Minister of Finance Dr. Ashni Singh during his budget presentation last Monday acknowledged that Guyana’s bauxite fortunes continue to be mixed with Bosai’s operations benefiting from strong prices of over $US400 per tonne while Bauxite Company of Guyana Inc. struggled with high production costs.
Noting that the bauxite industry recorded growth in value added of 12.5 percent in 2012, the Minister said that production for last year was 2,213,972 tonnes with the highest rate of increase achieved in the production of cement grade bauxite.
The Minister pointed out that Government has worked hard to attract “credible international investors” to the local bauxite industry and to ensure they maintain their operations even in the most hostile of external conditions.
“At a time when bauxite plants around the world and even in our Region have been closing operations,
