/news/jamaica-govt-to-recover-2-8-million-owed-to-jamaica-bauxite-mining-says-robert-montague-66404