The alumina industry is also using a major share of indigenous crude oil production by Staatsolie, the local State owned oil company. Smaller industries are using Staatsolie 1500, a typical blend developed by this company, to generate affordable energy for their production processes. Ladies and Gentlemen, Golden Star and their partner Cambior, after five years of dedicated exploration, expect to submit a final feasibility study for the Gross Rosebel Mineral Project to the Government by the end of this month April 1997. We compliment Golden Star and Cambior for their efforts and success in this project. Several prospects for gold and other minerals in the well known Benzdorp and the Sarakreek area, both situated in the greenstone belt, are in advanced exploration stage.
Initial results indicate the presence of economically minable deposits.
My Government is aware that with the development of the mineral resources the environment must be protected. Therefore, the environmental guidelines of the World Bank for Mining and processing of minerals will set our standards. A petroleum refining plant will be in operations by September this year. Present total crude oil production exceeds the refining capacity, allowing for continued crude oil export. The bauxite-industry invested over one hundred million US dollars to ensure profitable production well into the next century.