G-Mining Ventures Corporation Announces Ambitious Plans for Oko West Project in Guyana

About the Project

G-Mining Ventures Corporation, a Canadian mining company with operations in Brazil, has announced ambitious plans for its Oko West Project in Guyana, which is set to begin production in 2027. The company is investing US$1.5 billion into the project, aiming to produce 350,000 ounces of gold annually once operations are fully underway.

Project Highlights

The Oko West Project, located in Region Seven of Guyana, was unveiled during an education forum held on Wednesday, where Bjorn Jeune, the Country Manager for G-Mining Ventures in Guyana, highlighted the project as a major milestone for the country’s growing natural resource sector.

“With a projected mine life of 13 years, we anticipate the production of over 350,000 ounces of gold annually. The ripple effect of which will be the creation of at least 1,500 jobs, with a strong focus on local employment and capacity-building,” Jeune said.

Project Details

The project includes both open pit and underground mining. The company is currently transitioning to mine development, and construction of the mine site is estimated to begin in the second quarter of 2025.

Corporate Social Responsibility

G-Mining Ventures Guyana has established a Multi-stakeholder Working Group (MSWG) to foster collaboration and transparency in Region 7 as the project unfolds. The company is also working closely with Government agencies to ensure the successful implementation of the gold mining project, which is expected to boost the economy.

As part of its corporate social responsibility, G-Mining Ventures Guyana has signed a Memorandum of Understanding (MoU) with the Board of Industrial Training (BIT), through the Ministry of Labour to train local workers at the BIT Centre in Bartica. Jeune assured that the Oko West Project will offer employment opportunities to many of the trainees, thereby enhancing the local workforce.

Additionally, through its scholarship agreement with the University of Guyana, several geology students have benefitted—and will continue to benefit—from educational support.

Government Partnership

Minister of Labour, Joseph Hamilton said his Ministry is pleased to partner with the gold company.

Conclusion

The Oko West Project is a significant milestone for Guyana’s natural resource sector, and G-Mining Ventures Corporation is committed to ensuring its successful implementation. The project is expected to bring numerous benefits to the local economy and workforce, and the company is working closely with Government agencies to ensure its successful implementation.

FAQs

Q: What is the projected mine life of the Oko West Project?
A: The projected mine life is 13 years.

Q: What is the expected production of gold annually?
A: The expected production is 350,000 ounces of gold annually.

Q: When is the construction of the mine site expected to begin?
A: Construction of the mine site is estimated to begin in the second quarter of 2025.

Q: What is the company’s corporate social responsibility commitment?
A: G-Mining Ventures Guyana has signed a Memorandum of Understanding (MoU) with the Board of Industrial Training (BIT), through the Ministry of Labour to train local workers at the BIT Centre in Bartica, and has also established a scholarship agreement with the University of Guyana to support geology students.