08:56 AM EDT, 09/02/2025 (MT Newswires) -- G Mining Ventures ( GMINF ) on Tuesday said it has received a permit from Guyana's Environmental Protection Agency for the Oko West Gold Project.

The permit, valid through July 2030, authorizes the construction and operation of Oko West, which is expected to create an average of 1,270 direct permanent jobs during its lifetime, a statement said.

GMIN began early works at Oko West last March. About $190 million has already been committed or negotiated for long-lead items such as mobile and marine equipment, grinding mills, the primary crusher, and a power plant. Initial equipment deliveries are expected in the second half of 2025, enabling the corporation to begin self-performing earthworks on site. The corporation said anticipates making a formal construction decision in the second half of 2025, at which time more details regarding project financing will be communicated. In the interim, detailed engineering and exploration activities continue at Oko West, it added.

"The receipt of the Environmental Permit is a pivotal milestone that de-risks Oko West and clears the path toward a construction decision later this year," said Chief Executive Louis-Pierre Gignac. "With this approval, a favorable gold price outlook, and cash flow from TZ, GMIN is well-positioned to advance the Project in alignment with the highest environmental and social standards, creating lasting value for all stakeholders.

G Mining ( GMINF ) shares closed up $0.44, to $20.59, on the Toronto Stock Exchange on Friday.