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Oct 28, 2026 News
(Kaieteur News) – Canadian mining firm, Aris Mining stands to benefit heavily from a US$1.5 billion copper find at the gold-rich Toroparu Gold Project in Guyana via the agreement it signed with the country in 2011.
The Toroparu Gold Project is one of the largest undeveloped gold deposits in the Upper Puruni, Region Seven, Guyana covering a total of 105,684 acres of the country’s gold rich lands. Not only is it rich in gold with a discovery worth US$21.6 billion at current gold prices but it also contains silver and copper.
According to the company’s Preliminary Economic Assessment (PEA), its Toroparu concession contains some 260 millon pounds of copper, a fundamental metal in the entire world, especially in the electrical and engineering industry. Copper can be found in electric cables, all of our household appliances, motors, etc.
At the current market price for copper (around US$6 per pound), the find is worth some US$1.5 billion but out of this amount, Guyana’s take could only be US$23.4 million since the country agreed to a 1.5 percent royalty on all other metals found on its gold rich lands. That value could increase, however, since the demand for copper has significantly risen in recent times due to rise of EVs (electric vehicles) and major advancement in the global robotics industry.
查看配图：Out of US$1.5B copper find at Toroparu, Guyana to get meagre US$23M
An overshot of ongoing developments at the Toroparu Gold Projects.
METALBOOK, a company known as the leading provider of metal supply chain digital solution anticipates a growth in demand for copper in the near future. In an article on its website, the company expects that current demand for copper will double by 2035 reaching 50 million metric tons.
METALBOOK explained that the mega growth in demand is due to “the electric vehicle boom, artificial intelligence, automation and renewable energy advancements. While the Canadian mining company is poised to cash in big from Guyana’s copper in a rapidly growing copper industry. The country’s take will remain meagre.
On the other hand, the company under the agreement is mandated to pay Guyana 8 percent royalty on its US$21 billion gold find at current market price. Its take will still be significantly larger in addition to its duty-free fuel and import concessions.
The company’s PEA results confirm plans for a large-scale, long-life open-pit operation expected to produce an average of 235,000 ounces of gold per year over more than two decades. The project’s life-of-mine production is estimated at 5.0 million ounces of gold, 4.9 million ounces of silver, and 260 million pounds of copper. For its expenditure (investment), the company in its PEA reported that the large-scale open-pit mine will require an initial construction capital of US$820 million, which includes pre-production costs and a US$96 million contingency. Aris Mining said this figure represents a US$38 million reduction compared to a previous fleet-purchase plan. The cut results from the company’s Original Equipment Manufacturer (OEM) leasing strategy, which lowers the upfront cost of the mining fleet from US$73 million to approximately US$35 million during construction. The company explained that this leasing approach will ensure access to modern, well-supported mining equipment under comprehensive maintenance and parts-supply programmes throughout the 20-plus-year mine life.
The report also stated that the mine life of 21.3 years comes with opportunities for further expansion through continued exploration. According to information from the company’s website, the project site was first mined by Alfro Alphonso in 1997 and explored by ETK, its 100 percent owned subsidiary from 1999 under a joint venture with Alphonso. ETK acquired full ownership in 2020, paying US$20 million to exercise its option, while Alphonso retained certain alluvial rights and access privileges, ETK also secured an investment agreement with GO-Invest granting tax exemptions on project-related imports.
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