G Mining Ventures has received an interim environmental permit for its Oko West gold project in Guyana, paving the way for early construction activities. The company plans to build infrastructure such as roads, a camp, and power facilities. A feasibility study is expected in June 2024, leading to a construction decision in the second half of the year.
G Mining Ventures has received an interim environmental permit from Guyana 's Environmental Protection Agency for the Environmental Impact Assessment (EIA) and Environmental Impact Statement submissions for the Oko West gold project. The interim permit is valid for one year and, together with a 'No Objection' letter received from the Guyana Forestry Commission, the company has fulfilled the requirements to initiate early works construction activities at Oko West .
A September 2024 preliminary economic assessment outlined an open pit and underground mining and milling operation at Oko West to produce 353,000ozpa of gold at an estimated all-in sustaining cost of $986/oz for 12.7 years following an initial capital investment of $936 million. 'We are excited to have the opportunity to commence early works activities ahead of schedule and to grow the local team in preparation for the main construction phase,' said G Mining Ventures chief executive Louis-Pierre Gignac. Early works the company plans to undertake this year include a barge landing facility, access and internal roads, an airstrip, a permanent camp, water and sewage treatment plants, power generation facilities and a communication tower. G Mining also aims to publish a feasibility study in the June quarter and make a construction decision in the second semester once the final permit has been received. The company anticipates receiving full environmental and site construction permits following a 60-day public opinion period. 'We continue to see G Mining as an emerging intermediate gold producer via a ramp-up of operations at its Tocantinzinho mine in Brazil and eventual commercial production being achieved in 2028 at Oko, which will bring its consolidated production profile to >500,000ozpa,' said Ventum Capital Markets analyst Phil Ker, who maintained a BUY rating on the company with a C$18.50 price target. G Mining bought Reunion Gold in 2024 in a C$875 million stock transaction to obtain Oko West
Mining Gold Guyana G Mining Ventures Oko West
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