China’s Bosai Minerals Group ponders leaving Guyana due to hostility
Chinese producer of bauxite Bosai Minerals Group halted its operations in Guyana on Friday due to violent protests against the miner that left at least three deaths on Wednesday, said the President Donald Ramotar.
According to America Economía, the authority added the Chinese company is rethinking its business expansion in the country after the deadly events.
Police officers shot and killed three people Wednesday in the city of Linden, about 100 kilometers from the capital Georgetown, during demonstrations against rising electricity rates.
Locals claim Bosai Minerals is partly responsible for the government’s decision to rollback the electricity subsidy in Linden, resulting in higher tariffs.
All the company’s operations in Guyana, which includes gold and diamond mines, have been affected by the riots, as the workers cannot receive food and fuel from Linden, due to blockages.
Bosai division in Guyana has an extraction capacity of 1.2 million tons of bauxite ore a year, and an annual output of 350,000 tons of bauxite processed.
The company had planned to invest $100 million in Guyana this year to expand operations.
With less than 1 million people, Guyana’s mining industry is considered a key sector to the country’s economic growth.