Latest update October 15th, 2026 10:30 AM
Omai eyes 2030 production startup
(Kaieteur News) – Canada-based Omai Gold Mines is working towards a 2030 production target at its gold project in Region Seven (Cuyuni-Mazaruni), which is projected to produce 6.3 million ounces of payable gold over an 18-year mine life, including peak annual production of 435,667 ounces.
The Omai Gold Mine hosts the Wenot open pit deposit and the adjacent Gilt underground deposit. Omai, through its subsidiary Avalon Gold Exploration Inc., owns 100% interest in the mine, which produced over 3.7 million ounces of gold from 1993 to 2005.
In a statement following the release of the project’s Preliminary Economic Assessment (PEA), Avalon said it is working towards a 2030 production objective, subject to further technical studies, environmental and regulatory approvals, financing and a future construction decision.
An aerial view of Omai Gold Mine (Tagewantie Nokram photo)
Alongside technical development, the company is progressing through the environmental review process. OMAI’s application for an Environmental Impact Assessment (EIA) has been submitted to the Environmental Protection Agency (EPA) and public consultations have been held in Linden, Mile 58, Georgetown and Mahdia. The company said it working with the EPA to determine the Terms and Scope for the next phase of baseline and environmental studies, with further stakeholder engagement expected as the process advances.
According to Avalon, project planning will address areas including water management, tailings safety, biodiversity, waste management, monitoring, rehabilitation and mine closure, alongside occupational health and safety systems appropriate for a modern mechanised operation.
“If developed, OMAI is expected to contribute to Guyana’s economic diversification through wages, local procurement and investment and, once in production, applicable taxes and royalties. The company’s stated objective is to build on OMAI’s long legacy in Guyana by creating sustained value for all stakeholders, including workers, communities, businesses and the wider economy,” the company noted.
Since its return to “mining-friendly” Guyana in 2020, Omai has embarked on an aggressive drilling campaign, looking to reclaim its position as a top gold producer in South America.
The PEA mine plan incorporates both the Wenot and Gilt deposits and support production averaging 351,488 ounces of gold annually over an 18-year mine life, with peak year production of 435,667 ounces. According to the PEA, the combined production from the two deposits is estimated at 6,326,775 ounces of payable gold.
Notably, the PEA is based on the updated Mineral Resource Estimate (MRE) published in April. That MRE outlines approximately eight-million ounces of gold resources – 2,495,000 ounces of gold in the indicated category and 5,465,000 ounces in the inferred category. The Wenot deposit comprises 1,453,000 ounces in the Indicated category and a further 4,000,000 ounces in the inferred category. Meanwhile, the Gilt deposit hosts an Indicated MRE of 1,040,000 ounces and inferred of 1,470,000 ounces of gold.
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