Oko West Gold project moved from environmental approval to mining licence and construction phase within 12 months – report

Jun 11, 2026 News

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…Canadian firm says US$59.1M spent on local procurement

(Kaieteur News) – The Oko West Gold project owned by a Canadian firm G Mining Ventures Corp. (GMIN) moved from environmental permit approval to mining licence approval and the commencement of construction within approximately 12 months.

The update was highlighted in the company’s 2025 Sustainability Report, published on June 5, which outlined its environmental, social and governance (ESG) performance for the year ended 31^st December, 2025.

Among the key achievements listed in the report, GMIN noted the responsible project advancement of Oko West, stating that the project moved from environmental permit approval to mining licence approval and construction commencement in roughly one year.

Early 2025, GMIN received an interim permit which allowed the company to begin early works at Oko West project which included the development of a wharf on the Cuyuni River, access roads, and construction of the permanent camp. By September 2025, GMIN announced that the Environmental Protection Agency (EPA) approved the environmental permit for the project.  The five-year permit is valid through July 2030. It authorises the construction and operation of Oko West.  By the end of 2025, the Guyana Geology and Mines Commission (GGMC) in 2025 granted GMIN a 20-year mining licence for the project. The licence, which took effect on 5^th December, 2025, authorises full development, operation and commercial production at the site.

The project is located in Region Seven (Cuyuni-Mazaruni), about 100 kilometres southwest of Georgetown, and approximately 60 kilometres from Bartica.

The project covers a 68 square kilometers (km²) prospecting license area. GMIN’s exploration to date has outlined 5.4 million ounces of indicated gold resources and 0.4 million ounces of inferred material. In relation to proven and probable reserves, the Oko West is estimated to hold 4.64 million ounces of gold at an average grade of 1.89 grams of gold per tonne. The project is expected to produce about 350,000 ounces of gold annually over a 12.3-year mine life.

Moreover, GMIN in its 2025 Sustainability Report also disclosed that it spent approximately US$59.1M on local procurement in Guyana during 2025. According to the report, GMIN maintained a strong safety record, recording no work-related fatalities across approximately 3.7 million hours worked. The company also reported zero significant environmental non-compliances, fines or regulatory sanctions across its portfolio.

In addition, local workforce participation stood at approximately 80 per cent at both the Oko West Project and the company’s Tocantinzinho Mine in Brazil.

The Oko West project, which will include both open-pit and underground mining, has been advancing on schedule and on budget. Oko West is expected to become one of the most significant new mining operations in the region. The project is backed by an initial investment exceeding US$972M.

GMIN had previously disclosed that it made substantial progress across engineering, procurement, site infrastructure and process plant development. By the end of the first quarter of 2026, the project achieved an overall completion rate of 19.7 per cent; this includes the completion of the barge landing caisson and ramp at the project site. Meanwhile construction at the tailings storage facility development is progressing and the power plant is expected to be operational in July 2027, while the grinding mills are expected to be operational by August 2027.

First gold pour is targeted for the second half of 2027 and commercial production is expected by January 2028.  GMIN has already revealed that it anticipates three to four flights weekly from the Oko West gold project site to transport gold from the interior, as well as facilitate other business and emergencies.

Kaieteur News 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$638M (C$875 million).

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$2.2B (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 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 is expected to close this month, subject to shareholder and court approvals.

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• GMIN, Gold Mining, Guyana Gold, mining licence, Oko West Gold Project

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