Gold mining company signs US$83m equipment deal with Komatusu-Genequip
GMIN Ventures Guyana Inc., a subsidiary of G Mining Ventures Corp., on Monday signed a landmark US$83m agreement with Komatsu–Genequip for the supply of mobile equipment for its flagship Oko West Gold Project, located in Region Seven, Guyana.
The signing took place in the boardroom of GMIN’s corporate headquarters at the Pegasus Corporate Suites and Business Centre, Kingston, Georgetown, a release yesterday from the gold mining company said.
The agreement was executed by Louis-Pierre Gignac, Founder and Chief Executive Officer of G Mining Ventures Corp., and Schelte van Dijk, Managing Director of Genequip. Also present were Renger van Dijk, Chairman of Genequip, and Omar Abril, Senior Project Manager of Komatsu. Representing GMIN were Country Manager Bjorn Jeune, Adminis-trative Services Manager Ravi Samaroo, and Communications Specialist Stacy Carmichael, the release said.
As part of the agreement, GMIN, which has Canadian principals, will acquire a fleet of over 60 Komatsu mobile equipment units, valued at over US$83 million. Deliveries are scheduled to commence this month and will continue through to the start of production in 2028.
In addition to supplying state-of-the-art equipment, Genequip, Komatsu’s exclusive representative in Guyana since 1993, will provide maintenance and parts support to ensure long-term operational excellence at the Oko West site.
“This agreement reflects our commitment to equipping our team with the highest quality machinery, ensuring both operational excellence and safety,” said Gignac, CEO of G Mining Ventures. “We are proud to partner with Komatsu and Genequip, two globally respected companies, as we continue to invest in Guyana’s future”, he added
“As we build the Oko West Gold Project, our focus remains on safety, sustainability, and local capacity building,” Gignac added. “This investment strengthens our ability to deliver a project that benefits not only our shareholders, but also the people and communities of Region Seven.”
A symbolic painting was presented to Gignac by the Genequip team in recognition of the partnership and shared vision for sustainable development in Guyana.
This agreement represents another key milestone in the advancement of the Oko West Gold Project and aligns with GMIN’s broader vision of delivering lasting value for its stakeholders and host communities, the release said.
GMIN on November 6th last year announced it will pay an average 6.5% in royalty from the 350,000 ounces it projects to produce annually from around 2028.
With a development capital expenditure pegged at US$936 million over its projected 13-year span for the US$1.5 billion project, the company also said that it will create 1,500 jobs while building capacity and training in the region in collaboration with the Board of Industrial Training.
“We anticipate the production of over 350,000 ounces a year, the ripple effect which will be the creation of 1,500 jobs, which will focus on local employment and capacity building. Transparency is a core value for us and it drives everything we do,” Country Manager Guyana, Bjorn Jeune, told an information forum hosted by the company at the Pegasus Corporate Suites.
