BCGI signs U.S. multimillion-dollar licence expansion pact

The Guyana Geology and Mines Commission (GGMC) under the Natural Resources and Environment Ministry on last Tuesday signed a U. S. multimillion-dollar investment with the Bauxite Company of Guyana Inc, a subsidiary of RUSAL, Russia’s aluminium giant, for a 20-year mining licence for Block 38 deposit. The expansion will lead to more jobs, which is a realisation of a promise made by President Donald Ramotar, the ministry said in a release.

Natural Resources and Environment Minister Robert Persaud, Permanent Secretary Joslyn McKenzie, GGMC Board Chairman Eton Chester, acting GGMC Commissioner Karen Livan, GGMC Deputy Commissioner Rickford Vieira, and BCGI Finance Manager Laziz Mardonov, along with other officials, witnessed the signing of the licence. This is in conjunction with government’s intention to expand Region 10’s economic activities for social improvement.
Minister Persaud has aggressively been pushing the major companies to expand and invest more in Guyana’s bauxite industry and the mining sector, and to develop more community-based projects while utilising better mining practices.
The prospecting licence covers a total area of approximately 12,711 acres and is located approximately 69 kilometres south-southeast of Linden and 27.4 kilometres north-northeast of Ituni, along the Linden-Ituni Road on the east bank of the Demerara River.
Exploration work was carried out in 1976 by Guyana Mining Enterprise (GUYMINE) Limited (previously DEMBA), and the total bauxite reserve was estimated at 110 million tonnes. The average ore grade is: Al2O3-59.33, SiO2-5.61. The thickness of the bauxite is 5.42 metres and the overburden to be removed is approximately 58.65m. The deposit consists of three main ore bodies, Bada, Aruima and Cocorite.
The signing of the agreement is as a result of Minister Persaud’s interaction early last month with residents of Kwakwani and surrounding communities where calls were made to create opportunities for residents to benefit and the communities to develop.
Minister Persaud had then engaged RUSAL’s executive and highlighted some of the concerns raised at the community meeting in Kwakwani that centred on the company’s relationship with residents.
Minister Persaud has since urged the company and the communities to foster greater dialogue and greater interaction, with both sides understanding the issues. The company has given the assurance that it will undertake to look at ways in which it can improve its services in the community.