Guyana 2024: Bauxite mining outmatches 225% as compared to 2023

The Guyana Government has revealed that the bauxite mining business is back with a bang as 2024 witnessed a new high of production inflation amounting to 225 per cent as compared to 2023, with 1.7 million tonnes produced from the two overseas companies that mine in the nation. “Bauxite has been a success story over the last few years. In 2023, the production of bauxite was at 523,732 tonnes,” Minister of Natural Resources Vickram Bharrat said during his ministry’s annual review press conference.

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Earlier in January, Dr Mohamed Irfaan Ali, President of Guyana, proudly commented during his official statement on the substantial improvement of bauxite production in the country during his tenure. In his statement, he mentioned the distressful time before his tenure wherein both bauxite and forestry suffered immaculately owing to the APNU+AFC administration’s poor management.

Providing some insight into the sector, the Minister reiterated much of what President Irfaan Ali stated earlier, recording that while the withdrawal of the Russian-owned RUSAL led to a 40 per cent reduction in production and the loss of over 500 jobs, revitalisation by the two companies has now resulted in double that number being employed.

Ali had suggested that the government remains optimistic about the prospects for increased bauxite production this year, as the Bosai Minerals Group has been allocated additional land for mining. This is expected to increase output to 250,000 tonnes in 2025 and 400,000 tonnes in 2026, with 1,000 people employed by March.

As per an exclusive regional media request, Mr Bharrat has provided the production figures of the two bauxite-producing companies here over the past five years.