Construction begins on US$5M tug, barge for Canadian gold firm

Jun 05, 2026 News

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(Kaieteur News) – Guyana Port Inc. (GPI) has officially commenced construction on the US$5 million tug and barge for G Mining Ventures Corp., the Canadian firm that owns the 4.64 million ounces Oko West Gold Project, located in Region Seven (Cuyuni-Mazaruni).

On Tuesday, GPI and GMIN celebrated the significant milestone by hosting of a keel laying and coin welding ceremony at GPI’s shipyard at Hope, East Bank Demerara Public Road.

The ceremony officially marked the beginning of construction of a state-of-the-art tug and barge that will support transportation and logistics operations for the Oko West Gold Project. The tug and barge are being constructed as part of a landmark agreement signed between the companies in March 2025.

In his remarks Chief Executive Officer (CEO) of GPI, Pritipaul Singh Jr., described the keel-laying as a significant milestone not only for the project but also for the continued growth of Guyana’s shipbuilding industry.

He noted that the vessels represent the successful combination of international design expertise, local investment, and Guyanese craftsmanship, demonstrating the country’s growing capacity to construct world-class maritime assets.

“This keel laying ceremony represents far more than the start of vessel construction. It demonstrates what can be achieved through strong partnerships, strategic investment, and confidence in local capability. Together with G Mining Ventures, we are building more than vessels—we are helping to build Guyana’s maritime future and creating a foundation for a sustainable shipbuilding industry that can serve the country and the wider region for generations to come,” said Singh.

Moreover, CEO of GMIN, Louis-Pierre Gignac in his remarks emphasised the importance of the partnership and the progress being made at the Oko West Gold Project. “A ceremony such as this is more than steel and infrastructure. It is about partnership, progress, and the collective effort required to transform a world-class mineral resource into a world-class mining operation,” Gignac said.

He added, “Today, Oko West is advancing on schedule and on budget. Construction activities continue to accelerate, major infrastructure is taking shape, procurement is well advanced, and our workforce continues to grow with Guyanese representing the majority of employees on the project. Each milestone brings us closer to our goal of first gold production in the second half of 2027.”

GMIN’s CEO further noted that the collaboration between the two companies demonstrates the critical role local businesses continue to play in supporting the country’s development. “Our collaboration with Guyana Port Inc. has been instrumental in supporting the safe and efficient movement of critical equipment and materials required for the construction of Oko West. As project activity continues to increase, this partnership demonstrates the important role that Guyanese businesses are playing in helping to build one of the country’s most significant new mining developments… As we lay this keel today, we are laying another foundation for that future, one built on safety, excellence, innovation, and collaboration,” Gignac stated.

Further, the audience also received a technical overview of the vessel construction project from Chief Operations Officer of GPI, Rajindra Singh, who explained that the 24-metre shallow-draft tug and the 60-metre flat-deck barge will be purpose-built to support mining and industrial logistics operations in Guyana’s riverine environment. He added that the tug and barge will be specifically designed for remote operations.

Singh also disclosed that the vessel package will provide a reliable transportation solution for equipment, construction materials, containers, and bulk cargo destined for the Oko West Project and other interior developments. He noted that the project reflects Guyana Port Inc.’s growing shipbuilding expertise and commitment to supporting the country’s expanding mining and infrastructure sectors.

“These vessels are more than marine assets; they are a logistics solution designed to support Guyana’s growing mining sector. Their construction demonstrates the technical expertise, innovation and shipbuilding capability being developed right here in Guyana, while providing reliable transportation to some of the country’s most remote operations,” Singh said.

Kaieteur News has reported that the Oko West Gold Project was added to GMIN’s portfolio back in 2024 following a business combination with fellow Canadian firm, Reunion Gold Corp. valued at US$638 million (C$875 million).  The project is estimated to hold 4.64 million ounces of proven and probable reserves at an average grade of 1.89 grams of gold per tonne.  Oko West is expected to produce about 350,000 ounces of gold annually over a 12.3-year mine life.

In a similar move like its business combination with Reunion, in April 2026, it was announced that GMIN entered into a definitive agreement with another Canadian company, G2 Goldfields for approximately US$2.2 billion (C$3 billion) to consolidate the two adjacent gold projects in Guyana: G2’s Oko-Ghanie Project and GMIN’s fully permitted and fully financed Oko West Project.

Acquiring G2 will bring the Combined Measured & Indicated Mineral Resources of 7.0 million ounces and Inferred Mineral Resources of 2.3 million ounces. The deal will also expand GMIN’s footprint in Guyana by 293 square kilometers (km²), creating a combined contiguous land package of over 362 km². G2’s Preliminary Economic Assessment (PEA) released last year, outlines a combined open pit and underground operation with a 14-year mine life and estimate total production of 3.2 million ounces gold. Annual production is projected to average 298,000 ounces during years three through 10.

The deal between GMIN and G2 is expected to close in June 2026, subject to shareholder and court approvals.

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• GMIN, Guyana Port Inc., Oko West Gold Project, Oko West wharf, Pritipaul Singh Jr.

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