Noranda

Bauxite Levy In Place for Upcoming Fiscal Year: Ministry of Finance

Bauxite Levy In Place for Upcoming Fiscal Year: Ministry of Finance

Jamaica’s Ministry of Finance laid to rest concerns regarding the government’s bauxite levy last week when it addressed Auditor General Pamela Monroe Ellis’s concerns regarding the levy’s status in the upcoming fiscal year. Ellis raised the question after the Fiscal Policy Paper...

Events

Bankruptcy Court Judge Ratifies Closure Agreement for Sherwin Alumina

Seven-hundred fifty-five days after the lockout began, an agreement to officially close Sherwin Alumina Co.’s plant in Texas is finally in place. A bankruptcy judge approved the agreement on Thursday, which will allow for the payment of severance benefits to the plant’s union workforce. U.S. Bankruptcy Court judge David R. Jones executed an order releasing […]

Jamaica’s Mining Minister Says Partnership for Noranda Plant Must Come Soon

Jamaica’s Minister of Transport and Mining Mike Henry informed the Jamaican House of Representatives last week that the government must establish a new partnership for operating Noranda’s facilities on the island by today or risk losing funding from creditors. “The government is not hastening to conclude an agreement with New Day Aluminium,” Henry told the […]

New Day Aluminum Acquires Noranda’s Upstream Assets for US$24.43 MM

Noranda Aluminum’s remaining upstream assets are now the property of New Day Aluminum after having submitted the winning bid at the court-sanctioned bankruptcy auction on Tuesday. Court filings indicate that their bid bested the offer submitted by ARG International AG. New Day was the designated stalking-horse bidder at auction, beating out ARG, which is the […]

Noranda Inks Agreement with Remaining Creditors, Nominates Stalking-Horse Bidder for Remaining Upstream Assets

Franklin, Tennessee’s Noranda Aluminum Holding Corporation announced on Friday that it has negotiated a global settlement agreement with several of the lenders with outstanding claims against Noranda. The document will be submitted to the bankruptcy court handling Noranda’s Chapter 11 proceedings for approval during a hearing later this month. The agreement, among the firm’s secured […]