President Bharrat Jagdeo yesterday held discussions with Russian President Vladimir Putin and RUSAL owner Oleg Deripaska at the Kremlin in Moscow, Russian news agency Itar-Tass said.
It quoted President Putin as saying that Russia is developing relations with both big and small states and he was happy that Russian businesses found opportunities to work in Guyana.
A high-placed official in the Kremlin administration told Itar-Tass that the two leaders were to consider interaction in the international arena and in the Latin American and Caribbean region. The parties were also to discuss the issues of “developing the political dialogue, stepping up trade and economic cooperation, repayment of Guyana’s debt to Russia,” among other issues.
“Special attention will be paid to interaction between the chambers of commerce and industry of the two countries, and prospects for cooperation between businesses,” the Kremlin source told the news agency.
Last year, RUSAL purchased Aroaima Mining Company in Berbice for US$20 million and it has commenced geological surveys at the Moblissa-Bamia bauxite field at Linden. According to preliminary estimates, the aggregate reserves there may reach some 120 million tonnes of bauxite.
Meanwhile, Chinese company Bosai Minerals Group Ltd has laid a proposal on the table for a key bauxite asset at Linden. Bosai is willing to pay US$46 million for a 70% stake in Omai Bauxite Mining Inc (OBMI), as well as ownership of Omai Services Inc (OSI). RUSAL had also made a bid for OBMI but was not selected as the preferred bidder.
The government, a 30% shareholder in OBMI, has the “right of first refusal” in any sale of the OBMI assets. Director of International Development at Bosai Bill Holroyd, in an interview with this newspaper on Saturday, before leaving Guyana said the right of first refusal clause is written under the terms of the OBMI Partnership Agreement. If the government chooses to uphold this option it must match the US$46 million offer. The government has since asked for additional time to make its decision, and extended the deadline for completion of talks from January 22, to February 12.
“We arrived here January 10, with our President Yuan Zhilun and expected to be quickly approved as the new OBMI shareholder