GUYANA MANGANESE INC.
In 2018, after a year of purposeful field visits and through negotiation with the Reunion Gold Corporation, Bosai Group obtained four prospecting permits of Manganese Mine in the Matthews Range in Northwest Guyana, which altogether cover an area of 45,729 acres, and the acquisition also included relevant exploration reports, mining agreements and part of the assets and infrastructure.
Bosai Group registered a wholly-owned subsidiary in Guyana, named as Guyana Manganese Inc., to receive the foregoing acquired assets. The company then started the design and construction of mines, ports and export haulage system. The construction work is scheduled to be completed in late 2019, and next, the operation of mine will catch up soon. With an annual mining capacity of 2.5 million tonnes, an annual output of 600,000 tonnes of manganese concentrate, an average MnO content of 38% (39% of lump ores and 37% of fine ores), a SiO2 content of 20% - 25%, a phosphorus content of less than 0.1%, and together with very few impurities, the products will be an ideal raw material for ferroalloy production.
The Manganese Mine in Matthews Range has a proven reserves of nearly 30 million tonnes. Its mining life is designed to last for 12 years, and the mining method applied will be open-pit mining. According to the previous exploration reports, there are more inferred reserves in area near the mine, which needs to be further confirmed in detail. By then, the company's capacity including but not limited to resource reserves, mining life and productivity will be highly promising to double.
This project is expected to create at least 700 jobs directly and indirectly in local communities in Guyana.