Canadian company to make substantial investment in Guyana
By CMC
Friday, January 27th, 2012.
Source
GEORGETOWN, Guyana, CMC – The Canadian-based mining company, Reunion Manganese Inc, says it will invest an estimated US$250 million here even as it laments the lack of skilled geologists and the long period for work permits to be granted to foreign nationals.
The company’s Chief Operations Officer, Joachim Bayah told officials attending an event organised by the Guyana Manufacturing and Services Association (GMSA) that the funds would be injected in itsMatthews Ridge, North West District project.
The Canadian firm, which was granted exploratory licences in 2010, is expected to commission the mine by 2014 and is hoping to extract two million tonnes of manganese concentrate annually.
The Matthews Ridge mine area consists of a 12-kilometre long series of hills within the ridge formation hosting the manganese mineralisation and extends for 40 kilometres of strike. The primary manganese zone is reportedly 150 to 175 cm thick and approximately 30 km long in a general north-east-south-west direction.
Stressing the economic value of manganese, Bayah said it is the fourth most commonly used ore, and Guyana has the capabilities to compete on the international market and is well primed to do so.
Bayah said that since the exploration activities began, the company has created over 300 jobs and an additional 300 will be created this year.
He said expenditures for last year was estimated at $36 million with just under half of that amount going towards capital, equipment, engineering and salaries.
But he said that while the project has resulted in a number of jobs here, the company is still not able to attract enough skilled geologists with several of the jobs being created not being filled by qualified nationals.
There is no geologist on the network,” he said, adding that of the “12 geologists on site, two are Guyanese”.
He said the company would work with the University of Guyana to assist with scholarships for potential geologists.
He said when fully operational, there would also be a need for accountants and others at the administrative level.
“The amount of work that will be required to maintain the exploration and eventual mining schedule of the Matthews Ridge area is enormous,” Bayah said.
By CMC
Friday, January 27th, 2012.
Source
GEORGETOWN, Guyana, CMC – The Canadian-based mining company, Reunion Manganese Inc, says it will invest an estimated US$250 million here even as it laments the lack of skilled geologists and the long period for work permits to be granted to foreign nationals.
The company’s Chief Operations Officer, Joachim Bayah told officials attending an event organised by the Guyana Manufacturing and Services Association (GMSA) that the funds would be injected in itsMatthews Ridge, North West District project.
The Canadian firm, which was granted exploratory licences in 2010, is expected to commission the mine by 2014 and is hoping to extract two million tonnes of manganese concentrate annually.
The Matthews Ridge mine area consists of a 12-kilometre long series of hills within the ridge formation hosting the manganese mineralisation and extends for 40 kilometres of strike. The primary manganese zone is reportedly 150 to 175 cm thick and approximately 30 km long in a general north-east-south-west direction.
Stressing the economic value of manganese, Bayah said it is the fourth most commonly used ore, and Guyana has the capabilities to compete on the international market and is well primed to do so.
Bayah said that since the exploration activities began, the company has created over 300 jobs and an additional 300 will be created this year.
He said expenditures for last year was estimated at $36 million with just under half of that amount going towards capital, equipment, engineering and salaries.
But he said that while the project has resulted in a number of jobs here, the company is still not able to attract enough skilled geologists with several of the jobs being created not being filled by qualified nationals.
There is no geologist on the network,” he said, adding that of the “12 geologists on site, two are Guyanese”.
He said the company would work with the University of Guyana to assist with scholarships for potential geologists.
He said when fully operational, there would also be a need for accountants and others at the administrative level.
“The amount of work that will be required to maintain the exploration and eventual mining schedule of the Matthews Ridge area is enormous,” Bayah said.