By: Jarryl Bryan
President Dr Irfaan Ali has recommitted his government’s intention to establish an aluminium plant in Guyana.
This consideration was announced by Chief Investment Officer Dr Peter Ramsaroop in August 2022.
Speaking at the Energy Conference today, President Ali renewed his government’s commitment towards realising this.
He said considering Guyana’s estimated US$1 billion in Bauxite reserves and the expected drop in energy costs with the gas-to-energy project, an aluminium plant in Guyana is very much on the cards.
He was at the time speaking of Guyana’s masterplan for using the gas-to-energy project to fuel economic growth.
“An important link to the masterplan is Bauxite. For years we have been a prime exporter of raw material. Now, with the opportunity the master plan gives us, using gas to do upstream and high value production, the only disadvantage we have now is the cost of energy.”
“To bring down the cost of energy to a cost that makes us highly competitive. So, what does that mean for the Bauxite industry? It means now that with our neighbour Suriname and Guyana combined, we have about 1.5 billion metric tonnes of bauxite. That’s the reserve.”
President Ali noted that once the cost of energy comes down, it will create an opportunity for the country to manufacture its own aluminium, rather than continue exporting bauxite, which Guyana has over 300 million tonnes of in reserve. The last functional aluminum plant Guyana had, which was located in Wismar, Linden, closed its doors since 1981.
“With the natural gas and cost of energy coming down, we can now move to upskill high value manufacturing in aluminium. Building an aluminium plant to support the deep-water port. This is the value addition. This is the value creation. This is what it opens up,” President Ali said.
Natural Resources Minister Vickram Bharrat had previously indicated that investors were eyeing Tarakuli bauxite deposit near Orealla, in Region Six. He had stated that Tarakuli is one of the largest bauxite deposits remaining in Guyana that is of high quality and untouched. This, he had said, was another reason for the country to establish an aluminium plant.
