Investment plan pivotal for bauxite-rich Block 37
Stakeholders say bauxite-rich Block 37, which was recently withdrawn from Chinese company Bosai, should not be granted for exploitation until an investment plan affording maximum benefits for Guyanese is submitted.
During the recently concluded 2014 budget debate, Natural Resources Minis-ter Robert Persaud told the National Assembly that government has decided to retain Block 37 as opposed to granting Bosai Minerals Group Guyana Inc. (BMGGI) the deposit’s concession contract, as per previous intent.
The minister said the decision was taken after Bosai adjusted its business plan and investment proposal. Talks of granting Bosai the concession started as far back as 2007 when then President Bharat Jagdeo had said the mineral-rich deposit would be granted to the company with intentions to develop Block 37, …..To continue reading, login or subscribe now.