Bauxite production to increase by 400,000 tonnes this year
Guyana will see bauxite production increase by 400,000 tonnes this year due to the massive government interventions in the sector.
In 2024, bauxite production increased by 250,000 tonnes, according to President Dr Mohamed Irfaan Ali.
During a live broadcast on Sunday, the president said the sector collapsed during the previous government’s tenure due to mismanagement.
Between 2014 and 2020, the sector experienced a 40 per cent slump in production that led to the decline of half of its workforce being put out of a job.
The president emphasised that these job losses primarily affected residents of Region Ten, an area historically known as an opposition stronghold.
“Since the PPP/Civic assumed office, a number of steps were taken by our government to reduce costs, broaden product range, and increase production because that was the important thing for us. We had to build back the sector,” he said.
The Guyanese leader continued, “At the end of 2024, we had an increase of 250,000 tonnes. And this year, we’re looking at a further increase of 400,000 tonnes. Our exports for 2024 are projected at US$163 million.”
President Ali stated that additional investment by BOSAI Mineral Group will also result in a drastic hike in production.
“This bauxite company also undertook to construct a $470 million aluminum plant. They’ve made a commitment that with expanded production and the cost of energy coming down, they are looking at the expansion and building of an aluminum plant in the future,” he added.
With over 500 employees added to the sector in 2024, President Ali said another 500 jobs will be added this year as the industry recovers.
“In addition to this, the company is working to reduce energy costs by installing a solar system. And of course, we have worked consistently with the company to protect their rights and improve the conditions of service for the workers in these mining companies,” the head of state stated.
President Ali pledged that his administration will continue to formulate policies, create opportunities and incentives to foster growth and boost production for small, medium-sized and large scale producers and operators.