First Bauxite Corporation provides an update on its bauxite project

First Bauxite Corporation (FBX) has provided an update on its bauxite project at Bonasika in Cuyuni-Mazaruni (Region Seven), Guyana. The project with an investment of approximately US$50M is due to begin next year, according to the Ministry of the Presidency press release.

Guyana’s Minister of State Mr. Joseph Harmon received a courtesy call on August 24 from Executive members of the First Bauxite Corporation (FBX) at the Ministry of the Presidency.  The company updated him on their bauxite project.

Mr. Alan Roughead, President and Chief Executive Officer of FBX, said that the construction of the bauxite project will begin next year and production twelve months thereafter. The company spend US$20M on developing the bauxite resource, and has completed three feasibility studies. The company also conducted two major production trials in Guyana.

Harmon said, “We are committed to investment in Guyana. We are on a path of fresh approaches as the Minister of Finance loves to say and we want to expedite the systems so that it does not hinder investments. The quality of services must be improved.”

First Bauxite Corporation, a Canadian natural resources company, engaged in the exploration and development of bauxite deposits Guyana, South America.