Sun | Oct 2, 2022

Noranda plant renamed Discovery Bauxite Operations Ltd

Published:Tuesday | May 24, 2022 | 12:05 AMCarl Gilchrist/Gleaner Writer
Noranda Jamaica Bauxite in Discovery Bay, St Ann. FILE
Noranda Jamaica Bauxite in Discovery Bay, St Ann. FILE
DELL
DELL
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New Day Aluminium (Jamaica) Limited, the managing partner of Noranda Jamaica Bauxite Partners II, has formally changed its name to Discovery Bauxite Operations Limited, completing a formal rebranding that started last year.

The change will not affect the company’s operations, and the name, Noranda Bauxite, will still be used for the time being.

In a notice to employees on Friday, Delroy Dell, the company’s vice-president and country manager, said the exercise is solely a change of name, and Discovery Bauxite was not a new company.

“Consequently, and in accordance with Section 17(5) of the Companies Act of Jamaica, all rights and obligations, including commitments and liabilities, of New Day Aluminum (Jamaica) Limited, continue to exist and will be performed or held under the name Discovery Bauxite Operations Limited,” Dell said.

As part of the rebranding, the company’s email address suffix has changed from norandabauxite.com to atalco.com, which represents the corporate entity, Atlantic Alumina (ATALCO).

Discovery Bauxite Operations Limited owns 49 per cent of Noranda, while the Government of Jamaica, through Jamaica Bauxite Mining Limited, controls a 51 per cent stake.

“For the time being, we will continue to operate the partnership under the name Noranda Jamaica Bauxite Partners II,” Dell said.

With close to 400 full-time employees, Noranda generated income of just under US$30 million through export of bauxite to Gramercy, Louisiana, USA, for processing into alumina in 2021.

In 2018, the Jamaican Government entered into a profit-sharing agreement with New Day, wherein Jamaica would earn 17.33 per cent of the company’s earnings. This arrangement was abandoned by mutual agreement in September 2021, reverting to the bauxite levy.

The balance of New Day’s debt to the Government at the time, US$3.4 million, was scheduled to be paid by the end of October.

In July 2021, Concord Resources Holdings Limited acquired majority shares in New Day’s principal holdings, which includes Noranda Bauxite Jamaica, Noranda Alumina Refinery and NICHE Chemical in Louisiana.

carl.gilchrist@gleanerjm.com