{"id":2274,"date":"2021-10-11T15:16:14","date_gmt":"2021-10-11T15:16:14","guid":{"rendered":"http:\/\/dev.trackdrip.com\/?page_id=2274"},"modified":"2025-07-23T12:20:10","modified_gmt":"2025-07-23T12:20:10","slug":"natural-resources","status":"publish","type":"page","link":"https:\/\/sita.sr\/sectors\/natural-resources\/","title":{"rendered":"Natural Resources"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"2274\" class=\"elementor elementor-2274\" data-elementor-post-type=\"page\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-bae32ec elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"bae32ec\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-9a99ba7\" data-id=\"9a99ba7\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-2709bc0 elementor-widget elementor-widget-iheading\" data-id=\"2709bc0\" data-element_type=\"widget\" data-widget_type=\"iheading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"section-head\">\r\n\t        \t            <h6 class=\"text-primary\">PRIORITY SECTORS<\/h6>\r\n\t        \t        <h2 class=\"section-title\">Suriname: a land of natural wealth  <span class=\"text-primary\"><\/span><\/h2>\r\n\t        \t    <\/div>\r\n\t    \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-99398c4 elementor-widget elementor-widget-text-editor\" data-id=\"99398c4\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>Suriname belongs to the Precambrian Guiana Shield, a 2 billion years\u2019 old geological formation, which extends for 415.000 km2 from Venezuela to the Amazon River in Brazil.<\/p><p>During the last centuries, several explorations have demonstrated that there is a high potential and clear prospects for the extraction of a range of natural resources in the country, mainly (but not limited to) gold and oil and gas.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ee82a42 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ee82a42\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-43c5a30\" data-id=\"43c5a30\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-8d51b04 elementor-widget elementor-widget-iheading\" data-id=\"8d51b04\" data-element_type=\"widget\" data-widget_type=\"iheading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"section-head\">\r\n\t        \t            <h6 class=\"text-primary\">SECTORS: natural resources<\/h6>\r\n\t        \t        <h2 class=\"section-title\">Competitive advantages <span class=\"text-primary\"><\/span><\/h2>\r\n\t        \t    <\/div>\r\n\t    \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-65edb55 elementor-widget elementor-widget-text-editor\" data-id=\"65edb55\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>GREEN ENERGIES:<\/strong><br \/>Due to its geographical and climate characteristics, the country is ideal for the generation of different kind of sustainable energies.<\/p><p>Because of it, the government is totally committed with the consolidation of the sustainable energy sector and is about to launch a procurement process for the bidding of studies and pre-investment field works for the generation of solar, wind and biomass energy at a commercial level.<\/p><p><strong>OIL AND GAS:<\/strong><\/p><p>Due to recent discoveries, Suriname has become the most promising new oil hot spot in the region. Explorations have been reactivated as the Basivn has an estimated potential of:<\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> 15,2 billion barrels of crude oil,<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> 1.190,86 cubic meters of gas and<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> 2.329,62 million barrels of natural gas liquids<\/li><\/ul><p><strong>MINING:<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-427f157 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"427f157\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-8d65b32\" data-id=\"8d65b32\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-4d61386 elementor-widget elementor-widget-text-editor\" data-id=\"4d61386\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p>The Investment Attractiveness Index calculated by the Fraser Institute, measures the geologic attractiveness of a jurisdiction as well as the effects of government policy on attitudes toward exploration investment (onerous regulations, taxation levels, quality of infrastructure, etc.).<\/p><p>According to the 2019 Survey of Mining Companies, Suriname is the most attractive country in the Precambrian Guiana, being ranked as the 37th most attractive country from the 76 analyzed territories, above Guyana (39th), Brazil (46th) and Venezuela (70th) .