Govt. floats giving more incentives to Chinese manganese company, diamond miners amid low market prices – Min. Bharrat
Minister of Natural Resources, Vickram Bharrat
Kaieteur News – Minister of Natural Resources, Vickram Bharrat, on Wednesday highlighted the importance of the Government of Guyana (GoG) supporting companies operating in Guyana’s manganese and diamond sectors given the challenges posed by unfavourable global market prices.
Speaking at an event, Bharrat stated, “The manganese company [Chinese owned Guyana Manganese Inc. (GMI)] too has been producing in Region One, unfortunately like diamond, the prices in the world market haven’t been too favourable and we have to work with these companies that are engaged in diamond and manganese production.”
He further stressed the importance of keeping these companies operational in Guyana, noting, “It is important that we keep these companies in Guyana and work with them incentivising [them].”
Bharrat pointed out the critical role GMI plays in local employment, particularly in the Matthews Ridge and Port Kaituma areas.
“The manganese company employs almost 200 individuals from Region One, particularly those in the Matthews Ridge, Port Kaituma area and employment in those areas are critical. There aren’t many opportunities as we have on the coast so it is important that work with these companies to ensure that they stay in operation and continue to produce and employ Guyanese.,” he said.
In 2022, Guyana resumed exporting manganese for the first time in 54 years. GMI is a subsidiary of Chinese-owned bauxite BOSAI, a bauxite producer in Linden, Region 10. According to reports, in 2016, Canadian company Reunion Gold sold its Matthews Ridge manganese project to BOSAI for US$10 million.
