Bauxite projected to bounce back in 2018
DPI, GUYANA, Monday, November 27, 2017
The bauxite industry is likely to see improvements in its performance with the increase in world demand for aluminum, and the construction of a new mine in 2018.
The construction of a mine at Bonasika next year is anticipated to benefit the industry with added productive capacity, Minister of Finance Winston Jordan noted. Approximately US$50 million is expected to be sunk into this project, which is expected to employ more than 150 workers.
Production is scheduled to begin in 2019 with some 300-400 individuals from Matthews Ridge and surrounding communities benefiting from employment.
Minister of Finance Winston Jordan today outlined the performance and projections for the mining sector, during his presentation of the 2018 National Budget, to the National Assembly.
However, 2017 production is projected to decline to 1,417,557 tonnes as a result of inclement weather and mechanical problems that resulted in significant down time.
By: Tiffny Rhodius