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Aris Mining eyes Toroparu as Guyana’s next mega-gold mine
Location of both projects
Kaieteur News – Aris Mining Corp. says its Toroparu gold project is poised to follow the fast-track development path of G Mining Ventures’ Oko West project, signaling a new era for large-scale gold mining in Guyana.
The company highlighted that both Toroparu and Oko West each hold an estimated 5.4 million ounces of gold, positioning them among the country’s largest deposits. “Like Oko West, Toroparu is a substantial, open-pittable gold deposit benefiting from growing government support for responsible mine development,” Aris Mining stated. Last month, G Mining Ventures announced the start of full construction at its Oko West project in Region Seven, following permitting and financing milestones. The project carries an initial capital cost of US$973 million and is targeting an average annual production of 350,000 ounces over 12.3 years, with first gold expected in the second half of 2027.
As of September 30, 2025, detailed engineering was 36 per cent complete. The Oko West gold project is targeting an average annual production of 350,000 ounces of gold over a 12.3-year mine life. The mine is estimated to hold 5.4 million ounces of gold. The Oko West project is designed as a large-scale open-pit mine with additional underground production planned, and is forecast to deliver an average 350,000 ounces of gold annually over 12.3 years.
Meanwhile, Aris Mining is currently advancing Toroparu through its pre-feasibility stage, with plans for a conventional open-pit operation supported by a seven-million-tonne-per-annum processing plant. Toroparu is expected to produce an average 235,000 ounces of gold per year across more than 21 years, along with valuable copper by-products.
On October 31 Aris Mining Corporation announced the results of a new Preliminary Economic Assessment (PEA) for its 100 per cent-owned Toroparu Gold Project located along the Puruni River in the Toroparu Backdam, Region Seven (Cuyuni-Mazaruni).
Aris Mining disclosed that the PEA confirmed plans for a large-scale, long-life open-pit operation expected to produce an average of 235,000 ounces of gold per year over more than two decades.
The PEA outlines strong project economics, including a 21.3-year mine life, an after-tax Net Present Value (NPV5%) of US$1.8 billion, and an Internal Rate of Return (IRR) of 25.2%, based on a gold price of US$3,000 per ounce. 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.
Chief Executive Officer Neil Woodyer said the results demonstrate a major new growth opportunity for Aris Mining. He noted, “The Toroparu PEA outlines a major new growth and diversification opportunity for Aris Mining. After the GCM Mining and Aris Gold merger and the arrival of our management team in September 2022, we paused the Project’s previous construction plans to reassess the Project on a first-principles basis, which included completing a new geological interpretation, updating the mineral resource estimate, and undertaking optimisation studies. The result is a robust PEA that establishes a solid path forward.” Both mines come with multi-billion-dollar economic projections and strong investment. Initial capital costs are estimated at US$1 billion for Oko West and US$820 million for Toroparu. Aris Mining believes that Toroparu can advance on a similar trajectory as the government strengthens oversight while encouraging new investment.
The dynamics of both projects
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