The South American country hopes to have awarded a concession for bauxite, the world’s main source of aluminum, by this time next year, after decades of attempts to develop the ore. — Reuters
PARAMARIBO: Companies from India, China and the Middle East have informally expressed interest in participating in a bauxite project in the jungle of western Suriname that could attract billions in investment, a Surinamese official says.
The South American country hopes to have awarded a concession for bauxite, the world’s main source of aluminum, by this time next year, after decades of attempts to develop the ore.
“There’s 324 million tonnes of bauxite there,” Daniel Lachman, the chairman of the presidential commission created to evaluate bids for the Bakhuis region, said in an interview.
He was citing proven reserves, but deposits could be larger.
Investment, potentially also from bidders from other regions, would be significant, he said.
“You are easily talking about US$10bil to US$12bil, but over a period of say around 10 years or a little longer. That’s my rough estimate,” Lachman said.
“The bauxite we have is service level bauxite. You don’t have to create a mine. You just dig from the top,” Lachman added.
Companies will be able to formally express interest from today through Jan 29 next year.
Those who pass muster will be short-listed and asked to provide detailed plans, including how they would power a project, ahead of a planned awarding of the concession by November 2024. — Reuters
