G Mining Ventures Corp (TSX:GMIN, OTCQX:GMINF) reported that it has received the Environmental Permit from Guyana's Environmental Protection Agency (EPA) for the Oko West Gold Project.
The mining company, which owns projects in Brazil and Guyana, said the five-year permit, valid through July 2030, authorizes the construction and operation of Oko West, which is expected to create an average of 1,270 direct permanent jobs during its lifetime.
"The receipt of the Environmental Permit is a pivotal milestone that de-risks Oko West and clears the path toward a construction decision later this year," G Mining Ventures CEO Louis-Pierre Gignac said in a statement.
"With this approval, a favorable gold price outlook, and cash flow from TZ, GMIN is well-positioned to advance the project in alignment with the highest environmental and social standards, creating lasting value for all stakeholders."
The company noted that it began early works at Oko West in March 2025, which included the development of a wharf on the Cuyuni River, access roads, and construction of the permanent camp.
It added that about $190 million has already been committed or negotiated for long-lead items, such as mobile and marine equipment, grinding mills, the primary crusher, and a power plant.
G Mining Ventures said initial equipment deliveries are expected in the second half of 2025, enabling it to begin self-performing earthworks on site.
A formal construction decision is also expected in the second half of 2025, at which time more details regarding project financing will be communicated, according to the company.