Mineral production accounts for 40 per cent of GDP and 94 per cent of export revenue
Alumina exports increased only marginally, but gold exports have increased fiftyfold since 2000. This diversification has reduced vulnerabilities to exogenous shocks
Suriname has a long history of working with multi nationals in the extraction business. Bauxite has been produced in the country for almost a hundred years.
Almost 90% of all airplanes in WW2 were built from Aluminium that emanated from Suriname’s bauxite
The Bakhuys Range has enough bauxite for a steady production for the next forty years (est. 300 million Mt)
In 2011, alumina production in Suriname decreased to about 1.4 mt from almost 1.5 mt in 2012. Bauxite production increased to more than 4.2 Mt (2012). Suriname has estimated reserves of 580,000 Mt of bauxite
The Rosebel gold mine in Suriname is amongst the world’s top 50 gold producing mines
The Guiana Shield is a cratonic block that was originally joined to the West African cratonand shares the same Proterozoic greenstone belt geology and discovery potential. Both are heavily gold endowed and host numerous multi-million ounce deposits and mines. Over 200 Moz Au discovered in West Africa and over 75 Moz Au discovered to date in greenstone belts of Venezuela, Guyana, Suriname and French Guiana. Suriname especially is under-explored.
The metallogenic map of Suriname shows various occurrences of minerals of major economic importance is the greenstone belt for primary gold and other deposits. The main metal bearing pegmatite bodies are found in north-east Suriname. Cassiterite, columbite-tantalite, beryl and amblygonite have been mined.
Other base metal occurrences exist such as: Fe, Al, Au, Cu, Fe, Mn, Cr and other minerals.
Oil & Gas & Energy
Suriname produces 16,000 BOPD onshore from its Tambaredjo and Calcutta oilfields (700 million barrels STOIIP)
The Suriname-Guyana sedimentary basin, which developed on a passive continental margin since Jurassic times, is in the spotlight after the discovery of 72 meter net pay in the Zaedyus well in French Guiana that mirrors the Jubilee Field in Ghana.
The 15 billion barrels of undiscovered oil estimated in this basin by the United States Geological Survey (USGS, 2000) was based only on Cenomanian-Turonian source rock-derived hydrocarbons, while the Zaedyus discovery likely draws from older source rock.
Power generating projects include: upgrade of the refinery at Tout Lui Faut, production of power from ethanol, as well as new hydro and thermal projects.
Suriname: a stable market to invest in and rapidly developing middle income country
Stable macroeconomic policies and buoyant export receipts have led to solid and continued growth. Solid growth despite global financial turmoil and limited global demand. Could reach the “high income” category in 5 years.
The Government is putting in place laws and on-site measures to modernise and formalise the large informal gold sector, limit its ecological impact, improve health and safety, and increase fiscal revenue.
At the moment a new Mining Code (last amended in 1986) the development of a Mineral Institute for a more comprehensive approach of mineral development and a new Geological Map of Suriname are being implemented to facilitate investments.
The population consist of people from all over the world, The Amerindians of course, people from Africa, India, Indonesia, China, Europe. This diversity is the strength of the nation. It gives strong political stability, adding indisputably to a favourable investment climate.
Moody’s Investors Service has upgraded the foreign currency rating of the government of Suriname to Ba3 and changed the outlook from stable to positive. Credit rating upgrades due to: Stable macroeconomic environment, Elimination of arrears, Relative low debt levels, Structural improvement of BOP, Robust medium term growth prospects and ongoing investments.