Jamaica Bauxite Institute warns oil crisis will translate into higher production costs and inflationary pressure

Tensions around the Strait of Hormuz are rippling through Jamaica’s bauxite and alumina sector, raising production costs and feeding inflationary pressures, the Jamaica Bauxite Institute (JBI) warned in a notice on the weekend. “Jamaica may be far from the Middle East geographically, but it is closely tied to global markets,” the institute said. “The disruption in the Strait of Hormuz is a reminder that when energy flows are threatened, the effects are felt everywhere, from petrol prices to industrial production.”