Noranda to pay full bauxite levy, Gov't welcomes Tribunal's decision
THE GOVERNMENT of Jamaica has welcomed the decision of the tribunal which heard the matter of arbitration between Noranda Bauxite Company Limited and the Government.
The matter relates to a challenge by Noranda to extend a concession granted in 2009 under the Bauxite Levy Act not to pay the full bauxite levy.
In a release yesterday, it was revealed that, in its decision, the Tribunal agrees with the Government of Jamaica that it did not surrender its rights to apply the full bauxite levy to Noranda after the concession that was granted expired in December 2014. The Government has maintained that Noranda should pay the full levy as of January 2015, as required under the Bauxite Levy Act, which the ruling of the Tribunal has now confirmed.
The Government of Jamaica has, therefore, won on all points contested and expects a full resolution of this matter in short order.
The Jamaican Government was represented at the hearings by Phillip Paulwell, minister of science, technology, energy and Mining, along with other senior technocrats from the Government.
In welcoming the decision, Finance Minister Dr Peter Phillips reiterated that the people of Jamaica have won a difficult battle. He fully expects Noranda's cooperation in bringing an end to this episode.