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Prime Minister Hinds Expects Russia Bauxite Investment in Guyana

Guyana's Prime Minister, Sam Hinds, expressed optimism that the Bauxite Mining Industry could see a new player, the Russian Aluminum Company (RUSAL), by January 2005 in Guyana.

A release from the Government Information Agency (GINA) stated that the bauxite project could "supply six million tonnes of metallurgical bauxite mined in the Berbice area" pursuant to a Memorandum of Understanding signed in February 2004.

In the long run the project has the potential of "possible mining of five million tonnes of bauxite in the first year in the Linden-Ituni area" a project which could cost US$1 billion and would include the establishment of an alumina plant by 2007.

Prime Minister Hinds is quoted as believing that upon a successful outcome of the feasibility studies, construction on the longer term project "can begin in 2007 and be completed by 2010 and alumina production could begin in 2011". However, GINA says that "this phase of the project could begin as early as 2006".

Mr. Hinds said the Guyana -RUSAL joint venture "could inject new life into Guyana's bauxite mining industry and would be the single largest investment to the economy in the history of Guyana." Also, he said "it would also see the creation of 4,000 jobs during the construction phase and about 2500 when production begins."

This is very positive news for an industry that has been in decline for many years following the nationalization of the industry in 1971, as reported by Caribbean Graphic ONLINE. A Press release from Cambior stated that: "OBMI has been created to give effect to the privatization and will be owned 70% by Cambior and 30% by the Government of Guyana. The Government of Guyana will contribute the processing plant and service facilities, the Montgomery mine with mineral reserves of 62 million tonnes of bauxite at 60% Al203, and other mining leases and prospecting licenses on additional bauxite resources in the Linden area. Cambior will invest an amount of $10 million to acquire a 70% interest".

Guyana's refugees from Grenada

Guyana's Head of the Presidential Secretariat, Dr Roger Luncheon, is expected to divulge the number of Guyanese to be repatriated from Grenada when he return home. The first batch that Guyana will evacuate is scheduled to leave Point Salines Airport, Grenada on Friday, October 8th on a BWIA Charter flight.

Dr Luncheon, the first high-ranking Guyanese official to visit Grenada was in the country to "to assess logistical arrangements for the evacuation of Guyanese and the deployment of soldiers", according to a GINA release. Guyanese who will be arriving on the first flight are among those who were hardest hit by Hurricane Ivan. They lost their homes, belongings and jobs.

Guyana's Honorary Consul, Deodat Singh had estimated that about 2,000 Guyanese were in Grenada, some illegally. It is estimated that there are 400 Guyanese trying to return home and this would necessitate two additional flights to accommodate them.

However, Guyanese working with the Grenadian government, the judiciary, the health and the public service decided to remain in the country to help with reconstruction.

According to GINA, the government through the Ministry of Education has indicated its readiness to accommodate 50 secondary school children to write the Caribbean Examinations Council examinations.

Grenada's NERO said that a comprehensive macro socio-economic assessment of the impact of the hurricane on Grenada has been completed and damage has been estimated at US$1 billion.