Canadian firm announces plan to advance, integrate 3.2M ounce gold project with 4.64M Oko West project

Aug 14, 2026 News

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(Kaieteur News) – Now that G Mining Ventures Corp. (GMIN) has finalised the US$2.2 billion acquisition of fellow Canadian firm G2 Goldfields Inc. (G2’s) gold project in Region Seven (Cuyuni-Mazaruni), the company is set to launch an integration programme to advance and integrate G2’s Oko-Ghanie project.

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.

In its 2026 second quarter results published on Wednesday, GMIN outlined that the completion of the G2 acquisition creates a tier-one gold asset with potential to deliver substantially increased average annual gold production over the life of mine (LOM) once the expansion is completed.

GMIN noted that the integration programme is aimed at advancing the Oko-Ghanie deposits through infill drilling to support an integrated Mineral Resource Estimate (MRE) and an updated Feasibility Study (FS) for an expanded Oko Gold Project.

“Complementary technical programmes, including metallurgical, geotechnical, and other engineering studies, will also commence in the second half of the year to support the integrated project development,” the company disclosed.

In its recent update, GMIN underscored that the acquisition further elevates the company’s industry-leading near-term growth profile.

The acquisition enables planned production at Oko West Gold Project 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. 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.

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. In relation to the Oko-Ghanie project, GMIN previously clarified that the project’s mineral resource from its perspective does not represent a “current” mineral resource estimate of the Oko-Ghanie Project. Rather, it was stated that it was provided by GMIN as a “historical estimate.”

Louis-Pierre Gignac, President and Chief Executive Officer (CEO) of GMIN commented, “At Oko, construction continues to advance on schedule and on budget, keeping us firmly on the path toward first gold pour in the second half of 2027, and Gurupi’s development roadmap continues to take shape. The acquisition of G2 Goldfields Inc. consolidates the Oko district into a globally significant tier-one gold mining complex in a world class geological district.”

As it relates the Oko West project which is at a more advanced stage than the Oko-Ghanie project, GMIN said construction remains on schedule, with first gold pour targeted for the second half of 2027 and commercial production expected in early 2028.

It also disclosed that more than 2.3 million person-hours have been worked at Oko West with over 1,700 employees and contractors currently on site. Notably, 77% of Oko West workforce is Guyanese nationals.

According to GMIN, as of June 30, the overall project progress had reached 28.0% based on earned value, with construction advancing on schedule across key work areas, including the process plant, power plant, tailings storage facility and site infrastructure. Also, at the end of June some US$423 million had been spent on the project, representing 44% of the approved initial capital budget of approximately US$973 million, with approximately US$550 million remaining to be spent through completion.

“Total commitments reached approximately US$628 million, or 65% of the approved budget. 2026 represents the peak construction year, with expected project spending of US$514 to US$568 million, of which US$219 million was spent during the first half of the year,” GMIN said.

Moreover, the company disclosed that detailed engineering is approximately 90% complete and is expected to conclude in the third quarter of 2026, while it said that procurement had reached approximately 99% completion as of the end of June.

Kaieteur News reported that GMIN’s entry into Guyana was secured in 2024 through a business combination with another Canadian company, Reunion Gold Corp., valued at US$638 million.   GMIN’s deal with Reunion added the Oko West Gold Project to its portfolio.

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• Cuyuni-Mazaruni, G2’s Oko-Ghanie project, GMIN, Gold Mining, Guyana Gold, Oko West

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