Wed | May 24, 2017

Guyana to explore mining of rare earth minerals

Published:Friday | April 21, 2017 | 4:07 AM
David Granger, president of Guyana

CMC:

The Guyanese Government has announced plans to place more focus on the mining of rare earth minerals in the coming year, particularly lithium.

According to Minister of Natural Resources, Raphael Trotman a survey will be carried out "to get a better sense of what exactly we have."

Last year, a permit was given to a Canadian company for prospecting of lithium.

"That company has started doing some drilling and has seen signs of lithium. I believe they are now in the process of looking for financiers to go further," Trotman said.

The Canadian-based company, Guyana Strategic Metals (GSM) Incorporated that is operating in Region Sevenr signed an agreement earlier this year with an Australian company, Greenpower Energy to acquire interests in the exploration.

In the coming months, Greenpower Energy is expected to carry out an airborne geophysical survey to focus on the follow-up work.

Lithium was discovered in Guyana five years ago .

It is said to be the lightest known metal and is commonly used to make rechargeable batteries such as those found in cell phones.