<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-14e03bb\" data-id=\"14e03bb\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-a74b11d elementor-widget elementor-widget-image\" data-id=\"a74b11d\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"734\" height=\"358\" src=\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-investment.jpg\" class=\"attachment-full size-full wp-image-3559\" alt=\"\" srcset=\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-investment.jpg 734w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-investment-300x146.jpg 300w\" sizes=\"(max-width: 734px) 100vw, 734px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8cbd533 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8cbd533\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-73bba81\" data-id=\"73bba81\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6c76532 elementor-widget elementor-widget-iheading\" data-id=\"6c76532\" data-element_type=\"widget\" data-widget_type=\"iheading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"section-head\">\r\n\t        \t            <h6 class=\"text-primary\">SECTORS: natural resources<\/h6>\r\n\t        \t        <h2 class=\"section-title\">Main resources <span class=\"text-primary\"><\/span><\/h2>\r\n\t        \t    <\/div>\r\n\t    \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9aa2950 elementor-widget elementor-widget-text-editor\" data-id=\"9aa2950\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Green energies : <\/strong><\/p><p>Due to its geographical characteristics, Suriname possesses a great potential for the development of businesses related to:<\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Solar energy:<\/strong> the country has an average rate of 2.542 hours of sunshine per year . Moreover, the Sun is rarely entirely absent, especially during the<br \/>long dry season, and provides a global radiation from an average of 450 watt\/m.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Biomass:<\/strong> its production will certainly play an important role in the near future due to the favorable circumstances for the agrarian production of crops such as Jatropha, sugarcane, oil palm, coconut, elephant grass and rice, as well as to the climatological circumstance that benefits the cultivation<br \/>of algae.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Hydropower:<\/strong> due to the existence of four major rivers with large volumes of tidal water and strong tidal currents, there is room for installing<br \/>micro-hyrdropower plants along big rivers and in the direct surrounding of several villages in the interior.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Wind energy: studies are still under development, but there are signs indicating that the coastal and offshore areas may offer ideal conditions for the<br \/>installation of windmills .<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Value chain for the generation of sustainable energies:<\/strong> Taking into account the ideal geographical and climate characteristics of Suriname as well as the liberalization that the green energies\u2019 self-consumption market has, opportunities exist for the whole value chain related to the production and<br \/>commercialization of goods and services linked to it.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Energy efficiency in buildings:<\/strong> the renewal and rehabilitation of buildings in order to improve their energetic efficiency is an emergent market in Suriname.<\/li><\/ul><p><strong>Gold: <\/strong><\/p><p>The extraction of natural resources has been a lead sector since gold was discovered in 2004. Even if most of it can be found in the eastern part of Suriname, within the Greenstone Belt, reserves are also available in the west.<\/p><p>In the last decades, gold has turned into a major economic source for the country, being its key exporting product:<\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Average value of exports (2016\/2020): 1.494.610 thousand USD\/year.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Main destination countries: Switzerland, United Arab Emirates, Belgium and the United States of America.<\/li><\/ul><p><strong><i>Competitive advantages:<\/i><\/strong><\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Gold purity:<\/strong> Suriname gold typically is 92 to 93 percent pure (after removing impurities)<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Human resources:<\/strong> existence of local workforce with experience in mining<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Supported skills development:<\/strong> existence of scientific-training programs such as the Het Natuurtechnisch Instituut<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Large gold reserve:<\/strong> valued at approximately 4.2 million ounces, good for a production period of 11 to 13 years<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Fiscal terms for large-scale gold mines are essentially negotiable:<\/strong> royalty payments are determined on a case-to-case basis through their specific agreement with the Republic of Suriname.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Royalties for small-scale gold:<\/strong> fixed at 1% , lower than the rates in neighboring countries.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Types of activities with potential: the country offers a wide variety of services for this large supply chain: melting, assaying, evaluation, vaulting, bullion trading, coins, medallions and investment bars distribution, global logistics, and liability coverage and insurance for the international transportation of precious metals<\/li><li>\u00a0<\/li><\/ul><p><strong>Oil and Gas: <\/strong><\/p><p>Oil was first discovered in Suriname in 1928 on the coastal plain, close to the western border, but systematic exploration both onshore and offshore only started in the 1960s, when various international oil companies (IOCs) became interested. Oil became the primary industry by the mid-1990s, overtaking bauxite. Total oil production in the last 35 years reached 100 million barrels of crude oil and, in parallel, has boosted the total value of exports:<\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Average value of oil exports (2016\/2020): 91.500 thousand USD\/year.