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Guyana’s bauxite industry on sound footing
Edited by : AL CIRCLE
3 min read
The Ministry of Natural Resources and the Environment through the Bauxite Unit of the Guyana Geology and Mines Commission (GGMC) has responded to A Partnership for National Unity for misrepresenting a number of issues relating to bauxite development, particularly within Region Ten.
The Ministry was responding to comments made by APNU’s Executive, Lance Carberry and Region Ten Chairman, Sharma Solomon where bauxite companies RUSAL and BOSAI were accused of tying up most of the bauxite reserves and not fulfilling its commitment in terms of production.
According to Solomon, the Regional Administration reserves the right to be involved in discussions concerning the reserves with a view of “fashioning and shaping how we budget in the Region as we believe that a portion of anything that comes from those deposits ….must go towards the development of the region and be in the interest of the people.”
However, a media release issued by the Ministry of Natural Resources and the Environment stated that recently, there has been an increase by companies, firms and stakeholders in Guyana’s Bauxite Industry. As such, Bosai Mineral Guyana Inc. has already expressed their willingness to expand their operations creating over 400 new jobs for the residents of Linden and its environs, as well as investing in an apprenticeship programme set to commence in 2013. It was pointed out that Bosai Mineral Guyana Inc. will be expanding its Linden operations with the intention of facilitating new products on the bauxite market.
Further, there are also application by a number of companies for Prospecting Licences for Bauxite ore deposits in Regions 3, 6 and 10, and decisions made based on sound and technical evaluation taken into account the need to maximize benefits to Guyana.
INEWS understands, that the Government of Guyana and the Guyana Geology and Mines Commission will continue to ensure that the legal and mining agreement are upheld through increased monitoring as well as enhanced dialogue and interaction. To facilitate this, earlier this year a Bauxite Unit was created in the GGMC to provide greater administrative and technical oversight of the bauxite industry.
Additionally, there is greater optimism about the future of bauxite after many years BOSAI and RUSAL have over the past several years invested more than US $300 M and is forecast to invest another US $150 M in the coming period. First Bauxite intends to invest in excess of a US $180 M, this will see hundreds of new jobs in Region 10 and elsewhere.
Meanwhile, the government expressed its commitment to continue to engage investors on the establishment of an alumina plant in Guyana.
The Ministry was responding to comments made by APNU’s Executive, Lance Carberry and Region Ten Chairman, Sharma Solomon where bauxite companies RUSAL and BOSAI were accused of tying up most of the bauxite reserves and not fulfilling its commitment in terms of production.
According to Solomon, the Regional Administration reserves the right to be involved in discussions concerning the reserves with a view of “fashioning and shaping how we budget in the Region as we believe that a portion of anything that comes from those deposits ….must go towards the development of the region and be in the interest of the people.”
However, a media release issued by the Ministry of Natural Resources and the Environment stated that recently, there has been an increase by companies, firms and stakeholders in Guyana’s Bauxite Industry. As such, Bosai Mineral Guyana Inc. has already expressed their willingness to expand their operations creating over 400 new jobs for the residents of Linden and its environs, as well as investing in an apprenticeship programme set to commence in 2013. It was pointed out that Bosai Mineral Guyana Inc. will be expanding its Linden operations with the intention of facilitating new products on the bauxite market.
Further, there are also application by a number of companies for Prospecting Licences for Bauxite ore deposits in Regions 3, 6 and 10, and decisions made based on sound and technical evaluation taken into account the need to maximize benefits to Guyana.
INEWS understands, that the Government of Guyana and the Guyana Geology and Mines Commission will continue to ensure that the legal and mining agreement are upheld through increased monitoring as well as enhanced dialogue and interaction. To facilitate this, earlier this year a Bauxite Unit was created in the GGMC to provide greater administrative and technical oversight of the bauxite industry.
Additionally, there is greater optimism about the future of bauxite after many years BOSAI and RUSAL have over the past several years invested more than US $300 M and is forecast to invest another US $150 M in the coming period. First Bauxite intends to invest in excess of a US $180 M, this will see hundreds of new jobs in Region 10 and elsewhere.
Meanwhile, the government expressed its commitment to continue to engage investors on the establishment of an alumina plant in Guyana.
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