The Nassau Guardian
John Pinder fails to provide evidence on aragonite claims
Bahamas Public Services Union (BPSU) President John Pinder and the Bahamas National Citizens Coalition (BNCC) yesterday stood by their claim that argonite is selling for as much as $900 per metric ton, though they were unable to provide any proof in the matter.
“I maintain that this government, if they pursue this thing properly, can get as much as $300 per metric ton for aragonite,” Pinder said.
“I am saying that because the final product is being sold for as much as $1,200.”
Pinder also admitted that he has not read the lease between Sandy Cay Development Co. Limited and the government.
Sandy Cay Development President Tony Myers recently told The Nassau Guardian the unprocessed aragonite being shipped from Ocean Cay is being sold on average for $12 to $20 per metric ton.
He provided an invoice that shows a recent sale for $12.50 per metric ton.
The government gets a $2 royalty per metric ton sold.
Pinder maintained that the government could net $300 million in royalties per month from aragonite sales if it were “serious enough”.
“If he (Sandy Cay President Tony Myers) is selling it at $12, he is giving it away,” Pinder claimed.
“I don’t believe that, because you could go and buy a bag of sand from around here, which is only a bag of sand which weighs about 20 pounds, and you have to pay like $12 to $20.
“Who is he kidding?”
Pinder admitted that he “doesn’t have all the information” on the matter, but “has a feeling”.
Myers told The Guardian that Sandy Cay has only had 16 export shipments since it started aragonite harvesting in 2010.
He estimated that the resale cost of aragonite — after his company sells to U.S. companies and they complete the refining process — increases to around $75 per metric ton for the glass market and up to $400 per metric ton for the plastics market.
Profit
Myers said Sandy Cay has not yet made a profit from its operation, though he said it is poised to make money soon.
Pinder said, “If you believe that you might as well believe a cow jumped over the moon.”
He and the coalition have called on the government to increase its royalties to $300.
Pinder said his research team, the BNCC, has provided him with his information.
However, BNCC Chairman Rev. Andrew Stewart has admitted that the coalition has not seen the lease and has not contacted the investor.
“We could yield as much as $300 million per month off aragonite if the government has the will to do what is necessary to cause that to happen,” Pinder said.
“I maintain that statement. I have done what I [needed to do]. I have sensitized the Bahamian people.
“Let them do their research [and] let them defend me.
“I don’t need to defend my statement. I’d rather Bahamians do their research and defend it.”
When asked if he read the lease between the government and Sandy Cay, Pinder said he did not.
“I don’t have all the verifiable facts, but my mission has been accomplished,” he said.
“I want Bahamians to be sensitized to a very valuable product we have that is a necessity for most of the products produced in the world.”
Aragonite is a naturally occurring unique carbonate mineral found in abundance in our ocean.
Commonly, it is known as sand, and has widespread uses in various industries, including aggregate, agriculture, glass, power plant desulfurization, plastics, food, pharmaceuticals and cosmetics.
Pinder said he wants like to see Sandy Cay’s books, as well as those of every other company that has mined aragonite in The Bahamas.
No comments:
Post a Comment