Canadian firm inks US$32.5M deal for equipment for 5.4M gold project in Guyana

Jun 02, 2025 News

…submits revised environmental study to EPA

Kaieteur News- Canadian mining company G Mining Ventures (GMIN) has announced the signing of a €30 million (US$32.5 million) agreement for the delivery of key processing equipment. The announcement comes as the company submitted a revised Environmental and Social Impact Assessment (ESIA) to Guyana’s Environmental Protection Agency (EPA).

GMIN is the 100 per cent owner of the high-grade Oko West Gold project located in Region Seven (Cuyuni-Mazaruni), Guyana, which is in a developmental stage.

Canadian firm inks US$32.5M deal for equipment for 5.4M gold project in Guyana

The Oko West project

The agreement, signed with global mining equipment manufacturer Metso a company headquartered in Finland, includes a suite of state-of-the-art equipment critical to the project’s operations. These include a Superior™ MKIII primary gyratory crusher, Premier™ semi-autogenous grinding (SAG) and ball mills, a High-Rate Thickener (HRT) equipped with Reactorwell™ technology, apron feeders, and proprietary wear lining systems.

GMIN said that its partnership with Metso is in line with the company’s commitment to operational excellence, sustainability and responsible mining.

The company said, “As we advance through early works and finalise permitting, this order secures essential long-lead items crucial for maintaining our project schedule.”

Metso confirmed that the order, booked in its minerals segment for Q2 of 2025, may be expanded to include additional equipment as the project evolves.

“Metso fully supports G Mining Ventures’ approach to project development, plant engineering, and mine operations,” says Giuseppe Campanelli, President, North and Central America at Metso. “We believe our industry-leading Metso Plus portfolio of equipment and services aligns perfectly with GMIN’s strategy and adds sustainable value.”

The Oko West Gold Project, estimated at 5.4 million ounces of gold and is the cornerstone of GMIN’s corporate growth strategy.

Country Manager Bjorn Jeune hands over the revised ESIA report to Head of Mining, EPA, Colis Primo

Moreover, as part of its ongoing efforts to meet regulatory and environmental standards, GMIN on May 29 submitted a revised ESIA to the EPA. The handover was made by GMIN’s Country Manager Bjorn Jeune to Colis Primo, Head of Mining at the EPA.

The updated document incorporates feedback from community consultations and details the potential environmental and social impacts of the project. It also outlines GMIN’s proposed mitigation measures and strategies for regulatory compliance.

The company noted that the revised ESIA reflects its commitment to sustainable development and responsible mining in Guyana.

Following a business combination with Reunion Gold in 2024, GMIN took full control of the Oko West Gold Project, which is positioned to become the next major phase of growth for the company.

The 44 square-kilometer project is currently considered an “advanced-stage exploration project”, and is expected to produce 350,000 ounces of gold annually from both open pit and underground mining over 12.3 years at an all-in sustaining cost (AISC) of US$1,123/oz. A recently published feasibility study shows that the project is poised to deliver strong financial returns, thanks to low production costs. The Oko West project stands out for its scale and high-grade resource. The latest Mineral Resource Estimate includes 5.4 million ounces (Indicated) and 0.4 million ounces (Inferred).

The estimate reflects extensive drilling work over 505 diamond drill holes, 366 reverse circulation holes, and 59 trenches conducted between December 2020 and September 2024. A construction decision is anticipated in the second half of 2025.

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 EPA.

In March, 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.

GMIN has officially started the process to secure a mining licence for its Oko West gold. Alongside the mining licence application, GMIN has also begun seeking other critical permits needed to bring the project to full-scale operation. These include approvals for port operations, fuel use and storage, as well as the installation of transmission and telecommunications towers.

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