Bosai Group in Chongqing won the rights of exploration and mining of the bauxite resources in No. 37 Mine Lot in Guyana recently. The mine lot covers an area of about 1,800 hectare and the explored reserve of bauxite is over 70 million tons.
No. 37 Mine Lot is located in the right bank of the Demerara River. The winning of the rights provides Bosai Group with a stable and continuous guarantee for the future investment in bauxite resources. Bosai Minerals Group Guyana Inc. (BMGG) enjoys bauxite resources of about 200 million tons now.
Bosai Group purchases BMGG through merger & acquisition. Bosai holds 70% of shares of BMGG while the rest 30% is held by Guyana government.