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Main destination countries: Guyana, France and United States of America.<\/li><\/ul><p><strong>Competitive advantages:<\/strong><\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>New oil hot spots:<\/strong> Suriname is on the brink of an immense oil boom, rapidly emerging as a major player in offshore energy exploration. With over 2.2 billion barrels of recoverable oil equivalent discovered since 2020, the country\u2019s offshore sector\u2014led by TotalEnergies, APA, and Petronas\u2014is gaining global attention. The landmark GranMorgu project in Block 58 is expected to begin production by 2028 at up to 220,000 barrels per day, while Block 52 has confirmed multiple discoveries and continues aggressive drilling. Backed by multi-billion-dollar investments and strategic state support through Staatsolie, Suriname is set to transform its economy and energy future, positioning itself as the next major oil frontier in the Western Hemisphere.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Low production costs:<\/strong> about 30 or 40 dollars \/ 26,5 or 35,4 \u20ac per barrel<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Supported skills development:<\/strong> existence of training and management programs and initiatives such as: the Master\u2019s Program in Petroleum Geology in the Anton de Kom Universiteit van Suriname or Hydrology and Engineering in the Polytechnic College of Suriname<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Wider shared production agreements:<\/strong> they last for 5 to 10 more years than other Latin-American countries<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Large production of oil:<\/strong> allows the country to have high levels of primary energy self-sufficiency. The result is very low electricity price at around 7<br \/>cents per kWh<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Significant spin-off industry around oil<\/strong><\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> <strong>Types of activity with potential:<\/strong> exploration companies, prime contractors, subcontractors, service providers, consulting, investment firms, among others.<\/li><\/ul><p><strong>Forestry: <\/strong><\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Due to the fact that 93% of the country is forested, forestry is a sector with great potential.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> The average export value of the wood in the rough or roughly squared between 2016 and 2020 is of 111.327 thousand USD.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Most of the exports are destined to India and China.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> According to the Revealed Comparative Advantage (RCA) calculated by the UNCTAD for the country in 2019, Suriname is a competitive producer and exporter of wood in the rough and roughly squared (RCA of 68) and wood simply worked and railway sleepers of food (RCA of 2.2).<\/li><\/ul>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-4703f3f elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"4703f3f\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-0069d8c\" data-id=\"0069d8c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-6d23d29 elementor-widget elementor-widget-image\" data-id=\"6d23d29\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1920\" height=\"729\" src=\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-ship.jpg\" class=\"attachment-full size-full wp-image-3583\" alt=\"\" srcset=\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-ship.jpg 1920w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-ship-300x114.jpg 300w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-ship-1024x389.jpg 1024w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-ship-768x292.jpg 768w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-ship-1536x583.jpg 1536w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-ed22cff elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"ed22cff\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-6bacee2\" data-id=\"6bacee2\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-80d3900 elementor-widget elementor-widget-iheading\" data-id=\"80d3900\" data-element_type=\"widget\" data-widget_type=\"iheading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"section-head\">\r\n\t        \t            <h6 class=\"text-primary\">SECTORS: natural resources<\/h6>\r\n\t        \t        <h2 class=\"section-title\">Other resources with potential: <span class=\"text-primary\"><\/span><\/h2>\r\n\t        \t    <\/div>\r\n\t    \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5759237 elementor-widget elementor-widget-text-editor\" data-id=\"5759237\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>GREEN ENERGIES:<\/strong><\/p><p>According to the Revealed Comparative Advantage (RCA) calculated by the UNCTAD for the country in 2019, Suriname is a competitive producer and exporter of the following products linked to natural resources:<\/p><p>\u00a0<\/p><table><tbody><tr><td><strong>PRODUCT (group digit and name)<\/strong><\/td><td><strong>RCA<\/strong><\/td><\/tr><tr><td>247 Wood in the rough or roughly squared<\/td><td>68<\/td><\/tr><tr><td>248 Wood simply worked and railway sleepers of wood<\/td><td>2.2<\/td><\/tr><tr><td>288 Non-ferrous base metal waste and scrap, n.e.s<\/td><td>1,6<\/td><\/tr><tr><td>273 Stone, sand and gravel<\/td><td>1,3<\/td><\/tr><\/tbody><\/table><p><br \/><strong>Bauxite:<\/strong><\/p><p>Bauxite became predominant after the 1920s due to the need of the United States after World War I. With the development of the Paranam refinery industry and the hydro-electric power by Alcoa, Suriname was, for a long time, one of the main bauxite and alumina producers in the world.