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.
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