Guyana Has US$1 Billion In Untapped Bauxite Potential

• Despite past challenges, Guyana’s bauxite industry is poised to make a notable ‘comeback’, thanks to its substantial amounts of minerals yet to be extracted. Currently, the country’s bauxite reserves alone are estimated to be worth close to US$1Bn. 
• Notably, although Guyana has been producing top-tier bauxite for decades, it is yet to become a notable aluminium producer; however, this could soon change, as the government pushes ahead to implement a comprehensive energy mix, using ‘renewables’ such as wind, solar, ‘hydro’ and natural gases to produce alternative energy, thereby making manufacturing investments feasible across a myriad of sectors including mining. 
• With the government’s efforts to reduce the cost of electricity, the establishment of a smelter factory would not only be possible, but financially viable as well. Smelting is a process that uses heat and a chemical-reducing agent to decompose the ore, driving off other elements as gasses, or slag, and leaving just the metal behind. A smelter operation would also present the need for an aluminium plant, which would convert the extracted bauxite into aluminium. 
• The government of Guyana has indicated that it is aware of the critical role of the mining sector in the economy, and will continue to invest in, and promote, the expansion of the sector, while also being mindful of the challenges and vulnerabilities, as illustrated during the 2021 floods when operating sites and access roads were inundated and rendered impassable for an extended time. Meanwhile, in its entirety, the mining and quarrying sector is forecast to grow by 86 per cent in 2022, driven by expansion across all subsectors, namely petroleum, gold and bauxite, along with other mining and quarrying.

 (Source: Guyana Chronicle)