MINING SECTOR PRIVATIZATION.

Caribbean Update | May 1, 1999 | Copyright

The Government of Guyana has announced plans to privatize its two state-owned bauxite companies, Berbice Mining Enterprise Ltd. (Bermine) and Linden Mining Enterprise Ltd. (Linmine):

The companies will each separately be restructured into new private companies that will be capitalized, majority-owned (60% under the Government's preferred structure) and operated by a private investor. The Government seeks to retain a minority share in each new company and will set aside one-quarter of its shares (10% of the new company) to be acquired by employees; It will sell all ...

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