Latest update March 28th, 2026 12:30 AM
Latest News
Canadian firm to build massive airstrip for Toroparu US$14.7B gold project
(Kaieteur News) – Canadian mining giant Aris Mining Corporation is preparing to break ground on an international-standard airstrip deep in the Cuyuni-Mazaruni, a move that signals the company’s intent to fast-track operations at its massive US$14.7 billion Toroparu Gold Project, one of the largest undeveloped gold deposits in South America.
The Toroparu Gold Project
The Toroparu Project located in Region Seven (Cuyuni-Mazaruni) is being developed through Aris Mining’s local subsidiary, ETK Inc. The project is expected to produce an average of 235,000 ounces of gold per year over more than two decades. The project’s life-of-mine production is estimated at 5.0 million ounces of gold, 4.9 million ounces of silver, and 260 million pounds of copper.
In its Preliminary Economic Assessment (PEA) for the project, the company noted that the new 1,750-metre-long airstrip will replace the existing one, which sits within the footprint of the main Toroparu pit.
According to the PEA, the relocated facility will be built to accommodate larger aircraft and will serve as a key logistics hub for transporting personnel, equipment, and goods to and from the mining site.
The company explained that the runway will be aligned parallel to the prevailing southeast wind direction and enclosed within a 70-metre boundary zone on both sides along the centreline to restrict the height of structures nearby. It was also stated that the airstrip will have a total width of 60 metres of clear space, ensuring compliance with international safety and operational standards.
Aris Mining said the upgraded facility will include two main security access points. The first will be located along the main access road adjacent to the relocated airstrip and will feature a truck parking and staging area, logistics and security offices, and an aircraft hangar for temporary storage and emergency overnight shelter.
A second access point will be established at the processing plant, serving as a controlled entry between low and high-security areas. It will include a security office and change house for all personnel accessing the high-security and mining zones.
Aris Mining also stated in the PEA that the Government of Guyana, through the Ministry of Natural Resources and the Ministry of Public Works, has agreed on the terms of a road users’ agreement that will facilitate unhindered access to the project site. The agreement provides that ETK will maintain and rehabilitate sections of the public road leading to the Toroparu project, subject to final terms.
Kaieteur News had reported that Guyana is set to reap an estimated US$3.4 billion in taxes and royalties from the Toroparu Gold Project, which is expected to generate US$14.7 billion in gold sales based on a base gold price of US$3,000 per ounce over its 21-year mine life.
The PEA states that at a base gold price of US$3,000 per ounce, the project is expected to contribute US$2.2 billion in income taxes and US$1.2 billion in royalty payments to the Government of Guyana, bringing the country’s total projected earnings to US$3.4 billion. At the same gold price assumption, the Toroparu gold project is projected to deliver an after-tax Net Present Value (NPV5%) of US$1.8 billion, an Internal Rate of Return (IRR) of 25.2%, and a payback period of three years.
Under the Mineral Agreement with the Government of Guyana, the project will pay an 8% royalty on gold sales, 1.5% on silver, and 1.5% on copper. It was stated that the royalties are deductible from taxable income under Guyana’s 30% corporate tax rate. Notably, a 2011 mineral agreement between ETK and the Government of Guyana established a tiered gold royalty of 5% for prices up to US$1,000 per ounce and 8% for prices above that.
According to information from the company’s website, the project site was first mined by Alfro Alphonso in 1997 and explored by ETK from 1999 under a joint venture with Alphonso. ETK acquired full ownership in 2020, paying US$20 million to exercise its option, while Alphonso retained certain alluvial rights and access privileges, ETK also secured an investment agreement with GO-Invest granting tax exemptions on project-related imports.
Discover more from Kaieteur News
Subscribe to get the latest posts sent to your email.
Similar Articles
THE BLUNT OF THE DAY
Sports
Features/Columnists
Sir. Ronald Sanders
The GHK Lall Column
Weekend Cartoon
