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Nov 03, 2026 News
(Kaieteur News) – Canadian Company, Aris Mining, may have hit the jackpot in Guyana with a gold and copper find at the Toroparu Gold Project worth over US$21 billion and out of that amount will only have to pay the country an estimated US$1.6 billion in royalties.
The project is one of the largest undeveloped gold deposits in the Upper Puruni, Region Seven, and contains silver and copper as well. It covers a total of 105, 684 acres of the country’s gold rich lands and based on its estimated gold, silver and copper, resources the mine’s value at current market prices for each metal is over US$21 billion.
However, based on the mineral contract signed in 2011 with Aris Mining’s 100 percent owned subsidiary ETK, Guyana stands to pocket only 1/7 of that amount – around US$3 billion in royalties and taxes.
查看配图：Guyana to get US$3B from US$21B gold and copper mines
An overshot of ongoing developments at the Toroparu Gold Projects.
Kaieteur News had reported in November 2025 that Guyana is set to reap some US$3.4 billion in royalty and taxes from the project. Back then, the Canadian firm stated in its Preliminary Economic Assessment (PEA) that the mine will generate close to US$15 billion in gold sales at a base gold price of US$3000 per ounce (the average price of gold in 2025).
Gold price has risen to an average of $4,000 per ounce in 2026 so far and prices could increase by 2027. The Kaieteur News article did not factor in the sale of the estimated copper and silver resources, however, the company in its PEA had also estimated their sale at lower prices too, US$4 per pound of copper and US$40 per ounce per silver.
Prices for those metals too have gone-up with copper reaching as high as US$6.5 per pound and silver lingering around $50 per ounce of silver pushing the mine value to over 21 billion and with prices for these metals expected to climb even higher Toroparu’s value will increase as well.
Guyana will pocket more revenue with the increase in prices but its take will always remain 1/7 or 14 percent (royalties and taxes) of the mine’s value because of the mineral agreement.
As it stands, Guyana’s estimated revenue from the project could reach US$4 billion (royalties and taxes) but the Canadian Company stands to reap heavy even after all of its expenses are taken out.
According to the company’s technical report to its investors, shareholders, royalties is listed as one of it expenses and in 2025, it stood around US$1.1 billion for Guyana for gold alone. At current prices for gold that royalties’ expense will only increase by US$500 million taking it to US$1.6 billion. Kaieteur News reported on October 28 that the copper find is worth US$1.5 billion and out of that amount Guyana’s take in royalties will be a meagre US$23 million (1.5% Royalty) taking Guyana’s total take from the lucrative Toroparu Gold Project to US$1.6 billion.
The remaining revenues Guyana is set to receive will come from income taxes and it won’t affect the Canadian company’s huge earnings from the massive gold and copper discovery.
Aris Mining under the mining agreement is mandated to pay Guyana eight percent royalty on its US$20 billion gold find at current market price and 1.5 per cent royalty on all other metals or minerals found on the lucrative Toroparu Gold Project.
This is in addition to its duty-free fuel and imports concessions.
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