A US$1.5 billion gold project – Oko West – in Region Seven (Cuyuni-Mazaruni) will come on stream by 2027 but already its potential at re-energizing Guyana’s mining sector from the challenges faced in recent years is being hailed.
Situated 95 km Southwest of Georgetown, the mine measures approximately 44 square kilometers and is 100 percent held by G Mining Ventures Corp.
Delivering remarks at an education forum held at the Pegasus Corporate Suites in Georgetown on Wednesday, Minister of Home Affairs, Robeson Benn said the development of Oko West represents a continuation of work that started in the sector many years ago.
Noting that the country is at its “most momentous” phase of development with opportunities and synergies are “spinning out” of the oil and gas sector, Benn said the project will widen job opportunities.
“This new development at Oko West, this will broaden the opportunities for people.
“We have kept our promise in relation to re-energizing and developing the natural resource sector in relation to mining. There was a time when it was being shut down.
“There was a time when the bauxite operations were practically dead…Even the small mining…were shut down. We have come back and we are keep our promises to the people of Guyana,” he explained.
According to Benn, Guyana needs four more such projects over the next fifteen years.
“This time will not come again easily,” Benn said.
It will require some 1,700 persons to build out the Oko West project over a period of two and a half years.
While, the anticipated production is projected to be over 350,000 ounces a year.
Country Manager of G Mining Ventures, Bjorn Jueue said the Oko West Project represents a significant milestone in Guyana’s natural resource development.
According to Juene, the establishment of the operation will lead to the creation of at least 1,500 jobs, with strong focus on local employment and capacity building.
“Transparency is a core value for us and it drives everything that we do as we embark on this transformative project,” Juene said.
As part of Oko West’s corporate social responsibility project, Juene said several strategic commitments were made to support Guyanese development.
This, he said, includes the signing of a Memorandum of Understanding with the Board of Industrial Training (BIT) to facilitate training of local workers at the BIT center in Bartica.
“The Oko West project will offer employment to many of these trainees thereby enhancing the local workforce,” Juene noted.
Additionally, through a scholarship agreement with the University of Guyana, several Geology students have benefited from educational support and will continue to do so.
“I truly believe that this project will transform not only the local economy but the country bringing sustainable development, meaningful employment and long-lasting benefit to Guyana,” Juene said.