Mako Mining Secures Ten-Year Deal to Advance Major Guyana Gold Project
Georgetown, Thursday, 10 September 2026.
Mako Mining signed a 10-year agreement with Guyana for its Eagle Mountain project, securing key tax and operational terms as the nation expands beyond its offshore oil boom.
Mako Mining Secures Guyana Agreement
Mako Mining Corp. (NASDAQ: MAKO, TSXV: MKO) has executed a formal mineral agreement with the Government of Guyana for the Eagle Mountain Gold Project, marking a pivotal step toward commercial production. The agreement was signed on September 9, 2026, with the Cooperative Republic of Guyana and the Guyana Geology and Mines Commission (GGMC), securing a stable framework for the company’s 100%-owned subsidiary, Stronghold Guyana Inc [1]. This development establishes a critical fiscal and operational foundation, allowing the company to advance the asset with greater certainty regarding legal terms and government relations [1].
Mako Mining Secures Guyana Agreement
The executed Agreement provides a 10-year stability framework covering mining licences, prospecting licences, and fiscal terms, with options for renewal or modification thereafter. For institutional investors, this structure mitigates long-term jurisdictional risk, a key consideration in emerging markets. Funding obligations for environmental, community, and social programs are set to commence by the earlier of two milestones: 24 months from the mining license grant date or 12 months from the start of production [1].
Environmental and Regulatory Progress
Regulatory advancements have proceeded in parallel with negotiations, with the Environmental and Social Impact Assessment (ESIA) submitted to the Guyana Environmental Protection Agency in March 2026. A public comment period followed, concluding in June 2026, indicating a structured engagement with local stakeholders and regulatory bodies. Mako Mining expects to file the final ESIA, incorporating stakeholder and regulatory feedback, during the fourth quarter of 2026 [1].
Environmental and Regulatory Progress
Following the final ESIA filing, a permitting decision is anticipated from the Guyana Environmental Protection Agency. This timeline aligns with the company’s broader strategy to de-risk the project through compliance and transparent communication. The company acknowledges ongoing requirements to secure necessary permits for projects and manage the development, construction, and start-up of new mines, including contractor performance and receipt of government approvals [1].
Strategic Implications and Outlook
Steve Parsons, President of Mako Mining, stated that the signing represents an important step in advancing and de-risking the Project by providing greater certainty around key legal and fiscal terms. He emphasized that commitments relating to employment, training, environmental stewardship, and community development are closely aligned with Mako’s core values. The company operates mining assets in Nicaragua and South America, managing risks related to exploration, development, and operation of mineral properties [1].
Strategic Implications and Outlook
While the agreement stabilizes the fiscal environment, the company remains exposed to currency exchange rate fluctuations involving the US Dollar, Nicaraguan cordoba, and Guyanese dollar. Financial and operational risks include cost overruns, access to financing, fluctuations in gold prices, and the impact of global macroeconomic factors such as inflation and interest rates. Despite these factors, the agreement underscores Guyana’s emerging position as a resource haven beyond its offshore oil discoveries [1].