THE ISLANDS OF THE CARIBBEAN MINERALS YEARBOOK—1988  1007without
an
agreement with the Government at that time was Kaiser. 
 During the year, Kaiser and Hydro Aluminium A.S., a subsidiary of Norsk
Hydro A/S of Norway, became partners in Aluminum Partners of Jamaica (Alpart).
Hydro acquired 25°lo in the alumina plant previously owned by Kaiser
(50%) and Reynolds Metal Co. (50¾). Kaiser then became the majority
owner by purchasing the remaining 25¾ equity from Reynolds. Hydro
then purchased an additional 10°7o from Kaiser. Agreements to begin
production
were signed in December. Hydro, with no other refinery, would supply its
smelters with its share of Alpart's alumina. The mining lease for Alpart,
closed since 1985, was cancelled by the Government at yearend 
1987. 
 The Government of Jamaica and Canada (through the Canadian International
Development Agency) in recent years funded a geochemical survey oriented
towards the discovery and potential development of metallic minerals in Jamaica
such as antimony, cobait, copper, gold, lead, molybdenum, nickel, platinum,
silver, and zinc. Resuits of the survey were close to being released simultaneously
in Jamaica and Canada at yearend. The purpose of the survey was to stimulate
exploration and development of Jamaica's resources by domestic and foreign
private companies. 
 With the financial assistance of the 1DB, the Caribbean Cement Co. in Kingston,
sold by the Government in 1987 under its divestment program, completed its
energy conversion and expansion program in November 1988. The 1DB had approved
two loans in 1981 totaling $57.2 million for the project. Total cost of the
project was estimated at $110 million and consisted of the installation of
a 1,300-ton-per-day dry-process production line and power generation equipment.
The new 430,000-ton-capacity coal-fired kiln, installed in 1987, became operational
in 1988, and the existing 200,000-ton kiln fuel oil system was converted
to coal firing. Also, all three of the formerly existing engines were retrofitted

from marine diesel oil to the lessexpensive bunker C oil. At current prices,
with these changes and the dual purpose burner (designed to use both oil
and coal), Caribbean Cement expected to reduce energy consumption by 40°lo.

 The Government, with assistance from the United Nations Development Program,
has been working on an industrial minerals exploration and development project.
During 1988, the second phase of the three-phase project was completed. The
third phase was expected to be completed in 18 months. Phase 2 focused on
promoting joint ventures to develop industrial minerals. The Government,
through the Geological Survey Division (GSD), assisted local firms and foreign
investors by providing technical assistance and geological data to potential
investors. 
 Production of limestone increased slightly in 1988. According to the Planning
Institute of Jamaica, exports of limestone totaled 89,000 tons. Efforts to
increase exports, especially to the United States, continued although the
industry is faced with several problems, such as high transportation costs,
utilization of same pier as passenger cruise ships, and inadequate storage
facilities. Jamaica's limestone resources were estimated at over 150 billion
tons. According to usage, 7.5 billion tons are of high-grade filler type
with greater than 98¾ calcium carbonate content, 30 billion to
45
billion tons are of chemical and metallurgical grade, and 100 billion tons
are usable as aggregate. During the year, investigation of additional high-purity,
high-brightness deposits continued in Westmoreland, St. Elizabeth, and Portland.

 According to the Planning Institute, the number of marble producers in Jamaica
rose from two to four, and production increased more than fourfold. Jamaica's
identified marble reserves were estimated at 146 million cubic meters. 
 Jamaica's energy policy was directed towards reducing oil imports, diversification,
development of local energy 
sources, and energy conservation. 
 
 
TRINIDAD AND TOBAGO 
 
 Trinidad and Tobago's economic output declined by an estimated 4¾
in 1988. The Government continued to seek out solutions for a troubled economy
heavily dependent on petroleum export revenues. The country found itself
under austerity measures, attempting to restructure its foreign debt, in
light of exhausted foreign exch.ange reserves. In June, the foreign exchange
reserves fell to $20 million, equivalent to less than 1 week of imports.
~ Unemployment during the year was high and increasing, and the currency
was devaluated by 18¾ in August against the U.S. dollar. Some
Government
salaries were cut and subsidies to state companies reduced. As part of the
Government's short-term economic recovery plan, the Prime Minister, on January
8 announced a tax reduction program to encourage an increase in oil production,
which has been in decline since 1978, except for small increases in 
1984—85. Diversification, led by foreign investment in agriculture,
tourism, and petrochemicals, is part of the long-term economic recovery plan.

 In November, the Prime Minister announced to the Parliament that part of
Trinidad and Tobago's commercial foreign debt had been successfully rescheduled
and that the IMF had approved the Government's request for compensatory financing
facility funds, which was base on reduced oil earnings. 
 During the year, the 1DB approved a $5.7 million9 loan to finance a program
of preinvestment studies for projects of high priority. The Ministry of Planning
and Mobilization, the program administrator, was to finance general studies,
prefeasibility and feasibility studies, and engineering designs. The program
included a feasibility study to improve the Point-a-Pierre petroleum refinery
and a prefeasibility study for a plant in