Business
Jamaica: Scrap metal trade to resume in early 2013
The scrap metal trade which was suspended in Jamaica eighteen months ago is now scheduled to resume early in the New Year.
Industry Minister, Anthony Hylton who made the announcement on Wednesday said the trade will re-start in the third week of January under far more stringent measures aimed at curbing widespread theft which led to the ban last year.
Under the new regime, exporters, individuals and companies will now be required to post a J$7-million (US$ 76,000) bond, a portion of which will be used to compensate victims of theft.
Scrap material will be on display at the sites for five days to facilitate public viewing before the loading of containers can commence.
According to Hylton there will be a distinction between industrial scrap generated by companies from their manufacturing operations and non-industrial scrap, which is purchased from individuals.
“Anything remotely suspect will be detained for investigation by the police and customs for an additional 10 days, to allow for viewing by the public,” Hylton said, adding that a website will be set up for the public to view and lodge complaints of theft.
Restrictions have also been imposed on the exportation of copper, irrigation pipes, manhole covers, railway lines and sign posts.
