Bauxite to turn around
Published:Thursday | January 22, 2009 | 9:08 AM
Minister of State in the Ministry of Mining and Telecommunications, Laurence Broderick, is predicting that the bauxite sector will recover within the next three years.
This despite the current downturn in demand on the world market for metals and in particular aluminium.
He says while Jamaica\'s bauxite sector is now in a survival mode, it should return to profitability within three years.
He stated that while there have been some dislocations as a result of the downturn, at least the plants are still open.
One week ago, ALPART announced that 250 temporary workers would lose their jobs.
St Ann bauxite Company has announced that it will be laying off 20 per cent of its staff within the first quarter of this year.