G Mining Ventures (GMIN) has begun construction of the $973m Oko West gold project in Guyana, with first gold targeted in 2027.
The move follows a positive construction decision from the company’s Board of Directors, following the completion of permitting and financing milestones.
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GMIN said early works construction activities are advancing on schedule and detailed engineering is 36% complete.
Procurement efforts are progressing effectively, with $334m already committed, accounting for 33% of the total initial capital budget.
GMIN president and CEO Louis-Pierre Gignac said: “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 same disciplined, self-perform approach that delivered Tocantinzinho safely, on time and on budget. Oko West will build on that success as the next cornerstone of our growth strategy, with first gold targeted for the second half of 2027.”
As of 30 September 2025, the project has incurred $110m in spending, with an additional $46m in prepayments, totalling $156m in expenditures.
The total commitments for project construction have reached $334m, which is 33% of the total initial capital cost estimate of $973m.
The project employs a workforce of 710, comprising 520 employees and 190 contractors, with more than 80% being Guyanese nationals.
Situated south of the historical Oko gold district, approximately 95km west of Georgetown, the Oko West project includes a prospecting licence with an area of around 44km², 100% held by GMIN’s Guyanese subsidiary.
GMIN is focused on the acquisition, exploration and development of precious metal projects, aiming to capitalise on the value that comes from successful mine development.
In September 2024, GMIN signed an agreement to acquire the CentroGold Project in Brazil’s Gurupi Gold Belt from subsidiaries of BHP Group.
