US-based Century Aluminum Company announced that it has reached an agreement with Noble Group Holdings Limited to acquire its 55% interest in Jamaica’s bauxite company Jamalco.

According to the terms of the agreement, Century Aluminum’s wholly owned subsidiary will acquire Noble’s subsidiary General Alumina Holdings Limited, which owns Noble’s 55% interest in Jamalco, for US$1.

The transaction was expected to be completed by the end of April 2023.

Jamalco has an annual production capacity of around 1.4 million tons of alumina and has more than 900 employees.