The Russian firm Rusal, which owns Jamaica based alumina refinery, Windalco, has approved a new long-term aluminium supply contract, worth US$16.3 billion, with British multi-national commodity trading company Glencore.
Glencore has been one of the main clients of Rusal, and also owns a stake in Rusal's parent E N Plus Group.
Rusal noted that the new contract is for 2020 to 2024, with an option for it to be extended for another year.
According to Rusal, its board of directors approved the deal in December last year. It replaces a previous contract that expired in late 2018.