<\/p><p>Significant bauxite deposits remain in Suriname, estimated at approximately 64,6 million Mt , but they have been unexploited for the past years. The deposits in the coastal lowlands, formed on sedimentary parent rocks, are almost mined out but those in the plateau, originated on metamorphic rocks, have not been brought into production up to date.<\/p><p><strong>Diamond :<\/strong><\/p><p>Experts believe that the southeast part of the country are the most promising areas for this activity.<\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Four types of diamonds in Suriname:<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> the scattered, well-preserved microdiamonds;<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> the diamonds from the Sipaliwini area, associated with Dalbana metarhyolites;<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> the diamonds from the Lawa River region, associated with the Dachine ultrabasic (kimberlitic) body in French Guyana;<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> the \u2018larger\u2019 Rosebel-Sabanpassie diamonds<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/check-mark-yello.png\" width=\"15px\" \/> Kaolin : There are large deposits of kaolin under the bauxite deposits of Moengo and Onverdacht and numerous smaller deposits in the interior of Suriname<\/li><\/ul><p><br \/><strong>Crushed stone:<\/strong><\/p><p>Crushed stone, such as granite, gneiss, amphibolite and greenstone, are readily available in the interior of Suriname.<\/p><p><br \/><strong>Sand:<\/strong><\/p><p>The country possesses several spots with high-quality resources near Zanderij and Lelydorp, used in the production of glass, as well as in the Coropina Formation and in the Young Coastal Plain of Suriname, often mined for construction purposes.<\/p><p><br \/><strong>Kyanite:<\/strong><\/p><p>Suriname possesses a kyanite deposit near Bosland, just northeast of Lake Brokopondo, with an estimation varying from 3 million tons to 0.5 million tons.<\/p><p><br \/><strong>Phosphate:<\/strong><br \/>a copper\/phosphate prospect has been detected in Bakhuis. The prospect, referred to as the K\/3 area, is 1.5 km long, and is believed to be of sedimentary origin.<\/p><p><br \/><strong>Manganese:<\/strong><\/p><p>Investigations have revealed that manganese occurs in several places in Suriname: the vicinity of the Sarakreek along the Suriname River, along the Tapanahony River and around Apoema Soela on the left bank of the Maraowijne River.<\/p><p><br \/><strong>Rare earth elements:<\/strong><\/p><p>The mineral monazite\u2014one of the main sources of rare earth elements\u2014occurs in several locations in Suriname. Also, indications of rare earth elements such as neodymium, cerium, scandium, and yttrium in Bakhuis have been found.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-9a47325 elementor-section-full_width elementor-section-height-default elementor-section-height-default\" data-id=\"9a47325\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-no\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-35dd38b\" data-id=\"35dd38b\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-68224d8 elementor-widget elementor-widget-image\" data-id=\"68224d8\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img decoding=\"async\" width=\"1920\" height=\"729\" src=\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-land.jpg\" class=\"attachment-full size-full wp-image-3595\" alt=\"\" srcset=\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-land.jpg 1920w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-land-300x114.jpg 300w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-land-1024x389.jpg 1024w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-land-768x292.jpg 768w, https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-land-1536x583.jpg 1536w\" sizes=\"(max-width: 1920px) 100vw, 1920px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-5c56dc0 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5c56dc0\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-extended\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-cac6e33\" data-id=\"cac6e33\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-18083f1 elementor-widget elementor-widget-iheading\" data-id=\"18083f1\" data-element_type=\"widget\" data-widget_type=\"iheading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"section-head\">\r\n\t        \t            <h6 class=\"text-primary\">SECTORS: natural resources<\/h6>\r\n\t        \t        <h2 class=\"section-title\">Support <span class=\"text-primary\"><\/span><\/h2>\r\n\t        \t    <\/div>\r\n\t    \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-96b0d68 trade-support elementor-widget elementor-widget-text-editor\" data-id=\"96b0d68\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<p><strong>Suriname Investment and Trade Agency (SITA)<\/strong> is the national Trade and Investment Promotion Agency (TIPA) and is comitted to be the strategic and the trusted partner of anyone who wants to do business in Suriname. Need support? Contact us <a href=\"https:\/\/sita.sr\/contact-us\/\">here<\/a>.