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By Kiana WilburgIn 1993, the bauxite industry stood proudly as one of the major sectors that accounted for more than 30.4 percent of Guyana’s GDP and 57.7 percent of our country’s export earnings. But in recent times,Wholesale Jerseys Free Shipping, this “King of a sector” hasIt is indeed an uphill struggle to relive the glory days in the bauxite industry.been struggling to return to its glory days.Was its kryptonite the depressed markets? Was it poor management that has it stuck in recovery mode? Or is it a combination of that and more?The budgets presented over the last nine years, tell an interesting story about the mixed performance and a promised comeback of this sector.In 2008, former Finance Minister Dr. Ashini Singh said that after a few dips in production, the bauxite sector experienced a robust recovery. He said that this was reflected in private investments made in the Linden and Berbice River areas.In that time, he predicted that the industry would continue to expand with production increases projected for both Linden and Berbice. He said that the companies operating in the sector were expected to expand production and exports significantly.As for the hardcore statistics on the performance of the sector at the time, Dr. Singh reported that total bauxite production in 2007 increased by 51.6 percent to 2,242,928 tonnes, reflecting strong returns to the increased private investment in the sector.He said that receipts from bauxite exports amounted to US$101.5 million, 55.0 percent above the value for the corresponding period in 2006. Export volume rose to 2,198,771 tonnes at the end of 2007 from 1,465,358 tonnes for the corresponding period in 2006.By the first half of 2008, bauxite had achieved an outstanding growth of 22.8 percent, reflecting the conducive world market conditions during that period. In fact, bauxite exports increased by 29.2 percent to US$131.1 million.But the traditional pillar of the Guyanese economy faced a dramatic reversal of fortune towards the end of 2008. And the unkind external conditions were expected to linger for some time.Faced with continued depressed market prices, the bauxite sector was expected to record a contraction in output of 7.1 percent to 1,943,624 tonnes. This period of bad luck followed the sector in 2009 and 2010. It resulted in the closure of resorts and refineries, job losses, and pressure on exchange rates.Singh also reported on the operations of two major bauxite companies in Guyana.The Bauxite Company of Guyana Incorporated (BCGI), an entity now co-owned by Russian Aluminium (RUSAL), was able to preserve a significant share of its bauxite production. The former Finance Minister had said that in 2010, all of BCGI’s metallurgical bauxite was being shipped to RUSAL’s plant in the Ukraine, which was one of the few plants that remained at almost full capacity.Dr. Singh said that financial losses were however, exacerbated by unhelpful industrial relations developments. In contrast, Bosai Minerals Group (Guyana) Inc, lost markets, due to global factors, but industrial relations conditions enabled them to minimise loss of employment.In spite of the circumstances facing the sector, Singh remained optimistic about future improvements. But his hopefulness was not enough to save the sector from another poor performance in 2011.In fact, the bauxite industry ended 2011 with a total production of 1,082,512 tonnes, representing a 9.8 percent contraction in value added. Domestically, while BOSAI experienced improved sales as a result of increased prices for their product on the market, BCGI faced challenging mining conditions which led to reduced production. The latter at that time, invested in additional equipment that was expected to improve the production performance. Nevertheless, the year was one which saw an expansion in production for both companies.BCGI’s production of 1.3 million tonnes represented a 61 percent increase over 2010, largely driven by improving production equipment and mining practices. Bosai saw an expansion in refractory bauxite production by 10 percent in volume to over 203,000 tonnes in 2011.Additionally, in 2011, the metallurgical bauxite market in the Atlantic region faced a declining price for alumina in the face of excess capacity and supply.The former regime by 2012, had already invested in excess of US$200M in the bauxite industry since privatisation. Yet, efforts remained unabated to truly facilitate the emergence of a growing and more competitive bauxite industry. And compounding the issue was the fact that the global market for bauxite continued to show mixed signs.Over the next four years, a new wave of expansion was predicted. This included the start of a third bauxite company, First Bauxite Inc. The company was projected to start construction of its refractory operations in Bonasika in the latter part of 2012,Cheap NFL Jerseys