G Mining moves to acquire G2 goldfields, creating major gold hub at Oko with over 500,000 ounces yearly output

Canadian mining company G Mining Ventures Corp. is moving to significantly expand its footprint in Guyana’s gold sector, announcing a major deal to acquire G2 Goldfields Inc. and combine their neighbouring projects into what is being described as a large-scale, low-cost mining hub.The agreement will see the consolidation of the Oko West and Oko-Ghanie projects into a single operation, creating what the company calls a “Tier-One” gold project in Guyana, an emerging hotspot for gold development.In a statement on Thursday, G Mining said the merger will bring together two major operations with combined life-of-mine production expected to exceed 500,000 ounces of gold annually. The Oko West project alone is projected to produce about 350,000 ounces, while Oko-Ghanie is expected to add another 228,000 ounces.The company said the move is aimed at unlocking large-scale efficiencies by integrating infrastructure and operations.“This Transaction delivers on GMIN’s stated vision to build and operate a large, long-life, Tier-1 mine in Guyana,” the company stated, noting that the combined operation is expected to generate “industry leading returns.”One of the key advantages highlighted is the potential to fast-track development at Oko-Ghanie by tying it to the already permitted Oko West project. This, the company explained, will simplify approvals and accelerate timelines, while maintaining its target of first gold production at Oko West by the second half of 2027.G Mining also pointed to more than C$1 billion in expected synergies, driven by shared infrastructure, reduced capital and operating costs, and improved mine planning.The deal will be executed through a court-approved arrangement, with G Mining acquiring all issued shares in G2. Shareholders of G2 will receive 0.212 G Mining shares for each share held, along with stakes in a new exploration company that will hold some of G2’s remaining assets.The transaction values G2 at approximately C$3 billion and represents a significant premium for its shareholders.G Mining said the combined company will benefit from stronger financial backing, including cash reserves, access to credit, and revenue flows from its operations in Brazil, positioning it to advance large-scale mining projects in Guyana.With the merger, the company is effectively betting on the long-term potential of Guyana’s gold district, aiming to build one of the largest and lowest-cost gold operations in the Americas.