<\/p><p><br \/><br \/><strong>A. RELEVANT ENTITIES<\/strong><\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" width=\"15px\" \/> The Ministry of Natural Resources is responsible for policy relating to the exploration and exploitation of minerals, while several other government agencies are responsible for policy relating to mining: Ministry of Finance and the National Institute for Environment and Development in the Office of the President.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" width=\"15px\" \/> Ministry of land and forest management<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" width=\"15px\" \/> Chamber of Commerce and Industry<\/li><\/ul><p><br \/><br \/><strong>MINING<\/strong><\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> The Geologisch Mijnbouwkundige Dienst (GMD\/Geological Mining Department)<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> The Bauxiet Instituut Suriname<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Central Bank of Suriname : samples, assays and determines the purity and weight of the gold destined for exports<\/li><\/ul><p><br \/><br \/><strong>OIL AND GAS<\/strong><\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Staatsolie : Has mining rights to explore for and to produce hydrocarbons in Suriname as an independent operator or with other oil companies. On behalf of the government, Staatsolie assesses the hydrocarbon potential while promoting, contracting, and monitoring the activities of the foreign oil companies. Some other activities of this integrated oil company include refining, marketing, and distributing oil products and producing electricity<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Suriname International Petroleum &amp; Gas Summit &amp; Exhibition : event bringing up together regional policymakers, entrepreneurs and local businesses as well as international oil companies, services providers, business experts and investors interested in uncovering potential opportunities in the country\u2019s rapidly expanding upstream, midstream and downstream oil and gas markets.<\/li><\/ul><p><strong>B. POLICIES<\/strong><\/p><p><strong>MINING highlights<\/strong><\/p><p>Mining Decree E.58 (1986): 5 types of mining rights:<\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Reconnaissance rights for up to 200.000 ha for 2 years, with a possible extension of one additional year<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Exploration rights for up to 40.000 ha for 3 years, with the possibility of 2 extensions of 2 years, with a reduction in the area of 25% for each extension.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Exploitation rights for up to 10.000 ha for 25 years, with the possibility to extend the rights for up to 25 years.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Small mining rights for up to 200 ha for 2 years, with the possibility to renew the rights for an additional 2 years<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Rights to exploit building materials for up to 400 ha for 5 years, extendable for an additional 5 years<\/li><\/ul><p>Registered gold buyers are required to provide the Central Bank with monthly and annual reports on purchases and sales. Prices paid by buyers are not regulated although they include a 1% royalty to the Central Bank.<\/p><p><br \/><br \/><\/p><p><strong>HYDROCARBONS highlights <\/strong><\/p><p>Concession rights related to petroleum may only be granted to state enterprises (Mining Decree) although these are authorized to enter into agreements with petroleum companies (Petroleum Law). Under the law, Staasolie is the owner of all on- and off-shore rights to petroleum deposit, and it operates, either on its own or in partnership, all petroleum operations. These concession rights operated in partnership are awarded through direct negotiations or as a result of a bidding round. Staatsolie is involved in exploration, exploitation and refining on its own and, through petroleum contracts, it negotiates with international oil companies. Joint ventures with third parties, where Staatsolie has no operator function, are carried out by its subsidiary: Paradise Oil Company.<\/p><p><br \/><br \/><\/p><p><strong>FORESTRY highlights <\/strong><\/p><p>Under the Forest Management Act, logging requires a concession that may be short, medium or long-term.<\/p><p>An application for a concession must be made to the SBB (Foundation for Forest Management and Production Control). If the concession relates to more than 5.000 ha the applicant must first apply for an exploration permit and, at least 3 months before the expiry of the exploration permit, apply for a logging concession.<\/p><p><strong>C. AVAILABLE INCENTIVES:<\/strong><\/p><p>The 2001 Investment Act grants incentives for entrepreneurs in the field of mining and forestry who keep regular accounts on their operations (with annual closings) and who, in a year, invest in operating assets intended to be used within the framework of the enterprise.