Mining company First Bauxite Inc. has announced a change in ownership, revealing that it has entered into an agreement under which Strategic Bauxite has now acquired the company.
In a statement issued last Wednesday, First Bauxite described the transaction as an important milestone that positions the company for continued growth, investment and long-term success.
Speaking with Kiskadee Watch yesterday, Chief Sustainability Officer Elliott Lincoln said the acquisition is expected to result in changes to First Bauxite’s Board of Directors, but confirmed that the company’s senior management team will remain in place.
The company will continue operating under the First Bauxite name despite the change in ownership, he noted, adding that the Government of Guyana has approved the transaction as Guyanese authorities were consulted before the acquisition agreement was finalised.
Speaking about the workforce, Lincoln said there are no planned layoffs as a result of the ownership change. He declined to share any details about Strategic Bauxite, noting that the company will introduce itself locally at some point.
Meanwhile, according to the statement, Chief Executive Officer Ralf Schoenfelder said the acquisition reflects the strength of the company’s assets, the commitment of its employees and the future potential of its operations.
“This transaction reflects the quality of our assets, the dedication of our employees, and the strong future potential of our operations. We are pleased to partner with an owner that shares our commitment to responsible mining, environmental stewardship, safety, and sustainable development,” Schoenfelder said.
The company sought to reassure stakeholders that its operations will continue without interruption during the ownership transition. It said existing commitments to employees, customers, suppliers, host communities and government stakeholders will remain unchanged.
Strategic Bauxite General Partner Michael Smith said the company is pleased to invest in First Bauxite and sees significant opportunities for future growth. “We are delighted to invest in First Bauxite and look forward to working with its employees, management team, customers, communities, and government partners. We believe the Company has significant growth opportunities and we are committed to supporting its continued success,” Smith stated.
First Bauxite also reaffirmed its commitment to maintaining high standards of safety, environmental performance, regulatory compliance and community engagement.
The company said additional information regarding the transaction will be provided as necessary.
According to the company, First Bauxite is focused on the responsible development and production of high-quality bauxite resources in Guyana. It said it remains committed to sustainable mining practices, environmental stewardship and creating long-term value for its stakeholders.
Minister of Natural Resources Vickram Bharrat could not be reached for comment on the new development.
According to its official website, Strategic Bauxite has not yet published detailed information about its business, history, ownership or operations.
The company’s website currently consists of a temporary “Launching Soon” page with a contact form and a sign-up option for email updates. No information is provided on its executives, mining assets, countries of operation, investment portfolio or corporate background.
In June last year, First Bauxite LLC, through its Guyanese subsidiary First Bauxite Inc. (FBX), said its Bonasika operations had expanded into high-quality sand and clay.
Since beginning construction of its Bonasika mining and beneficiation facilities in early 2018 and officially launching operations in January 2020, First Bauxite said it had remained steadfast in its mission —”Safety First, Quality Always.” Despite the global pandemic, the company reached full operations by early 2021 and has “continued to scale and diversify, supported by strategic realignment in 2023 to better serve key industrial sectors”, the release said.
With over 90% of its workforce comprised of Guyanese professionals, a release from the company last June said that FBX continues to prioritize local development, job creation, and capacity building.
Looking ahead, First Bauxite said it has expanded into high-quality sand and clay, and was exploring additional resources for downstream value-added processing—including calcination—to reinforce its role as a leading industrial minerals provider.
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