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Metal manufacturer Alcoa (NYSE: AA), Pittsburgh, PA, will sell its ownership stake in the Jamalco bauxite mining and alumina refining joint venture to Noble Group Ltd for $140 million.
Alcoa World Alumina and Chemicals will continue as the managing operator for three years and employees will remain employed by Jamalco. The Jamalco joint venture is 55 percent owned by Alcoa Minerals of Jamaica and 45 percent owned by Clarendon Alumina Production Ltd.
Alcoa reported third-quarter earnings last week.