Located on the Northeastern coast of South America, the English-speaking country of Guyana is home to a population of nearly 800,000 people. Known for its vibrant culture, hard-working people and resource-rich landscape, Guyana is quickly becoming a hub for international investment.
Investing in the Future
Guyana has a long history of resource investment, but recently there has been a resurgence of interest in the country from large international firms. Currently, there are over 25 mining companies active in Guyana as well as large-scale oil producers like Exxon Mobil, who are investing heavily in Guyana’s infrastructure and workforce. This economic renaissance has led the IMF to rate Guyana as the fastest growing economy in the world, and its GDP of US$3.5 billion is expected to triple within the next five years.
Mining in Guyana
Guyana is situated in the heart of the Guiana Shield — a 1.7 billion-year-old geological formation that shares much of its geological makeup with the West African Shield. The Guiana Shield has been a target for gold prospectors for decades and holds an estimated 140 million ounces of gold. The mining sector has been a major piece of Guyana’s history, and its democratically elected government has long held a pro-mining stance, encouraging investment in the responsible extraction of natural resources through a stable Mining Act. Omai is once again a major part of this investment with plans to re-establish the Omai gold mine.