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GMIN commences early work construction on Oko West gold project
Kaieteur News- The new owner of the Oko West gold project, G Mining Ventures Corp. on Wednesday announced the commencement of site preparation activities for the project located in Region Seven (Cuyuni-Mazaruni).
Oko West Gold Project Permanent Camp Site Preparation
Back in January, GMIN announced that Guyana’s Environmental Protection Agency (EPA) granted an Interim Environmental Permit (IEP) paving the way for early construction. The EPA’s approval follows GMIN’s submissions of the Environmental Impact Assessment (EIA) and Environmental Impact Statement (EIS) for the Oko West Gold Project.
According to GMIN the IEP, which is valid for one year, along with the “No Objection” letter from the Guyana Forestry Commission, allows them to initiate early construction activities sooner than expected in Q1 of 2025.
The company noted that these activities include the construction of a barge landing facility, main access and internal roads, airstrip, permanent camp facility, water and sewage treatment plants and power generation and communication tower. GMIN said, “The early works construction programme is now officially underway, as a part of the total $200–240 million Oko West capex guidance for 2025. Site preparation activities are in progress for the barge landing on the Cuyuni River and the permanent camp area, which are key initial infrastructures to support future development.”
Concurrently, GMIN said it continues to advance permitting efforts toward securing the full Environmental Licence from the EPA. “The commencement of early works construction at Oko West demonstrates our commitment to expedite the delivery of another world-class gold project,” commented Louis-Pierre Gignac, President & Chief Executive Officer (CEO).
“With site preparation activities rule, we are applying our extensive development expertise to ensure seamless execution while upholding high safety, environmental, and social standards. These early-stage activities lay the groundwork for potentially fast tracking the project construction, once we publish the Feasibility Study, secure financing and make a formal construction decision, all anticipated by the middle of 2025,” he added.
For his part, Bjorn Jeune, Country Manager, noted, “We are proud to see tangible progress taking shape on the ground at the Oko West Gold Project, as construction activities begin to transform plans into reality. This important phase demonstrates our dedication to building a world-class gold project while prioritizing local development, environmental stewardship, and safety. It also signals our long-term commitment to contributing positively to Guyana’s mining landscape and national growth.” The Oko West Project is currently considered an “advanced-stage exploration project”, and is expected to produce 353,000 ounces of gold annually from both open pit and underground mining. The project is projected to recover 4.5 million ounces of gold over 12.7 years, according to its Preliminary Economic Assessment (PEA) released in September 2024.
(GMIN commences early work construction on Oko West gold project)
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