State Minister of Finance, Fayval Williams says the Government is insisting that the new owners of Noranda Bauxite Company stand by the company’s obligations to the people of St. Ann.
Noranda will be auctioning its assets in St. Ann in September, as part of its bankruptcy proceedings.
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The bauxite company must declare its debts at the upcoming auction. However, there are concerns that Noranda may fail to do this to escape its obligations.
State Minister Williams says she is assuring the people of St. Ann that the Government will insist that Noranda declares all its outstanding debts at the auction or insist that these debts are transferred to the new buyer.
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She says the Government is in the process of responding to a letter from Noranda in March, in which the company is seeking a reduction in its debt to the government.
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