TRADE Winds Inc., on Monday, announced that it is expected to launch a $600 million sand/loam mining project in Region Three which is likely to come into operation by 2023.
The company made the announcement in a press release. It said the investment was another development success for Guyana which was coordinated by the Ministry of Natural Resources.

The release also noted that following an application process that spanned several years, Trade Winds Inc., headed by Charles Nedd, successfully obtained a licence from the Guyana Geology and Mines Commission to operate a sand pit to conduct mining operations in Region Three.

Nedd, a United States-based Guyanese, has returned to Guyana with intentions to invest some $600 million to operationalise a modern sand and loam mining operation in the vicinity of Hubudebu River and Labba Creek in the region.

The company is expected to begin feasibility studies to determine the most efficient and sustainable operational processes.

“Our intention is to be in full operations by 2023, and to be able to meet the increasing demand for sand and loam, especially for customers in the fast-developing Region Three infrastructure,” the release quoted Nedd as saying.

He added that they hope to eventually hire just around 30 Guyanese to fully staff the operation.