The Government of Guyana through the Ministry of Natural Resources is pleased to announce the signing of a Mineral Agreement between the Government of the Cooperative Republic of Guyana, the Guyana Geology and Mines Commission (GGMC), Mako Mining Corp. and its wholly owned subsidiary, Stronghold Guyana Inc. (collectively, the Company), in respect of the Eagle Mountain Gold Project.
The company has maintained a presence in Guyana for over 10 years and has, through its activities, developed a longstanding relationship with the country and its mining sector. The signing of the Mineral Agreement represents an important milestone in advancing the development of the Eagle Mountain gold resource and reflects the government’s continued commitment to facilitating responsible investment in Guyana’s mining sector.
The agreement establishes a framework governing the legal, fiscal and operating conditions for the project. The company has already commenced preparatory activities and is expected to commence construction by the third quarter of 2027, with gold production currently estimated to commence by the end of 2028, subject to the completion of the requisite regulatory and environmental approvals.
The government welcomes the investment and the opportunities that the project can bring to Guyana, particularly in the areas of employment, training and skills development, as well as the increased participation of qualified Guyanese workers, contractors, suppliers and service providers.
The agreement also provides for commitments relating to environmental stewardship, community development and social programmes, consistent with the government’s objective of ensuring that mineral development contributes meaningfully to Guyana’s sustainable economic development.
The Ministry of Natural Resources, together with the GGMC and other relevant agencies, will continue to work with Mako Mining to facilitate the responsible advancement of the Eagle Mountain Project while ensuring compliance with Guyana’s laws and the protection of the country’s environmental, social and economic interests.