Jamalco divestment resurfaces after six years, with 30-day strategy deadline

The newly created Ministry of Mining and Geology has 30 days to deliver a plan for divesting the Government’s 45 per cent stake in the alumina plant Jamalco – six years after such plans were last raised.

Minister Floyd Green told Wednesday’s post-Cabinet press briefing that the clock has already started. “The prime minister has mandated that within 30 days we need to come to Cabinet with an implementation plan,” he said. “We are probably into day three of the 30.”

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Green signalled a renewed push to offload a holding he cast as a drain on the public purse. “The Government does need to divest itself of that shareholding,” he said, describing it as “a burden, a financial burden on all of us as taxpayers”.