Canadian firm says Guyana gold project to lift annual output to 750,000 ounces

Jun 29, 2026 News

(Kaieteur News) – Chairman and Chief Executive Officer (CEO) of Canada-based Aris Mining, Neil Woodyer says the addition of the Toroparu Gold Project in Guyana to its portfolio will push the company’s annual gold production to 750,000 ounces.

Canadian firm says Guyana gold project to lift annual output to 750,000 ounces

Chairman and Chief Executive Officer (CEO) of Canada-based Aris Mining, Neil Woodyer

Speaking during the Rule Symposium 2026, Woodyer said the company expects to complete a prefeasibility study for Toroparu within the next few months, paving the way for a construction decision early 2027.

He explained that the Guyana project will require about US$800M in investment and is expected to produce about 250,000 ounces of gold annually for roughly 20 years. “So again, that takes us up to 750,000 ounces annually,” he said.

The Toroparu Project also located in Region Seven, is one of the largest undeveloped gold deposits in Guyana. This project is being developed by ETK Inc. a subsidiary of Aris Mining Corporation. Overall, the project is expected to yield approximately five million ounces of gold, 4.9 million ounces of silver, and 260 million pounds of copper over its mine life.

Moreover, he also disclosed that the company fully financed to finish off construction of one of its Columbia projects and advance Toroparu development without seeking external funding.

“We have about $470 million of cash. We did a bond a couple of years ago. It’s got another three or four years to go…we are generating cash as well…We don’t need to go outside to get financing.” Woodyer shared.

Notably, Aris has already begun pre-construction activities at the site, including the construction of a bridge at the Puruni River crossing and ongoing road works to improve access to the project.

The Toroparu deposit is located on a property that was originally subject to a Mining Joint Venture Agreement between Guyanese conglomerate Alfro Alphonso and Gregory K. Graham, effective 1^st August, 1999. This arrangement, initially called the Upper Puruni Venture, was later amended and restated on 1^st January, 2008, through an agreement between Alphonso and ETK Inc. giving Aris’ subsidiary control of the massive gold project.

An aerial view of the Toroparu Gold Project

Moreover, the projection of 750,000 ounces annually, follows ongoing expansions at Aris Mining’s Colombian operations. Woodyer said the company expects production from its Marmato and Segovia mines to reach a combined 500,000 ounces annually as expansion works are completed next year.

According to Woodyer Aris currently holds 9.3 million ounces in gold reserves grading 6.1 grams per tonne, spreading across four assets: Segovia, Marmato, Soto Norte and Toroparu in Guyana. Aris Mining was started about five years ago. The company is concentrating on Latin America following the build and buy strategy.

Looking ahead, Woodyer said Aris expects to complete the Toroparu prefeasibility study and make a production decision around the same time its Colombian operations reach the 500,000-ounce mark. He noted, “We should also have ramped up Segovia to about 300,000 ounces by the end of this year, which will be about the same time we’re coming out with our prefeasibility study and hopefully a production decision on Guyana,” he added.

Woodyer had previously stated that Toroparu and its Columbia projects place Aris Mining on a clear path toward eventually producing one million ounces of gold annually. He stressed that this milestone achieved by only a handful of gold mining companies worldwide.

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Aris Mining, Guyana gold project, Toroparu Gold Project

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