Century to acquire majority interest in Jamalco Refinery

Jamalco is a bauxite mining and alumina production joint venture in Jamaica; it has an alumina production capacity of 1.4m t and employs over 900 people. Pursuant to the terms of the agreement, a wholly owned subsidiary of Century will acquire General Alumina Holdings Ltd, a Noble subsidiary and owner of the company’s 55 % interest in Jamalco, for USD1. The transaction is expected to close by the end of April 2023.

With Jamalco, Century secures long-term supply of alumina

“This acquisition is highly strategic for Century as it secures a predictable, long-term supply of alumina, our most critical raw material and achieves increased transparency and control of our supply chain,” says Jesse Gary, president and CEO of Century. “Acquiring this interest in Jamalco allows us to integrate our aluminium smelting operations with this critical upstream supply of bauxite and alumina to create a more balanced and robust operational footprint, resulting in an organization that is better positioned to deliver strong performance through industry cycles.

Jamalco produces high-quality aluminium

“Jamalco is a well-known and well-regarded organization with a world class operational team. It has historically proven its competitive advantages through its consistent production of high-quality alumina, strategic geographic footprint in the Atlantic alumina market, and strong corporate culture focused on safety, integrity and employee well-being,” says Gary. “We believe this acquisition will ultimately provide Century and our stockholders with a meaningful opportunity for long-term value creation. We look forward to working with our new joint-venture partners, Clarendon Alumina Production Ltd.”