GMIN begins construction on US$1.5B Oko West gold project

– annual production expected to be 350,000 ounces from 2027

G Mining Ventures Corporation (GMIN) has officially commenced site preparation activities at its Oko West Gold Project in Region Seven (Cuyuni-Mazaruni), Guyana, marking a significant milestone in the country’s mining sector.
The US$1.5 billion project is expected to produce 350,000 ounces of gold annually when it becomes operational in 2027.
Located 95km south-west of Georgetown, the Oko West project spans 44 sq. km, and is positioned as a world-class gold-producing mine. The project gained momentum following the October 2023 gold discovery announcement by the Natural Resources Ministry, which highlighted the area’s potential for large-scale mining.
With an Interim Environmental Permit (IEP) already granted by the Guyana Environmental Protection Agency (EPA), GMIN has launched an early works construction programme, as part of its US$200–240 million capital expenditure for 2025. The company is, at the same time, advancing efforts to obtain a full environmental license to support full-scale mining operations.
In a release on Wednesday, G Mining Ventures revealed that the early works phase includes the construction of a barge landing facility on the Cuyuni River, along with main access roads and internal roads, to improve transportation to and from the site. Specifically, a new airstrip will be built to support logistics and provide greater connectivity to the project area.
Additionally, a permanent camp facility will be established to house workers, along with water and sewage treatment plants to ensure proper sanitation. Infrastructure for power generation and a communications tower will also be developed to support the project’s operational needs.
According to Louis-Pierre Gignac, President and Chief Executive Officer of GMIN, “…the start of early works construction at Oko West, demonstrates the company’s commitment to delivering another world-class gold project”.
He noted that site preparation activities are already underway, leveraging GMIN’s expertise to ensure seamless execution, while upholding high safety, environmental, and social standards.
Meanwhile, GMIN’s Country Manager, Bjorn Jeune, highlighted the positive economic and social impact of the project, stating that tangible progress is now visible on the ground.
He also affirmed that this phase reflects the company’s long-term commitment to Guyana’s mining sector, with a strong focus on local development, environmental stewardship, and safety.

Gold declaration
Guyana recorded a sizeable increase in gold production last year, with Natural Resources Minister, Vickram Bharrat revealing that gold brought in total earnings of US$989.9 million in 2024 – an increase of more than US$180 million.
During an End-of-Year press conference on Tuesday, Bharrat provided an update on the performance of the gold mining sector over the past year. He stated that both gold production and declarations saw an increase in 2024 compared to the previous year.
“In 2024, we have started to see a reversal in production, whereby there’s been a small increase in production and declaration. However, with the increase in gold production over 2023, it has brought in an increase in revenue of US$181 million.”
“Total earnings of US$989.9 million in 2024, in comparison to US$808.6 million in 2023. So, we have seen a massive increase in revenue in the gold sector in 2024, in comparison to 2023,” the minister also said.
In addition to the earnings from gold, 434,000 ounces of gold were also declared. Bharrat described these figures as a very encouraging sign, with a number of key stakeholders either expanding or restarting their mining operations. It was also pointed out that there are gold producers like Canadian company Reunion Gold which are gearing up to begin their gold mining journey.
“The Aurora gold mines, or Zijin group of companies. They have employed, currently, over 2,000 employees. That’s a significant increase. They’ve been investing a lot, including in underground mining. Today they boast 2,300 employees. They’re poised to increase that.”
“We have Reunion Gold. We signed that agreement in 2024. They’ve already started initial works. They will start construction of their mines in 2025, 2026, creating another 1000 to 1500 jobs, especially for residents in Bartica surrounding areas,” he added.