Bauxite privatisation bids deadline extended
The deadline for bids to privatise the operations of the bauxite sector in Guyana has been further extended by one month. The new deadline is October 31, when five companies are expected to submit bids for control of the Linden Mining Enterprise (Linmine) or the Berbice Mining Enterprise (Bermine) or both. The deadline had to be extended because the Privatisation Unit was unable to serve the potential bidders with the draft agreements required for them to submit their bids. The initial deadline for bids for Linmine was July 31, but this was extended after Bermine was placed on the market and bids for both enterprises were to reach the Privatisation Unit at the end of August. However, the Unit, engrossed with the privatisation transaction for the power company, fell back in making available the relevant bid documents to the potential bidders, sources say. Those who expressed interest in Linmine are Alcoa World Alumina, Billiton, Harbison Walker and Possehl as part of a large consortium and a local consortium RASC 2000. The three international players along with Reynolds International have also expressed interest in acquiring control of Bermine. However, since those expressions of interest came in, Alcoa has been involved in a massive takeover of Reynolds and it is not certain how this will affect the bids coming in or Reynolds' operations in Guyana. Reynolds is a 50% joint-venture partner with the government in the Aroaima Mining Company and has recently taken over the operations of Green Mining Company.
|