| Canadian-owned First Bauxite Corporation has signed an agreement with the Guyana Government to explore for bauxite in the Berbice area.According to a statement from First Bauxite yesterday, the agreement was signed in April 22 with the Ministry of Natural Resources and the Environment and allows the firm to apply during the next three years of the Permission for Geological and Geophysical Survey (PGGS) for up to 12 Prospecting Licences.Currently, Russian-owned UC Rusal has bauxite mining operating in Aroaima and Kwakwani, Upper Berbice River.“Once the conditions of the PGGS have been met,NFL Jerseys China, the Minister is obliged to grant such licences.”On October 20, 2010, First Bauxite announced that it had acquired Bauxite Corporation of Guyana Inc. (“BCGI”),Cheap Jerseys From China, which held the rights to two Tarakulli Prospecting Licences (“Tarakulli PL’s) hosting the Tarakulli bauxite deposit in Guyana.“The two Tarakulli PL’s were initially granted on September 7, 2007. Prior to their expiration in 2011,Cheap NFL Jerseys, the Company, through its 100 per cent owned local subsidiary, Guyana Industrial Minerals Inc. (“Ginmin”), applied to the Minister for a Tarakulli-Canje PGGS over a wider area which included the two former Tarakulli PL’s and has now been informed of its successful bid.”The agreement signed last month would essentially also allow Ginmin a 50-year industrial land lease over 1,197 acres of state land adjacent to the community of Sand Hills, Demerara River. “The Bonasika Sinter plant with support facilities including bauxite ore stockpiles and storage areas will be located on the lease,” First Bauxite said in its announcement.The Tarakulli bauxite deposit is located approximately 15 km west of the Corentyne River, which is the border between Guyana and Suriname, and approximately 90 km east of the Aroaima-Kwakwani bauxite mines, which are owned and operated by UC Rusal,Wholesale Nike NFL Jerseys, the world’s largest aluminum and alumina producer.The Tarakulli deposit was discovered by Reynolds Metals Company (USA) (“Reynolds Metals”) in the 1960’s based on drilling more than 700 holes on an approximate 500 x 500 m grid.The Canje deposit,Cheap Jerseys NFL China, some 34km northwest of Tarakulli, was also drilled by Reynolds Metals in the 1960s.First bauxite is now moving to seek financing to develop the Bonasika Mine and refractory bauxite Sinter Plant at Sand Hills on the Demerara River.First Bauxite is a Canadian natural resource company engaged in the exploration and development of bauxite deposits in Guyana but has its head office in Toronto.Bauxite production is up again after falling in the 70s due to poor world prices. It led to hardships to especially the residents of Region Ten where the bauxite deposits are.However,Wholesale Jerseys China, the administration has since managed to attract UC Rusal and Bosai, a Chinese company operating in Linden. |
