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Five Int’l firms bid to map out Guyana’s mineral hotspots
Kaieteur News – Five international companies from Canada, the United Kingdom (UK) and the United States of America (USA) have signalled their interest to provide consulting services to map out Guyana’s mineral hotspots.
Kaieteur News had previously reported that the Ministry of Natural Resources (MNR) issued a tender for the ‘Mineral Mapping Study of Guyana’s Mineral Resources targeting both traditional gold reserves and emerging non-traditional minerals.’
On Tuesday, it was revealed that the firms who submitted bids to the National Procurement and Tender Administration Board (NPTAB) office for the contract are: Watts, Griffis & McOuat Limited (WGM) of Canada. That company bid US$1,301,700 and GY$88,088,000; Technical Management Group Limited (TMG) in partnership with Purple Rock Inc. both of Canada submitted a bid totaling US$2,806,686; SLR Consulting Limited of the UK bid £156,976 (this sum does not include all fees and expenses); Global Venture Consulting of the USA bid US$1,981,218; and Oculus Geophysical Resources also of the USA submitted a bid for US$1,556,500.
The ministry in its advertisement had stated that the objective of the mineral mapping study is to close data gaps, reduce investment costs, foster diversification in the mining sector and enable more targeted investments from both small and medium scale miners.
Notably, it was explained that the identification and quantification of minerals is not the sole purpose of this mapping exercise, but it will also provide a comprehensive understanding of the significant multi-dimensional role of these minerals in the country’s development.
Kaieteur News reported that earlier this year, the National Assembly approved $400 million for Phase One of the mineral mapping project to be undertaken by the Natural Resources Ministry in the various mining areas in Guyana.
During the consideration of the 2024 Budget, Minister of Natural Resources, Vickram Bharrat explained to the Committee of Supply that the mineral mapping of the mining areas in Guyana is badly needed, since the current data is over 40 years. He added that the project will assist his ministry in making informed allocation of claims and mining blocks. The minister said too that it will also reduce the cost of prospecting and exploration, particularly for small and medium-scale miners.
Opposition Member of Parliament (MP), Shurwayne Holder had asked the specific areas the $400 million will cover for the mineral mapping and what other minerals besides gold and diamond the ministry will be surveying for.
In response, the Minister stated that in light of other critical elements being sought around the world to produce batteries and solar panels, the government will be surveying for same.
“We know that lithium is in big, big demand across the world…so it is a much sought after element around the world and we know that they are a few countries in South America producing lithium so we believe that they maybe a possibility that we do have that in the critical mineral here too… that’s why we are not only focused on gold and diamond,” Minister Bharrat said.
He disclosed that the team will be focusing on the Mazaruni, Puruni and North West District (NWD) mining districts during Phase One of the project.
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