York Investment Inc., a Guyanese registered company, is poised to make a whopping $3B investment in a quarry project which would be used to help with the development of the road network approved by the European Union for the Lethem/Georgetown road.
According to project documents with the Environmental Protection Agency (EPA), the company says it has the financial capabilities to fund such a project and has enlisted the help of the technical expertise to ensure its feasibility. The company has since applied for the area known as Itaca, which had been mined up to the late 1960s. It can be accessed by boat and the trip time is approximately 2 hours from Parika depending on engine capacity and river current.
The pre-feasibility study shows the area has approximately 1,498,087 tonnes of metabasic material available for road construction, sea defenses, aggregates, etc.
Furthermore, it was noted that York has planned all its work activities for the next five years. It has planned, for example, to acquire two mobile crushers to increase productivity. A waste material dumpsite is also staged for development in 2021 to stockpile gangue material. The quarry is expected to supply boulders, gabions, and crushed aggregates in the following fractions: 7/8”, 3/4”, 5/8”, 1/2”, 1/4” minus.
The Environmental Assessment Board (EAB) of the Environmental Protection Agency (EPA) is expected to conduct a ‘Public Hearing’ today at 14:00h/2 pm at its Ganges Street, Sophia office to hear appeals submitted.
