PM optimistic about bauxite resurgence
By Chamanlall Naipaul
Guyana Chronicle
February 10, 2007
PRIME Minister Samuel Hinds is optimistic about a resurgence of the bauxite industry with the proposed investments from Russia’s RUSAL, the world’s largest aluminium producer, and China’s Bosai.
During his contribution to the debate on the 2007 budget in the National Assembly yesterday, he said the proposal by the two companies to move into hydropower and the establishment of smelters, would mark a significant expansion of the local mining industry and create a large number of jobs for Guyanese.
President Bharrat Jagdeo, on a recent visit to Russia, held discussions with President Vladimir Putin and officials of RUSAL and other Russian entrepreneurs with respect to investment opportunities in Guyana.
On the sale of shares of IAMGOLD, the major shareholder in the Omai Bauxite Mining Company to Bosai of China, the Prime Minister assured that the government is working to have the matter resolved in a cordial manner and to ensure that there are safeguards to protect the interests of workers.
Mr. Hinds debunked claims that the government is moving to shut down small gold miners, explaining that on the contrary the Guyana Gold Board is actually facilitating them, to protect them.
However, he said the Guyana Geology and Mines Commission (GGMC) is keeping a close watch on the negative effects of mining on the environment.
In this regard, he said extensive training is ongoing and in addition efforts are being made to control the spread of Sexually Transmitted Diseases, including HIV/AIDS, and malaria in the mining communities.
In relation to oil exploration, the Prime Minister said that by June this year, four companies will begin onshore exploration while a fifth will begin offshore exploration.
But he said in the meantime there are some indications of the presence of natural gas on the two Essequibo Islands of Leguan and Wakenaam.
However, he said greater study and analysis have to be carried out to determine if the finds are sustainable and commercially feasible.
Great prospects are ahead with respect to the production of bio-diesel, ethanol and hydropower, he added.
The field of telecommunications, which according to him can significantly change the economic landscape of Guyana, continues to grow despite the monopoly on land lines and international transmission held by the Guyana Telephone and Telegraph (GT&T) company.
The Prime Minister noted that with the coming on stream of DIGICEL this sector has received a further boost in addition to the continuous establishment of call centres.
He also expressed optimism that consumers would benefit from lower cellular phone rates as the Public Utilities Commission (PUC) has instituted a flexible rate with a minimum and maximum rate, neither of which can be breached.