Government has signed a Mineral Agreement paving the way for construction of the Eagle Mountain Gold Project, with production targeted for late 2028, a release from the Natural Resources Ministry said.

The agreement, signed between Government, the Guyana Geology and Mines Commission (GGMC), Mako Mining Corp and its wholly owned subsidiary Stronghold Guyana Inc, establishes a framework governing the legal, fiscal and operating conditions for the project, the release said.

The release described the signing as an important milestone in advancing development of the Eagle Mountain gold resource, and reflective of Government's continued commitment to facilitating responsible investment in Guyana's mining sector.

Mako Mining has maintained a presence in Guyana for over 10 years, developing a longstanding relationship with the country and its mining sector through its activities, according to the release.

The Company has already commenced preparatory activities and is expected to begin 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 release said.

Government welcomed the investment and the opportunities the project can bring to Guyana, particularly in employment, training and skills development, as well as increased participation of qualified Guyanese workers, contractors, suppliers and service providers, the release said.

The agreement also provides for commitments relating to environmental stewardship, community development and social programmes, consistent with Government's objective of ensuring mineral development contributes meaningfully to Guyana's sustainable economic development.

The Natural Resources Ministry, 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, the release said.