Mako Mining Finalizes Mineral Agreement for Eagle Mountain Gold Project in Guyana

en.Wedoany.com Reported - Mako Mining has formally finalized a mineral agreement with the Cooperative Republic of Guyana and the Guyana Geology and Mines Commission for the Eagle Mountain Gold Project, establishing a long-term stable legal, fiscal, and operational framework for the project.

The Eagle Mountain Project is located in west-central Guyana, approximately 200 kilometers southwest of the capital Georgetown and 8 kilometers from Mahdia. It is an advanced-stage open-pit mining development project covering approximately 5,050 hectares (ha). Mako Mining holds a 100% interest in the project through its subsidiary Stronghold Guyana.

The mineral agreement is established under Guyana's Mining Act and provides ten years of legal stability for mining and exploration licenses and related authorizations and fiscal terms. The agreement also sets out environmental requirements and allows for renewal or renegotiation of terms after the initial term expires.

The provisions in the agreement regarding royalties, taxes, government commitments, and preferential use of Guyanese labor, goods, and services are consistent with existing terms in other mineral agreements in Guyana.

Under the agreement, Mako Mining will also provide annual funding for community development, environmental projects, and social initiatives, with disbursements to commence within 24 months of the granting of the mining license or within one year of the commencement of production.

The company is currently advancing the required permitting and regulatory processes. Mako Mining submitted an Environmental and Social Impact Assessment to the Guyana Environmental Protection Agency in March 2026, with the public consultation period ending in June 2026. The company expects to submit the final version of the assessment incorporating stakeholder feedback in the fourth quarter of 2026, after which the permitting decision process will begin.

Steve Parsons, President of Mako Mining, stated that the signing of the mineral agreement is an important milestone for the Eagle Mountain Project and a significant step in advancing and de-risking the project, as the agreement provides greater certainty regarding key legal and fiscal terms. He also noted that the commitments regarding employment, training, environmental management, and community development are highly consistent with Mako Mining's core values and the practices the team has successfully adopted across its portfolio of mines and projects.