Gov’t says JBM retains oversight of  bauxite mining operations in St. Ann, and holds 51% interest in DBP

The government says Jamaica Bauxite Mining Limited, (JBM) retains oversight of Bauxite mining operations in St. Ann, holding a 51 percent interest in Discovery Bauxite Partners (DBP), which is managed by Concord.

The Mining Ministry made the statement while acknowledging the recent announcement of a partnership between the Atlantic Alumina Company (ATALCO), parent company and partner of Discovery Bauxite Partners, formerly Noranda Partners II, the United States Department of War (DOW), and Concord Resources Holdings Limited (Concord).

It said this partnership, supported by Concord’s majority shareholder Pinnacle Asset Management, L.P., seeks to sustain and expand domestic alumina production and establish the United States’ first large-scale primary gallium production circuit in Gramercy, Louisiana.

According to the ministry, Jamaica’s longstanding role in the global bauxite and alumina value chain underscores the international significance of these developments.

The ministry and JBM confirmed their awareness and ongoing engagement through established communication channels. 

According to the release,  Discovery Bauxite Partners supplies bauxite to ATALCO’s Gramercy refinery under a robust supply agreement linked to downstream alumina production.

It said the announcement highlights the growing global demand for alumina and critical minerals vital to aerospace, defence, advanced manufacturing, energy technology, and semiconductors.

According to the announcement, the US Department of War’s Industrial Base Analysis and Sustainment programme has invested 150 million dollars in preferred equity in ATALCO, with further US government funding expected within 30 days.

The ministry said Pinnacle’s fund, as majority shareholder via Concord, has already invested over 300 million dollars in private capital.

It said this strategic collaboration between the US government, private investors, and DBP reinforces the need for discovery bauxite partners to enhance operational efficiency and production capacity to meet alumina targets.

The ministry and JBM said they remain committed to monitoring these developments and maintaining active dialogue to safeguard Jamaica’s national interests and ensure the stability of the local bauxite sector.