Canadian firms working through final conditions to close US$2.2B deal for tier-one gold mining hub in Guyana

Jul 14, 2026 News

(Kaieteur News) – Canadian firms G Mining Ventures (GMIN) and G2 Goldfields Inc. are working through the final stages to complete the US$2.2 billion acquisition that will see the firm’s gold properties in Guyana combined into a 7-million-ounce tier-1 mining hub.

In an update on Monday, GMIN’s president and chief executive officer (CEO) Louis-Pierre Gignac said, “We remain fully committed to closing the acquisition and creating a tier-one gold mining hub in Guyana and one of the largest, lowest-cost gold operations in the Americas.”

GMIN noted that the transformational transaction marks a significant milestone in its growth strategy. “By combining complementary assets and leveraging our proven mine development expertise, G Mining Ventures is reinforcing its position as an emerging mid-tier gold producer, with a portfolio anchored in Brazil and Guyana,” the company said.

It was also noted that the parties are actively working through the remaining closing conditions, which are expected to be completed by the end of July 2026. Last month, the Ontario Superior Court of Justice (Commercial List) and G2’s shareholders already approved among other things for GMIN, to acquire all of the issued and outstanding common shares of G2 and for G2 to complete the spin-out of a new company, G3 Goldfields Inc. – which will hold G2’s remaining properties not included in the acquisition.

GMIN and G2 Goldfields are both Canadian firms that own gold projects in Region Seven (Cuyuni-Mazaruni). The deal allows the companies to consolidate the two adjacent gold properties, G2’s Oko-Ghanie project with GMIN’s fully permitted and fully financed Oko West project which holds 4.6 million ounces of proven and probable reserves.

The acquisition enables planned production at Oko West to increase the mine’s annual production from 350,000 to reach approximately 500,000 ounces of gold per year over a minimum mine life of 15 years. By itself, the Oko West project is expected to produce about 350,000 ounces of gold annually over a 12.3-year mine life.

Meanwhile, according to G2, its Oko-Ghanie gold project average annual output is expected to reach 281,000 ounces annually during the mine’s peak years-with a total production of approximately 3.2 million ounces of gold over the life of mine.

The arrangement to consolidate the projects 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.

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G Mining Ventures, G2 Goldfields Inc., Gold Mining, Guyana Gold, tier-one gold mining hub

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