#Brossard #Oko West #Guyana #G Mining Ventures

G Mining Ventures Announces Construction of Oko West Gold Project

G Mining Ventures Corp. has officially embarked on an exciting journey in the mining sector with the formal approval of the construction of the Oko West Gold Project located in Guyana. This significant milestone follows a series of successes related to securing financing and obtaining permits necessary for the project. The company's Board of Directors met to discuss the project, ultimately greenlighting the beginning of full construction.

Project Overview

The Oko West Gold Project is set to require an initial capital investment of approximately $973 million. As of now, detailed engineering for the project is about 36% complete, with procurement and commitments for long-lead items progressing. An impressive $334 million has already been dedicated to the project, constituting 33% of the overall capital budget set forth. Early works related to construction are reportedly advancing on schedule, positioning the project for success.

Louis-Pierre Gignac, President and CEO of G Mining Ventures Corp., commented on the importance of this decision, stating: "The official launch of construction at Oko West marks a major milestone in GMIN's evolution into an intermediate gold producer. With financing secured, we are advancing this fully permitted, world-class project using the disciplined approach that has served us well in past projects like Tocantinzinho. Oko West is poised to be a cornerstone of our growth strategy, with the first gold expected to be produced in the latter half of 2027."

Current Status as of September 30, 2025

As of the end of September 2025, G Mining Ventures has reported expenditures amounting to $156 million, which includes $110 million spent alongside an additional $46 million in prepayments. Total commitments for the construction phase now stand at $334 million, which is significant in the context of the entire capital cost estimate.

Workforce and Safety Measures

The project is currently employing a total workforce of approximately 710 people, comprising 520 employees and 190 contractors. Notably, over 80% of the workforce is comprised of nationals from Guyana. The safety of the workforce remains a top priority, with a Total Recordable Incident Rate (TRIFR) of just 0.33 recorded over 596,551 hours worked. Additionally, G Mining has partnered with the Ministry of Labour of Guyana to complete a technical training program that benefitted 200 locals.

Sustainability and Permitting

Sustainability is a vital component of the Oko West project. The project has been fully permitted under the Environmental Permit No. 20230912-RGIGM, which was issued by the Environmental Protection Agency on August 29, 2025, and is valid for five years, allowing for both construction and operational activities. Furthermore, licensing applications for mining have been submitted and approvals are expected later in the year.

Engineering Progress

As the project progresses, detailed engineering is advancing well at 36% completion. Significant strides have been made in the procurement of long-lead items, including essential equipment supplied by respected companies such as Wärtsilä for the power plant and Komatsu for mining equipment. Additionally, processing equipment has been purchased from Metso and FLSmidth, ensuring that the project employs top-tier machinery.

Early Works

Construction activities are underway with several initial works already completed. An expansion of the camp facilities has been initiated, expected to house 425 personnel. Site clearing efforts are 15% complete, and access roads have been constructed to improve logistics dramatically, reducing travel times significantly. Mass excavation work at the permanent camp is on track with 100% completion, and preparations for the tailings storage facility are already in progress.

Capital Costs and Future Outlook

The approved capital expenditure remains consistent with the Feasibility Study expectations, showcasing the company's commitment to maintaining financial discipline. Despite some increases in indirect costs, the overall plan continues to reflect a solid strategy to cultivate a successful production phase. The future looks promising for G Mining Ventures and the Oko West Gold Project, marking a crucial movement in their narrative as they strive toward becoming a solid player in the global gold mining industry.

For investors and stakeholders, the journey of Oko West poses a significant opportunity not only to be part of the project from its inception but also to witness its impact on the local economy and the mining landscape in Guyana.