Alpart announces suspension of operations

Alpart (Alumina Partners of Jamaica), owned 65% by RUSAL and 35% by Hydro Aluminium, has announced that owing to the continuing severe decline in the global aluminum industry and the corresponding reduction of alumina demand worldwide, the company will temporarily suspend operations at its mining and refinery operations in Jamaica for a period no less than 12 months commencing May 15th, 2009. Alumina product has experienced a drastic 60% price reversal since July 2008. Approximately 900 permanent employees will be made redundant.

However in spite of the efforts to reduce production costs and increase the efficiency of the company, under the current economic conditions the company has to temporarily suspend its operations. The temporary shutdown will allow Alpart to be prepared for future developments that may see the industry emerge from the present situation.

The company will meet its obligations to employees and communities in a timely manner during this period and continue to be a responsible corporate partner.

Alpart is a bauxite mining and alumina processing company operating in Jamaica.