Noranda Aluminum Company today filed for bankruptcy in the United States.
A statement from the company says the the bankruptcy covers all its wholly owned direct and indirect subsidiaries, including Noranda Bauxite Limited in Jamaica.
Noranda says it has taken the action in order to have additional time and financial flexibility to evaluate options for its various business operations.
Speaking with Nationwide News today, Noranda’s Vice President of Communication and Investor Relations, John Parker, says the bauxite levy imposed by the Jamaican government was among the factors that led to the company’s decision to file for bankruptcy.
Mr. Parker says operations at Noranda Bauxite in Jamaica are expected to continue for now.
Energy Minister Phillip Paulwell says government officials will be meeting with Noranda’s local representatives on Friday.