Guyana’s bauxite mining sector has seen a 225% increase in production for 2024 compared to 2023, with the output reaching 1.7 million tonnes. President Ali and Minister Bharrat emphasized the significant recovery in production and employment after previous downturns. The future looks bright as additional land has been allocated to boost production further in the coming years.
The Government of Guyana has reported a significant surge in bauxite mining for 2024, revealing a 225% increase in production compared to 2023, reaching 1.7 million tonnes from two foreign-operated mining companies. Minister of Natural Resources Vickram Bharrat highlighted the success of the sector, noting production in 2023 was merely 523,732 tonnes.
President Dr. Mohamed Irfaan Ali praised the recovery of the bauxite industry during his leadership, contrasting the current achievements with prior declines caused by the APNU+AFC administration’s management failures in both bauxite and forestry sectors.
Minister Bharrat echoed President Ali’s sentiments, discussing the adverse impacts of the withdrawal of Russian-owned RUSAL, which caused a 40% drop in production and the loss of over 500 jobs. Nevertheless, employment opportunities have now doubled through the revitalization efforts of the current operational companies.
Looking ahead, President Ali reflected optimism for ongoing growth in bauxite production, specifically after granting the Bosai Minerals Group additional land for mining, which is projected to produce up to 250,000 tonnes by 2025 and 400,000 tonnes by 2026, creating 1,000 jobs by March.
The Minister provided an exclusive five-year production overview for the two bauxite companies, displaying a positive trend in output and employment following the governmental support for the sector.
In summary, Guyana’s bauxite industry is experiencing a remarkable recovery with a 225% increase in production for 2024. The government’s strategic measures and resource allocation are expected to further boost output and employment, signaling a strong future for this critical sector.
Original Source: www.alcircle.com
