Latest update January 20th, 2025 4:00 AM
Canadian mining firm eyes 4 flights weekly to export Guyana’s gold
—-to build own airstrip to accommodate twin-Otter-sized planes
Kaieteur News- Canadian mining firm, G Mining Ventures (GMIN) anticipates three to four flights weekly from their Oko West gold project located in Region Seven (Cuyuni-Mazaruni) to export gold from Guyana as well as facilitate other business and emergencies.
In April 2024, GMIN bought Reunion Gold, another Canadian company for some US$638 million – through this transaction GMIN acquired Reunion’s flagship Oko West Mine. The Oko West project is expected to produce 353,000 ounces of gold annually over its 12.7-year mine life, with a total output of 4.5 million ounces.
The Oko West Mine
On Wednesday November 27, GMIN submitted the Environmental Impact Assessment (EIA) and Environmental Impact Statement (EIS) for the Oko West project to Guyana’s Environmental Protection Agency (EPA).
In a statement the company said, “The comprehensive documents were officially submitted…this submission marks a significant step forward advancing the Oko West Gold Mines Project, emphasising GMIN’s commitment to sustainable and environmentally responsible mining practices.”
In one of the documents, it was stated that an airstrip will be constructed in the project area. It was explained that while a number of alternative locations were considered, in the end it was decided that the airstrip will be located to the south of the mine infrastructure and close to the pit/processing plant.
“The airstrip will be designed to accommodate airplanes up to the size of a Twin-Otter or Caravan and will be approximately 850 meters long. The airstrip will be used for the export of gold, personnel transport, and health and safety emergencies during all phases of the Project,” it was stated.
An average of three or four flights is anticipated per week. These flights will occur during daylight hours, as the airstrip will not be lit. Gold production is slated to commence by 2028. “The airstrip will be unpaved and constructed from laterite. The airstrip will be oriented northeast-southwest, as required by prevailing winds,” the document states.
By the third quarter of 2025, GMIN is looking to start construction on its gold project. The Oko West Preliminary Economic Assessment (PEA) highlights an average gold grade of 2.00 grams per tonne (g/t) and a high metallurgical recovery rate of 92.8%. The company had said that the PEA confirms strong economics for a low-cost, large-scale mining operation using both conventional open pit (OP) and underground (UG) methods.
According to GMIN, with operating costs well below industry averages and a high rate of return, the project is ideally positioned to benefit from favourable macro-economic conditions, including strong gold prices, low inflation, and Guyana’s rapidly developing economy. The open pit mine is projected to have a life of 15 years, which includes 2 years of pre-stripping and involves four pit phases. In contrast, the underground mine is expected to operate for 13 years, including 2 years of development, across three zones.
The milling operation is planned to run for 13 years. It was explained that during the first three years of commercial production, the processing feed will be provided entirely by the open pit. From the fourth year onward, underground mining will begin supplying a significant portion of the mineralized material. Notably, the Oko West project payback period is estimated at 3.8 years, based on a gold price of US$1,950 per ounce.
(Canadian mining firm eyes 4 flights weekly to export Guyana’s gold)
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