-in wake of COVID-19
local employees and four expatriates.
“We have a very strong focus on local content and (are) patronizing the local supply chain and building on the relationships we have,” he posited.
The Bonasika Bauxite Project is expected to deliver an annual production of 320,000 metric tonnes of washed bauxite when producing at full capacity. Tests have shown that the bauxite ore found in the mine is the purest in the world and can be used to develop high level tertiary products for very specialized needs.
At the commissioning of the project on February 20th last year, it was announced that the lifespan of the mine is projected to be between 15 and 17 years, although the company has said other operations will further extend the company’s presence in the country to about 25 years. A total of US$387 million is expected to be injected into the local economy within the estimated 15 years of operation.
Guyana is expected to earn a total of US$49.8 million during the estimated 15 years of operations, including a 3% royalty pegged to work out to be US$6.4 million, a mining licence fee of US$1.42 Million, Employee PAYE (Pay As You Earn) taxes of US$18.95 million, as well as Withholding Tax and Company Tax of US$5.53 million and US$17.47 million, respectively.
The FBX website states that the company produces high grade, low impurity bauxite with raw ore alumina contents at 63 percent and, when sintered, over 93% alumina. This fills the niche in the alumina range between 87-88% typical bauxites and more expensive high grade aluminas, such as brown-fused alumina. Applications for First Bauxite’s alumina include water treatment, refractories, Ultra High Strength Proppants, welding applications, certain abrasive markets, and steelmaking slags.
The high grade bauxite is not a replacement for ordinary non-metallurgical bauxites and not even for other Guyanese bauxites which are lower in alumina or higher in iron. The extremely low impurities make this bauxite stand out in a class of its own, the company added.