G Mining Ventures Approves Full Construction of $973 Million Oko West Gold Project in Guyana
TL;DR
G Mining Ventures gains strategic advantage by securing full construction approval for its Oko West Gold Project, positioning for intermediate gold producer status with first production targeted for 2027.
G Mining Ventures has completed 36% of detailed engineering and secured $334 million in procurement commitments, representing 33% of the $973 million total budget for the Oko West Gold Project.
The Oko West Gold Project development creates economic opportunities in mining-friendly Guyana while GMIN applies its proven safe and disciplined approach to responsible mine development.
G Mining Ventures is building a world-class gold project in Guyana using the same successful approach that delivered its Tocantinzinho mine safely, on time and on budget.
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G Mining Ventures Corp. has announced that its Board of Directors has approved full construction of the company's 100%-owned Oko West Gold Project in Guyana following the completion of permitting and financing milestones. The project represents a $973 million initial capital investment and signifies a crucial step in GMIN's evolution toward becoming an intermediate gold producer. According to company statements, detailed engineering for the project is currently 36% complete, with procurement commitments reaching $334 million, representing approximately 33% of the total budget.
Early construction works are reported to be advancing according to schedule, positioning the project for continued progress toward its operational timeline. Louis-Pierre Gignac, President and CEO of G Mining Ventures, emphasized the significance of this development, stating that the official launch of construction at Oko West marks a major milestone in the company's evolution. He noted that with financing secured, the company is advancing this world-class project using the same disciplined, self-perform approach that successfully delivered the Tocantinzinho project safely, on time and within budget.
The company has targeted the second half of 2027 for first gold production from the Oko West project. This timeline reflects the comprehensive development plan that GMIN has implemented for the project, building on the company's established track record in mine development and operations. Investors and stakeholders can access additional information through the company's official communications channels, including the full press release available at https://ibn.fm/uOHue and ongoing updates in the company's newsroom at https://ibn.fm/GMINF.
The project represents one of the significant gold development initiatives currently underway in the mining-friendly jurisdiction of Guyana. The approval of full construction follows the company's successful navigation of critical permitting and financing requirements, demonstrating GMIN's capability to advance major mining projects through the development pipeline. The Oko West Gold Project now joins the company's TZ Gold Mine in Brazil as cornerstone assets in GMIN's portfolio, supporting the company's strategic growth objectives in the precious metals sector.
Curated from InvestorBrandNetwork (IBN)
