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‘Guyana has been great for us, very pro-mining – OMAI CEO
(Kaieteur News) – Guyana is once again praised as a mining-friendly jurisdiction with supportive policies, with the President and Chief Executive Officer (CEO) of OMAI Gold Mines Corp., Elaine Ellingham saying that the country has been “great” to the company in its quest to return to gold production.
Since its return to Guyana’s mining sector in 2020, OMAI, through its subsidiary Avalon Gold Exploration Inc., has identified 2.5 million ounces of gold in the indicated category at the historic OMAI Gold project. The company holds 100% interest in the project which hosts two orogenic gold deposits: Wenot and Gilt.
President and Chief Executive Officer (CEO) of OMAI Gold Mines Corp., Elaine Ellingham
During a recent interview with the KE Report, Ellingham described Guyana as an attractive destination for mining investment. She outlined that government understands the industry and has fostered an environment conducive to support long-term gold operations. “I think OMAI is going to get fast-track to production. The government and the communities want to see this back in production but probably some green energy not too far down the road,” she said.
“If a company wants to come into a new jurisdiction, like Guyana has been great for us, they’re very pro mining. They understand it, lots of skills in country…if you’re going into a new jurisdiction, a company wants to know that their investment there is going to be in production for a long time. And we’ve shown that,” she said.
She reiterated that government’s planned 165-megawatt (165MW) Amaila Falls Hydropower Project and the liquefied natural gas (LNG) facility which is a component of the US$2 billion Gas-to-Energy (GTE) project at Wales, West Bank Demerara could support future expansions of its processing plant by providing lower-cost power.
She pointed to the improved access to its project located in Region Seven (Cuyuni-Mazaruni), benefiting from the country’s US$190 million Linden-to-Mabura Road project. The Linden-to-Mabura Road passes within 12 kilometres of the company’s property.
Ellingham explained that Guyana’s annual rainfall makes paved roads especially valuable for mining operations. “It rains over 2 metres a year in Guyana, when roads are dirt roads, they obviously get muddy. So, to have a paved road is really a luxury. It’s a luxury for any mine anywhere in the world, actually,” the CEO said.
Beyond road infrastructure, Ellingham said planned energy projects could further strengthen the economics of the OMAI Gold Project by reducing future operating costs. She highlighted the proposed 165-megawatt Amaila Falls Hydropower Project, noting that OMAI has already submitted an expression of interest for approximately 40 megawatts of electricity should the project proceed. The transmission line would pass within about 20 kilometres of OMAI’s proposed processing plant. “That would be an incredible win,” she said.
The company has been engaged in drilling activities at both the Wenot and Gilt deposits as part of the company’s 50,000-metre exploration programme as preparations are ongoing for the project’s Preliminary Economic Assessment (PEA), expected within the next four to six weeks.
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