US$ 1.5B Oko West Gold project to boost Guyana’s mining sector

The US$1.5 billion Oko West Gold project in Region Seven is expected to boost Guyana’s mining industry when it begins operations in 2027.

The gold project being developed by G Mining Ventures Guyana Inc is located in the Cuyuni-Mazaruni Mining District, approximately 70 kilometres from the capital of Bartica.

An educational forum on the project was held On Wednesday at the Pegasus Suites and Corporate Centre in Kingston, Georgetown.

Addressing the gathering, Minister of Home Affairs Robeson Benn said the investment represents a significant opportunity for sustainable development in Guyana’s natural resources sector.

He noted that the project aligns with the government’s goals to diversify the economy, reducing its reliance on the oil and gas sector.

“We will not rely and subsist or make perhaps the mistake of other countries on relying on one source base – oil and gas. We want a holistic, broad base development of our country,” Minister Benn stated.

Reflecting on the historical context of mining in Guyana, the minister noted that the sector had nearly collapsed in the past.

He affirmed that since returning to office, the PPP/C Government has been focused on reviving and maintaining the industry.

“We have come back and we are keeping our promise to all the people of Guyana,” he emphasised.

The project is expected to significantly boost employment, with around 1,700 workers needed for the mine’s construction over the next two and a half years, followed by an additional 1,500 for its operation over a planned 13-year lifespan.

Meanwhile, Minister of Labour Joseph Hamilton said the training opportunities will accompany the project.

The ministry’s Board of Industrial Training (BIT) has signed a Memorandum of Understanding (MoU) with G Mining Ventures to train local workers at its Bartica centre.

“We have to rethink; we have to retool and revolutionised education delivery. I can commit to the company and all stakeholders that the Board of Industrial Training will play its part in ensuring that what you set out to do succeeds,” Minister Hamilton stressed.

Upon completing training with BIT, participants will benefit from employment opportunities at the mine.

Additionally, G Mining Ventures’ Country Manager Bjorn Jeune underscored the company’s focus on local employment and capacity building.

He noted that a multi-stakeholder group will be established to address community needs and ensure transparency.

Jeune also pointed to a scholarship partnership with the University of Guyana to support geology students.

“We are not only investing in the immediate future but also in the long-term development of Guyana’s talent pool,” Jeune said.

When operational, the Oko West project is expected to produce over 350,000 ounces of gold annually, providing a major boost to Guyana’s economy and mining industry.