The conceptual design phase for the Giant Magellan Telescope (GMT) has been completed and the project is continuing the development of the telescope structure and instrumentation. The upper truss of the telescope has been revised to reduce the tilt of the secondary mirror assembly, which was the major contributor to image blur caused by windshake of the structure. A factor of 5-10 reduction is obtained in the static analysis. The generation of the first 8.4 m off-axis mirror blank for GMT is nearing completion. The metrology for grinding and polishing the mirror to its final figure has been designed and is being constructed. Multiple, independent tests are provided to verify the final mirror figure and insure mirror-to-mirror repeatability. Loose abrasive grinding and polishing of the mirror is ready to start with mirror completion expected in early 2009. GMT instruments mount in the telescope below the primary mirror. The candidate list of first generation instruments is provided. Las Campanas Observatory has been selected as the site for GMT.© (2008) COPYRIGHT SPIE--The International Society for Optical Engineering. Downloading of the abstract is permitted for personal use only.