Canadian Mining Company to Produce 350,000 Ounces of Gold Yearly in Guyana

• Mining Ventures Corporation, a Canadian mining company, is aiming to produce 350,000 ounces of gold annually when its US$1.5 Billion Oko West Project begins operation in Guyana in 2027. The company, which has operations in Brazil, unveiled the Oko West Project during an education forum on Wednesday 
• According to Guyana’s Country Manager for G-Mining Ventures, Bjorn Jeune, the Oko West Project, which is located in Region Seven, represents a significant milestone in the country’s natural resource development. 
• “With a projected mine life of 13 years, we anticipate the production of over 350,000 ounces of gold annually. The ripple effect of which will be the creation of at least 1,500 jobs, with a strong focus on local employment and capacity-building,” Jeune said.
• The project includes both open pit and underground mining. The company is currently transitioning to mine development, and construction of the mine site is estimated to begin in the second quarter of 2025.
• Jeune said the company is also working closely with Government agencies to ensure the successful implementation of the gold mining project, which is expected to boost the economy. He assured that the Oko West Project will offer employment opportunities to many of the trainees, thereby enhancing the local workforce.

(Source: Loop Caribbean News)