(Kaieteur News) – Canadian firms G Mining Ventures (GMIN) and G2 Goldfields Inc. are working through the final stages to complete the US$2.2 billion acquisition that will see the firm’s gold properties in Guyana combined into a 7-million-ounce tier-1 mining hub.

In an update on Monday, GMIN’s president and chief executive officer (CEO) Louis-Pierre Gignac said, “We remain fully committed to closing the acquisition and creating a tier-one gold mining hub in Guyana and one of the largest, lowest-cost gold operations in the Americas.”

GMIN noted that the transformational transaction marks a significant milestone in its growth strategy. “By combining complementary assets and leveraging our proven mine development expertise, G Mining Ventures is reinforcing its position as an emerging mid-tier gold producer, with a portfolio anchored in Brazil and Guyana,” the company said.