Government To Meet With Noranda Bauxite Today
Principals of Noranda Bauxite Company will today meet with Finance and the Public Service Minister Audley Shaw and Transport and Energy Minister Mike Henry to discuss a proposal the company has placed on the table for the government to consider.
Shaw made the disclosure in Parliament yesterday while responding to a caution from his opposition counterpart Dr. Peter Phillips.
Phillips urged the Government not to give up rights which have been received through arbitration.
Last year, a tribunal set up to hear a dispute between the Government and Noranda Bauxite Company handed down a decision in favour of the government.
Noranda had challenged the government’s decision not to extend a concession granted in 2009 under the Bauxite Levy Act.
The agreement to allow Noranda to pay less than the required levy expired in December 2014, and Noranda has been told to pay up.
However, the company has maintained that it cannot afford to and has even filed for Chapter 11 bankruptcy in the US.
Yesterday, Phillips said while he did not object to negotiation with the company, he was against any discussion that would give up rights which have been received through arbitration.
130 total views, 2 views today