<\/p><p>The specific incentives are:<\/p><ul><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Free write offs: when computing the profit enjoyed in a year for the profit of levying income tax, the amount of the investment (in operating assets) shall be depreciated arbitrarily.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Exemption from income tax: The profit enjoyed in the commencement year of an enterprise (and the following 9 years) shall be exempted from income tax if certain requirements are met.<\/li><li><img decoding=\"async\" src=\"\/wp-content\/uploads\/2021\/12\/Group.png\" \/> Exemption from import duties: the import of capital goods can be partially exempted from import duties, turnover tax and statistics levy if certain conditions are met.<\/li><\/ul><p>Also, the Petroleum Act states that state-owned enterprises are entitled to enter into petroleum agreements with third parties after approval by the Minister of Natural Resources. Both State-owned enterprises and contractors shall be exempt from import and export duties for the import and export of business assets, materials, goods or equipment of any kind used for petroleum operations, if certain requirements are met. Moreover, the statistical and consent fee payable in respect of the import and export of goods is limited.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-01739ce elementor-section-height-full elementor-section-boxed elementor-section-height-default elementor-section-items-middle\" data-id=\"01739ce\" data-element_type=\"section\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-d96764f\" data-id=\"d96764f\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-5676d11 elementor-widget elementor-widget-heading\" data-id=\"5676d11\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h4 class=\"elementor-heading-title elementor-size-default\">The Power of diversity:<\/h4>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3dd0936 elementor-widget elementor-widget-heading\" data-id=\"3dd0936\" data-element_type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Where people and nature co-exist in harmony.<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3b6128a elementor-widget elementor-widget-ibutton\" data-id=\"3b6128a\" data-element_type=\"widget\" data-widget_type=\"ibutton.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<div class=\"ot-button\">\r\n\t\t\t<a href=\"https:\/\/sita.sr\/#hero-home\" class=\"btn btn-main no-icon\"><span>Explore now<\/span><\/a>\r\n\t    <\/div>\r\n\t    \t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>PRIORITY SECTORS Suriname: a land of natural wealth Suriname belongs to the Precambrian Guiana Shield, a 2 billion years\u2019 old geological formation, which extends for 415.000 km2 from Venezuela to the Amazon River in Brazil. During the last centuries, several explorations have demonstrated that there is a high potential and clear prospects for the extraction [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":0,"parent":2359,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"footnotes":""},"class_list":["post-2274","page","type-page","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Natural Resources - Sita<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sita.sr\/sectors\/natural-resources\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Natural Resources - Sita\" \/>\n<meta property=\"og:description\" content=\"PRIORITY SECTORS Suriname: a land of natural wealth Suriname belongs to the Precambrian Guiana Shield, a 2 billion years\u2019 old geological formation,\" \/>\n<meta property=\"og:url\" content=\"https:\/\/sita.sr\/sectors\/natural-resources\/\" \/>\n<meta property=\"og:site_name\" content=\"Sita\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-23T12:20:10+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-investment.jpg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"23 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/sita.sr\/sectors\/natural-resources\/\",\"url\":\"https:\/\/sita.sr\/sectors\/natural-resources\/\",\"name\":\"Natural Resources - Sita\",\"isPartOf\":{\"@id\":\"https:\/\/sita.sr\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/sita.sr\/sectors\/natural-resources\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/sita.sr\/sectors\/natural-resources\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-investment.jpg\",\"datePublished\":\"2021-10-11T15:16:14+00:00\",\"dateModified\":\"2025-07-23T12:20:10+00:00\",\"breadcrumb\":{\"@id\":\"https:\/\/sita.sr\/sectors\/natural-resources\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/sita.sr\/sectors\/natural-resources\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/sita.sr\/sectors\/natural-resources\/#primaryimage\",\"url\":\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-investment.jpg\",\"contentUrl\":\"https:\/\/sita.sr\/wp-content\/uploads\/2021\/12\/natural-resources-investment.jpg\",\"width\":734,\"height\":358},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/sita.sr\/sectors\/natural-resources\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/sita.sr\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Sectors: Invest &#038; 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