Minister of State Joseph Harmon yesterday received a courtesy call from Executive members of the First Bauxite Corporation (FBX) during which he was updated on their project at Bonasika, Cuyuni-Mazaruni which is due to begin next year with an investment of approximately US$50M.
A release from the Ministry of the Presidency said that during the meeting, Alan Roughead, President and Chief Executive Officer of FBX, told Harmon that the company is looking forward to beginning construction of the project next year and production 12 months thereafter. The release said that the project is expected to provide employment for over 150 Guyanese.
FBX, the release said, started feasibility work on the Bonasika Project in 2008. Since then the company has disbursed US$20M on developing the bauxite deposit located in this area and has completed three feasibility studies. The company has also undertaken two major production trials here over the past two years.
Harmon said that the Government welcomes the investors and looks forward to the employment opportunities, which will be created for Guyanese, once the project gets started.
Larry Washow, Chairman of the Board of FBX; Bill White, Chief Financial Officer of FBX; Stanley Ming, Chairman of the Board of Directors of the Guyana Geology and Mines Commission (GGMC) and Robert Corbin, Legal Counsel of the company, also attended the meeting, the release said.