Jamaica’s mining revival turns red earth to gold for hedge funds

• The once-giant American company Kaiser Aluminum, which started mining here in 1967 is at the leading edge of a revival of the mining industry, turning Jamaica’s red earth to gold for a new set of investors from hedge fund luminaries to commodity traders.
• Now things are turning around for the mines. Noranda, which was bought out of bankruptcy by New Day Aluminum together with an alumina refinery in Louisiana, is planning a 40% increase in production this year after signing a supply deal with a Chinese company. Additionally, the Chinese group Jisco, which bought the mothballed Alpart plant from Rusal, is looking to expand.
• Parris Lyew-Ayee, executive director of the Jamaica Bauxite Institute has highlighted that good days are ahead for the industry however he does not believe that the glory days will return.

(Source: Yahoo Finance)