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The Oko West project is located in the Cuyuni mining district, some 95 km west of Georgetown. Credit: Reunion Gold
The interim permit — which is valid for one year — was granted by Guyana’s Environmental Protection Agency following G Mining’s submission of its environmental impact assessment and environmental impact statement last November. CEO Louis-Pierre Gignac said the approval of the interim environmental permit represents “an important step in reaching a construction decision for the Oko West project.” The final permit remains under EPA review.
Last September, the company released a preliminary economic assessment for Oko West, showing an after-tax net present value of $1.4 billion, an internal rate of return of 21% and a 3.8-year payback. Initial capital costs are forecast at $936 million. The figures were estimated using long-term gold prices of $1,950/oz.
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