Special unit to oversee expansion of bauxite operations, investments

Apr 11, 2012 News

Amidst positive trends and increasing demands for Guyana’s bauxite,

A special unit to oversee bauxite development in Guyana has been created, government announced yesterday.

government yesterday announced the creation of a Bauxite Development Unit within the Guyana Geology and Mines Commission (GGMC).
The special unit has been mandated to coordinate, oversee and assist in making recommendations related to all aspects of the economic, social, environmental and occupation health and safety issues pertinent to exploration, development, mining and promotion of bauxite resources in Guyana, the Ministry of Natural Resources and the Environment said yesterday. “This decision was taken in light of expansion and expanding investment by Bauxite Company of Guyana Inc. and Bosai Minerals Group (Guyana) Inc., and the impending First Bauxite Inc. at Bonasika with an investment in excess of US$120 million.”
The unit will also help to coordinate the development of objectives, strategies and operational plans for the development of the bauxite resources of Guyana and will include an economist, a geologist and a mining engineer, all elements that are relevant to the development of the bauxite resources in Guyana, the Ministry said.
Following a drop in bauxite prices in the ‘80s and ‘90s, there was not much interest in the sector until RUSAL, a Russian-owned company, re-entered Guyana a few years ago, taking over the Aroaima and Kwakwani operations in Upper Berbice, Region 10.
The board of the GGMC will also be expected to have enhanced engagement on bauxite development issues.
Recently, the Minister of Natural Resources and the Environment, Robert Persaud, met with BOSAI when the company announced additional investment for the mining of ore and the construction of a third kiln at an estimated cost of US$40 million and more than US$57 million respectively, a total of almost US$100 million for Linden, Region 10.
Yesterday, the Minister met with executives of Bauxite Company of Guyana Inc. (BCGI) – the local operating company of RUSAL, to discuss investment of US$30 million in 2012 and US$80 million over the next four years to increase job creation opportunities in the Berbice River.