Home Top Stories A license was granted for the operation of the largest Caribbean quarry in Region 7
… A company to revolutionize industry with the latest technology
The Guyana Geology and Mines Commission (GGMC) has issued a large-scale Quarry License (QL) for the extraction and processing of rock to produce boulders and aggregates of various sizes in Region Seven (Cuyuni-Mazaruni).
The license was granted to Black Jaguar Investment Group Inc., a wholly owned subsidiary of El Dorado Trading Group of Companies, on December 1, 2020. It is for operations along the Mazaruni River in the vicinity of Marshall Falls. This QL covers an airspace of 7086 acres, making it the largest QL in existence – not only in Guyana but in the Caribbean region.
The combined acres of the other QLs that exist in Guyana are smaller than the size in the QL acquired by Black Jaguar Investment Group Inc.
In a statement Sunday, the company said the area covered by this QL is home to deposits of granite and gabbro rocks.
“These rocks are excellent for use as a world-class aggregate in the construction industry. The elevations within 75 percent of the area enclosed by the QL are more than 200 feet, the highest elevations are more than 300 feet. The 300-foot contour covers about 40 percent of the QL’s aerial size. The elevation on the banks of the Mazaruni river is less than 50 feet. The overload in this area is usually less than 40 feet. This leaves about 200 feet of rock standing above the river bank level which can be easily extracted, ”detailed abuse by the company.
He went on to explain that the aerial size of the 200-foot contour line with the modifications for the riverside overload shows that approximately 300 million tons of rock will be available for extraction above the riverbank level.
“Unlike the other quarries in operation, the company will engage with international quarry operators to establish several extraction and production sites to increase the quarry’s output to meet current and expected demand in the local and regional economy. Other quarries in Guyana have a very limited approach to extraction and production, they only operate one extraction and processing system regardless of QL size and resource availability, ”he added.
To this end, Black Jaguar Investment Group Inc. said it intends to revolutionize the operation of the quarry industry in Guyana and to address the chronic supply shortages that have resulted in a resource-rich country having to importing aggregates to meet demand.
“The proposed facility will be developed using state-of-the-art technology to maximize operational capacity and efficiency. The target for initial production is 20,000 tonnes of aggregate per week. The chronic shortage of aggregates has been causing Government infrastructure projects to run years beyond the anticipated deadline for completion. Government and private construction will no longer be delayed due to a shortage in the aggregate supply, ”he said.
This highly efficient, new large-scale operation will allow the company to supply products to the local market in a timely manner and at very competitive prices to support the rapidly expanding development in Guyana, the company assured .
Scarcity of stones
For several months, there have been numerous complaints about stone shortages and import delays.
As such, the PPP / C Government had in November announced the withdrawal of VAT (value added tax) from stone imports for the revitalization of the construction industry, which, like many, had been severely impacted by COVID-19 others. pandemic.
This order was made by President Dr. Irfaan Ali in exercise of the powers conferred upon him by Section 98 (1) of the Value Added Tax Act.
The Section was amended to say: “… zero rate for the purpose of Section 17 is to import stones of a type and quality used in construction and housing, provided: A Caricom Certificate of Origin is issued by the importer in accordance with Section 15 of the Customs Act, Chapter 82: 01… ”
The tax abatement was immediately applied until June 30, 2021.
Nevertheless, the initial design of the Black Jaguar Investment operation will produce approximately 1.9 million tonnes annually. The operation will be run by industry professionals with over 100 years of experience in the field as well as international engineers.
This Quarry License is the first to be issued in the last decade. The last QL has been issued to Durban Quarries Inc since 2010. (G8)