1.7 million tonnes of bauxite produced in 2024

Guyana’s bauxite industry is experiencing a significant resurgence. The 1.7 million tonnes of bauxite that was produced in 2024 represents a 225 per cent increase when compared to 2023.

During a press briefing on Tuesday, the Minister of Natural Resources, Vickram Bharrat, described the level of production as a remarkable turnaround of a sector that he said was in decline.

He noted that a rigorous effort was made to revitalize the industry, which was still reeling from the withdrawal of the Bauxite Company of Guyana Inc (Rusal) when the PPP/C government assumed office in 2020.

“Bauxite has been a success story over the last few years. In 2023, the production of bauxite was at 523,732 tonnes,” the natural resources minister disclosed.

Between 2014 and 2020, the sector experienced a 40 per cent slump in production and half of its workforce was laid-off.

Minister Bharrat said the loss of some 500 jobs hit families and communities hard in Linden, Ituni and Kwakwani in Region Ten.

Today, more than 1,000 Guyanese are employed in the sector.

According to the minister, the hike in production and employment is largely attributed to increased investment by BOSAI Mineral Group, which has committed to expanding its operations in Region Ten.

“That is an increase of about 300 persons in 2024. We will continue to see significant investment by the company,” he noted.

Minister Bharrat noted that the company has invested in barges to transport ore to its transshipment point located a few miles off Guyana’s shore.

This development, he added, enables the shipment of larger quantities of ore from Guyana to its destinations abroad. (DPI)