Chinese and Indian businesses may be interested in the Suriname bauxite project

 Chinese and Indian businesses may be interested in the Suriname bauxite project

After decades of efforts to produce the resource, the South American nation aims to have given a concession for bauxite, the world's primary supply of aluminum, by this time next year.

According to a Surinamese official on Tuesday, companies from China, India, and the Middle East have unofficially shown interest in taking part in a bauxite project in the western Suriname rainforest that has the potential to draw billions of dollars in investment.

After decades of efforts to produce the resource, the South American nation aims to have given a concession for bauxite, the world's primary supply of aluminum, by this time next year.

"There's 324 million tons of bauxite there," said in an interview Daniel Lachman, the head of the presidential panel tasked with assessing proposals for the Bakhuis area.

Although he said confirmed reserves, deposits may be higher.

He stated there will be a substantial investment, maybe from bids from other areas as well.

It's easy to speak about $10 billion to $12 billion, but over a bit longer time frame—say, ten years or so. That's my best guess," Lachman said.

Our available bauxite is of the service level kind. There's no need for you to make a mine. You just start at the top," he said.

Businesses may officially indicate interest starting on Thursday and ending on January 29 of the following year.

Those who make the cut will be put on a short list and requested to submit comprehensive plans, including information on how they will power a facility, before the concession is supposed to be awarded by November 2024.

Lachman said, "To accommodate large ships, the Suriname as well as Courantyne rivers could be dredged or cleared of rock formations."

Most of Suriname's west remains unspoiled rainforest.

According to Lachman, the commission is evaluating the threats to biodiversity and will evaluate plans based on how well they adhere to environmental regulators' and the forestry management agency's rules.

"I think we have to look transcend government revenue... to other activities that are much more important," Lachman said.

According to him, the commission considers infrastructure development, local employment, and community consent before approving a project. It will not approve any project that disregards communities.