Mining company Roxgold reported financial and operational results at its Yaramoko gold project in Burkina Faso. It completed 63% of construction works, and is on track for first gold pour in second quarter of 2016.
To achieve this, the firm spent in 2015 about $57 million out of a total of $110 million. Indeed, to fund the project, Roxgold negotiated a $75 million credit line from BNP Paribas, Société Générale Corporate and Investment Banking. It got $51 million from the credit line in 2015 and $5 million from African Underground Mining Services ("AUMS").
It completed a 55 zone infill drilling program which supported the feasibility resource model and corroborated high grade and continuous nature of the zone. It also discovered a new mineralized domain in Southern Bagassi and extension of the QV1 mineralization.
Moreove, the firm got the mining decree and approved mining convention, for the Yaramoko project, under the Burkina Faso Mining Code.
Roxgold owns 90% of exploration licence, covering 167 km2, at Yaramoko, on the Hounde rock belt.
Louis-Nino Kansoun
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0....
Flutterwave gained a BCEAO license to operate in Senegal, expanding to 35 African countries. ...
In Africa, the private sector is widely seen as the main engine of industrialization and plays a cen...
President Paul Biya, 92, to seek eighth term in October 2025 election In power since 19...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its mai...
Highlights: • New 1% US tax on outbound remittances to take effect January 1, 2026• Africa received $100 billion in remittances in 2023, outpacing...
Highlights: • Kobold Metals signed an agreement in principle with the DRC government on July 17, 2025.• The deal includes the Manono lithium project,...
Highlights: • Global cocoa processing down across all major regions in Q2 2025• ECA: Europe’s grindings at lowest since 2020, Asia at lowest since...
Highlights: • EXIM Bank issues letter of intent for $150M to support Botswana's NexMetals• US eyes battery-grade nickel sulphates and cobalt from...
Ashenda is a vibrant traditional festival celebrated primarily in northern Ethiopia, particularly among the Tigray and Amhara communities, as well as in...
The Emerald Sea is a vast turquoise lagoon located in the northern part of Madagascar, just a few kilometers from the town of Antsiranana (formerly Diego...