Mako Mining, the Cooperative Republic of Guyana and the Guyana Geology and Mines Commission have finalised a mineral agreement for the Eagle Mountain Gold Project.
The arrangement establishes a long-term stability framework covering legal, fiscal and operational terms for the project, which is situated in west-central Guyana, around 200km south-west of Georgetown and 8km from Mahdia.
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The Eagle Mountain project is an advanced-stage open-pit development across approximately 5,050 hectares (ha).
Mako holds a 100% interest in the project through its subsidiary, Stronghold Guyana.
Under the mineral agreement, which has been structured according to Guyana’s Mining Act, provisions are made for legal stability covering mining and prospecting licences as well as authorisations and fiscal terms over a ten-year period.
The agreement also outlines environmental requirements and allows for renewal or renegotiation of terms after the initial period.
Stipulations relating to royalties, taxes, government undertakings, and prioritisation of Guyanese labour, goods and services have been aligned with existing terms in other mineral agreements in the country.
Mako will also contribute annually to community development, environmental programmes and social initiatives, with funding commencing within 24 months of the mine licence grant or within one year from the start of production.
The company is currently working to advance the required permitting and regulatory processes.
Mako submitted an Environmental and Social Impact Assessment to the Guyana Environmental Protection Agency in March 2026.
The public comment period ended in June 2026.
The company expects to file the final version of the assessment, incorporating stakeholder feedback, in the fourth quarter of 2026, with a permitting decision to follow.
Mako president Steve Parsons said: “The signing of the mineral agreement marks a significant milestone for Eagle Mountain and represents an important step in advancing and de-risking the project by providing greater certainty around key legal and fiscal terms.
“Equally important, the commitments relating to employment, training, environmental stewardship and community development are closely aligned with Mako’s core values and the approach our teams employ with success across our portfolio of mines and projects.”
