Difficulties in finding financing has stymied the start of construction of Canadian company’s First Bauxite Corporation’s mine at Bonasika.
“They still looking for financing, it’s very difficult now,” Commissioner of the Guyana Geology and Mines Commission Rickford Vieira told Stabroek News. He said that the company had done a proposal and asked for more time. The company has up to the end of January next year to begin construction having receiv-ed two extensions. The project is one of several that have stalled due to difficulties in finding financing.
Stabroek News reported last week that a planned US$233 million manganese mine at Matthews Ridge, Region One by Canadian firm Reunion Gold