Ministers Audley Shaw and Aubyn Hill welcomed representatives from Vulcan Materials on Friday, April 28 at Reynold’s Pier in Ocho Rios.
The company, which is the USA’s largest producer of construction aggregates, made its second visit to Jamaica as part of a commercial arrangement where Jamaican-owned and operated Lydford Mining Company (LMC) will supply high-purity limestone aggregates to Vulcan.
As a result of major expansion currently underway, Lydford intends to export over 1.5 million tonnes of limestone aggregates by 2025. Speaking on the impact of such a massive export opportunity, Senator Aubyn Hill, Minister of Industry, Investment and Commerce said: “Export is an amazing topic at this time. When I looked at our trade data for our 60th anniversary of independence, there was only one year Jamaica had a positive trade balance. Companies like Lydford are important to our country, a company that is increasing its exports, that are all Jamaican owned, started with four employees and now is at one hundred and is still Jamaican owned; that is amazing and I applaud them.”
The high-purity limestone supplied to Vulcan will be used to remove toxic emissions from coal-fired power plants as part of the environmental requirements for the operation of such power plants. Vulcan brings synergies to its partnership with LMC through its logistical strengths in its vast network of sales, stockpiling, distribution and shipping resources to market LMC’s limestone aggregates. This will enhance their shared goal of growth and job development in the minerals industry of Jamaica.
Chief Strategy Officer at Vulcan Materials, Stan Bass, sees the partnership with Lydford as not only an opportunity for business but a knowledge-sharing venture.
“It takes a government as part of the team to say, I have a vision to expand my Congress and grow and give back, develop jobs and opportunities for growth. The value of this growth is what we are most excited about, being part of this team that supplies chemical grade limestone of great quality and helping Lydford reach their goal of 1.5 by 2025,” said Bass.
Director of Finance and Technical Service at Lydford Mining, Jackie Millington continued to express gratitude for the partnership with Vulcan and how this aids in their passion for being good corporate citizens.
“We are thrilled about the progress and the invaluable support from our partners at Vulcan. Although we are growing as a company with this partnership we are most excited about everyone that will benefit from this as well. With our plans for export, the port operators can see an increase in fees of up to $245 million. The entire Lydford/Golden Grove community will benefit; from the truckers, the local vendors and more. For us this is very important to be in a position to help others as we continue to do over the years,” said Millington.
The 70,000 tonnes motor vessel Donald M James which docked at Reynold’s Pier in Ocho Rios to load the second shipment from Lydford Mining is the largest mineral vessel to dock in Jamaica. It will carry approximately 55,000 tonnes of limestone with each journey, and with upgrades of the Port now being considered it is hoped that the vessel will be able to load the maximum capacity of 70,000 tonnes, thus improving efficiency and competitiveness.