Sun | Dec 17, 2017

Gov't seeking to attract investment in minerals sector

Published:Monday | November 20, 2017 | 3:02 PM

The government is positioning the minerals sector as the next big area for investment and development.

The Jamaica Promotions Corporation (JAMPRO) says the minerals sector, which accounted for 49 per cent of export earnings last year, holds tremendous potential for driving economic growth and creating jobs.

Exports of bauxite and limestone generated approximately US$95 million in 2016.

As a result, the investment and trade promotion agency says it is seeking to expand the industrial minerals subsector by attracting investments in untapped areas such as limestone, clay, marble and skid resistant aggregates.

It says it will also be seeking to attract more than $500 million investment to assist present stakeholders to retool and modernise their operations.

JAMPRO says it has organised a Minerals Investment Forum for tomorrow to promote interest and attract investment in the sector.