Alumina Partners of Jamaica (Alpart), owned by Russian aluminum giant RusAl (65%) and Norway’s Hydro Aluminum (35%), will suspend production from May 15 for at least 12 months, RusAl said on Thursday.
“Owing to the continuing severe decline in the global aluminum industry and the corresponding reduction of alumina demand worldwide, the company will temporarily suspend operations at its mining and refinery operations in Jamaica for a period no less than 12 months commencing May 15, 2009,” RusAl said in a statement. According to RusAl, the prices of alumina products have fallen 60% since July.
“The temporary shutdown will allow Alpart to be prepared for future developments that may see the industry emerge from the present situation. The company will meet its obligations to employees and communities in a timely manner during this period and continue to be a responsible corporate partner,” the statement said.
United Company RusAl accounts for approximately 12% and 15% of global production of aluminum and alumina respectively. The company sells its products in 70 countries worldwide and employs 100,000 people in 19 countries. (rian.ru)