Guyana restarts manganese export after 54 years; large int’l gold operators coming

--Finance Minister announces


Guyana is on the verge of restarting manganese export even as three large-scale gold mining operations will soon set up shop locally.

This comes as the government puts focus on ensuring the development of Guyana’s non-oil economy towards the achievement of a truly diversified and highly competitive country.

Finance Minister Dr. Ashni Singh on Thursday confirmed that Guyana has restarted the exportation of manganese after it was discontinued 54 years ago.

While addressing the business community during the Private Sector Commission’s Annual General Meeting at the Marriott Hotel, Dr. Singh said vessels are currently being loaded in the country’s North West region with manganese for export.

A section of the gathering at the PSC’s AGM at the Marriott Hotel (Photo: Keno George/May 12, 2022)

“Right now, as we speak, vessels are being loaded in the North West of Guyana with Guyana’s first shipment of manganese in 54 years,” the Finance Minister announced.

Dr. Singh did not name the exporter but the Guyana Manganese Inc. (GMI), a subsidiary of the Chinese-owned Bosai Minerals Group, is extensively involved in manganese mining here.

The Manganese Mine in Matthews Ridge, Region One, has proven reserves of nearly 30 million tonnes. Its mining life is designed to last for 12 years.

Manganese is used to make clear glass, desulfurize and deoxidize steel in steel production and reduce the octane rating in gasoline. It also is used as a black-brown pigment in paint and as a filler in dry cell batteries. Its alloys help stiffen the aluminium in soft-drink cans, according to Chemicool.

Dr. Singh said this type of operation is important in keeping with the government’s efforts toward a diversified and resilient economy.

To this end, he also announced that there were at least three promising world-class, large-scale gold mining operations to be set up here soon.

These, he said, will be bigger than Omai Gold Mines, one of the largest gold operations ever experienced locally.

“You know how significant Omai was. Contemplate for a moment three large scale operations, each of which is larger than Omai. Consider for a moment that each one of these will be employing more than 100 Guyanese. Consider the food and other supplies, transport services, construction, equipment supply and maintenance services and all the multiplier benefit these operations will generate,” the Finance Minister emphasised.

He assured the business community that the government will continue to stimulate activities in all sectors and not just oil and gas.

He said emphasis will be placed on ensuring an emerging rapidly growing and highly competitive non-oil economy that will also include agriculture.

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