Aluminum
expansion in Guyana
Trinidad Express
GEORGETOWN,
Guyana
Petroleumworld.com
09 24 06
A Russian aluminum conglomerate that owns extensive
bauxite deposits in eastern Guyana has started talks
with Montreal-based Cambior Inc and the government
to buy out their stakes in the country's southern
mines, Prime Minister Samuel Hinds has said.
OAO
Rusal, the world's third-largest aluminum producer,
plans to continue its expansion by buying out Cambior's
70-per cent stake in Omai Bauxite Mining Inc, a
private company that owns or controls several bauxite
deposits in the Linden region of Guyana, Hinds said.
Guyana owns the remaining 30 per cent.
In
June, Cambior announced it was prepared to sell
its stake in the company and asked for offers. Cambior
said it wanted to focus on its core gold business
rather than make significant new investments in
mining bauxite.
Hinds
said Rusal, has invested more than US$20 million
(euro15.7 million) in reviving the country's ailing
state-owned bauxite mines in the last 18 months.
Trinidad
Express
Wednesday, September 20th 2006
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