HGP Nightly News – Guyana’s gold industry is being positioned for a major lift, with government pointing to a lineup of large-scale projects, rising employment, and new enforcement measures meant to tighten oversight across the sector. Presenting the 2026 National Budget in the National Assembly, Senior Minister in the Office of the President for Finance, Dr. Ashni Singh, said the gold sector is attracting substantial foreign investment, bringing modern technology, export earnings, and jobs for Guyanese.
On the large-scale side, Singh reported that Aurora the country’s only current large-scale operator surpassed its 2025 production target and is expected to increase output this year as underground development advances. He highlighted several major projects moving through key stages. The Oko West Project reached a major milestone in December 2025 when it received its mining licence, described as the final regulatory requirement for development.
The project, which received formal construction approval in October 2025, is projected to produce 4.3 million ounces over 12.3 years, averaging 350,000 ounces annually, with first production expected in 2027.Singh also pointed to the Oko Project, located north of Oko West. Its Preliminary Economic Assessment (PEA) released in December 2025 outlines a combined open-pit and underground operation with an estimated 14-year mine life and total output of 3.2 million ounces.
Annual production is projected at 298,000 ounces, with operations expected to begin in 2029.Another large-scale development, Toroparu, is also progressing. A PEA completed in October 2025 forecasts a 21.3-year open-pit operation producing 235,000 ounces per year. At Omai, exploration and drilling continue, with an updated PEA expected by the second quarter of this year.
Alongside expansion, Singh said the government is stepping up governance and compliance for small and medium-scale miners, including mandatory local bank account requirements and compulsory updates of personal records for miners and stakeholders. He said audits and enforcement are being strengthened to address illegal practices affecting gold declarations, supported by new systems such as the high-tech mineral mapping project launched in late 2025.
To expand legitimate trade access, Singh said the Guyana Gold Board extended its reach in 2025 by establishing permanent purchasing facilities in Lethem/Marudi and Mahdia. He added that three mobile purchasing sites are scheduled to begin operating before mid-2026 in Puruni, Karuni, and Olive Creek, alongside improved monitoring to ensure traders comply with licensing and location-based rules.
Singh argued that the sector remains a major pillar of employment and income, reporting that gold mining provided more than 20,000 direct jobs in 2025, up from 13,681 in 2020. “Every new operation, every new license, every new piece of equipment, every new prospect brought into operation translates into more Guyanese working and earning,” he said.
