MOSCOW, March 19 (RIA Novosti) - 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
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.