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Canadian mining Co. praises Guyana for speedy permits, pro-mining environment
Kaieteur News- G Mining Ventures (GMIN), a Canadian mining company currently developing the Oko West gold project located in Region Seven (Cuyuni-Mazaruni), has commended the Government of Guyana for creating a business-friendly environment that enables rapid project development.
Louis-Pierre Gignac, the Chief Executive Officer (CEO) and Director of G Mining Ventures (GMIN)
Chief Executive Officer (CEO) and Director Louis-Pierre Gignac said the company’s development timeline for Oko West mirrors its experience in Brazil, crediting the success to the local government’s efficiency and community support. “Our expedited development timeline for Oko West shares many similarities to Tocantinzinho, benefiting from a pro-business government, a predictable permitting process and supportive communities,” Gignac stated.
He added: “From publishing our first resource, to early works construction in under two years, is a statement of the support the company enjoys and will allow GMIN to deliver significant economic growth in Guyana.”
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.
An aerial view of the Oko West project
Describing Guyana as a tier one jurisdiction, Gignac noted that such timelines are rarely seen in North America. He added that as part of the project’s feasibility study, the company is refining its development schedule while maintaining an aggressive approach aimed at achieving first gold production by the final quarter of 2027.
He said, “The success of our fast-track strategy will depend on the rapid advancement of detailed engineering, ensuring designs are finalized and optimized for seamless execution. Equally critical is the efficient procurement of equipment and materials, allowing us to maintain momentum and keep construction on schedule.”
Gignac also highlighted the importance of exploration in driving future growth, with targeted programs currently underway across the company’s portfolio.
G Mining Ventures is among a growing list of Canadian companies working in Guyana’s mining sector.
This publication had reported that GMIN is banking on the “world-class” Oko West project to be the firm’s next phase of growth. Gignac had said that once in production, the Oko West project will propel GMIN’s annual production above the 500,000 ounces mark. In July 2024, GMIN acquired the Oko West project through a business combination with another Canadian mining company, Reunion Gold.
Earlier this year, GMIN received an Interim Environmental Permit for the project, paving the way for early construction activities and the company has advanced permitting efforts toward securing the full Environmental Licence from the Environmental Protection Agency (EPA). Last month, GMIN initiated early works at Oko West, including site preparation for a barge landing on the Cuyuni River and the construction of a permanent camp to support future development. The company is also expected to execute works on main access and internal roads, airstrip, permanent camp facility, water and sewage treatment plants and power generation and communication tower.
The company is advancing works with a focus on extending the mine life and assessing underground mining potential for the project.
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