The Minister of Natural Resources, Vikram Bharrat, has entered into a Mineral Agreement with Mako Mining Corp. Canada and its wholly owned subsidiary, Stronghold Guyana Inc., paving the way for further development of the Eagle Mountain Gold Project.
The Government of the Co-operative Republic of Guyana, the Guyana Geology and Mines Commission (GGMC), and representatives of Mako Mining and Stronghold Guyana signed the agreement. The development marks a major step towards bringing the Eagle Mountain gold resource into production.
Mako Mining has operated in Guyana for more than a decade, during which it has established a significant presence in the country’s mining industry. Government officials said the latest agreement reflects Guyana’s efforts to attract and support long-term investment while maintaining the standards required for responsible mineral development.
Under the terms of the agreement, the parties have set out the conditions for the project’s development and operation, including its regulatory, financial and operational framework.
Preparatory work for the project is already underway, with construction targeted to begin in the third quarter of 2027. Based on current projections, the company expects gold production to begin by the end of 2028. However, this timeline depends on securing all required environmental, regulatory, and other statutory approvals.
The project is also expected to generate economic opportunities for Guyanese through direct and indirect employment, technical training and the development of specialised skills. The government is particularly focused on ensuring that qualified Guyanese workers and local businesses have opportunities to participate in the project through contracting, supply and service arrangements.
Beyond its economic contribution, the Mineral Agreement includes provisions to support environmental management, community initiatives, and social development programmes. These measures are intended to ensure that the exploitation of the country’s mineral resources is carried out in a way that delivers lasting benefits while safeguarding communities and the environment.
The Ministry of Natural Resources and the GGMC, along with other relevant government agencies, will continue to engage with Mako Mining as the company progresses with the project. The authorities said the development will remain subject to Guyana’s legal and regulatory requirements, with an emphasis on protecting the country’s environmental, social and economic interests.
The Eagle Mountain project is therefore expected to contribute to Guyana’s expanding mining sector and to create new opportunities for employment, local enterprise and skills development as the country continues to attract investment in its natural-resource industries.