Uranium royalty to be negotiated when project moves to production

Aug 04, 2026 News

(Kaieteur News) – The royalty the Government of Guyana (GoG) will receive from any future uranium production at the Kurupung Uranium Project has not yet been determined, with company filings stating that the rate will be negotiated if and when an application is made for a mining permit.

The Kurupung Uranium Project spans approximately 92.2 square kilometres in Region Seven (Cuyuni-Mazaruni) and carries a historical resource estimate of 20.6 million pounds of uranium.

The project is now owned by Canadian firm U92 Energy, which acquired the project earlier this year through the acquisition of LIA Industries Pte. Ltd., a Singaporean firm.

According to company filings, “The royalty due to the Government of Guyana from production from large-scale mining is negotiated at the time that application is made for a mining permit. Applications can be made at any time during the term of a PL (prospecting licence).”

Notably, while the royalty will be determined once the mining permit application is made, Gibraltar-based ROPA Investments Limited has already secured the right to purchase up to half of the uranium produced during the initial phase of production from the Kurupung Uranium Project.

Kaieteur News reported that ROPA or a nominee it designates will retain off-take rights to 50% of the first 40 million pounds of uranium oxide (U3O8) produced from the project, effectively giving the firm an option to purchase up to 20 million pounds from initial production.

Since taking control of the asset, U92 has finalised a commercial agreement for an initial 5,000-metre diamond drilling programme, submitted environmental applications for drill pad preparation, and acquired the project’s historical exploration data.

U92 has described Kurupung as a project with a significant historical resource and a clear path to expansion, positioning it to meet growing global demand for nuclear energy as countries look to uranium as a low-carbon power source.

LIA Industries local subsidiary, LIA (Guyana) Inc. was incorporated in Guyana on 20^th March, 2023, and holds exclusive rights to occupy and explore the property under two Prospecting Licenses issued by the Guyana Geology & Mines Commission (GGMC) on 19^th April, 2024. The licences permit exploration of uranium, other radioactive minerals, and rare earth elements for three years, ending 18^th April, 2027, with an option to extend for up to two additional one-year periods through 18^th April, 2029.

Moreover, there have been concerns over the proposed uranium project from civil society and politicians. In fact, the Amerindian People’s Association (APA) has called for the project to be halted, citing the absence of public and community-level consultations and a lack of information about the project.

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Kurupung uranium project, negotiate, royalty, Uranium

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