PHOTO FLASHBACK: RED GOLD IN THE HILLS
BAUXITE’S BIG BOOST TO JAMAICA
The bauxite industry, in which over £50 million of US and Canadian capital was invested during the decade just ended, is one of the major elements in Jamaica’s economy.
The three bauxite companies, Alumina Jamaica Ltd, Kaiser Bauxite Co, and Reynolds Jamaica Mines Ltd, mined nearly six million tons in 1958. Bauxite exports were 5.8 million tons, alumina exports 373,000 tons, both together valued at £21,700,000 – 46 per cent of this territory’s export receipts in that year.
Since the beginning of operations in 1952, nearly 30 million tons of bauxite have been mined. Today, Jamaica is the largest bauxite producer in the world.
The industry’s direct contribution to the island’s general revenue has shown a phenomenal rise in the past four years. Royalties and income tax payments were £371,000 at the end of March 1957, rose to £2981,000 by March 1958, and climbed still higher to £4,453,000 at the end of March last year.
For feedback: contact the Editorial Department at onlinefeedback@gleanerjm.com.