In 2018, Burkina’s gold output will rise by more than 200,000 ounces due to Boungou mine
Thursday, 09 November 2017 17:31
Last Tuesday, the mining firm SEMAFO has announced that the construction of its Boungou gold mine in Burkina Faso was 63% complete and that it should start production in Q1 2018.
Once online, the mine should produce an average of 226,000 ounces of gold per year over its first three years of activity. This would de-facto boost the country’s total output.
In a statement released Wednesday, SEMAFO indicated that it has already spent on the project $113 million out of a budgeted $231 million. It added that things are going faster than it anticipated and that a lot of installation works are almost completed. Also, Boungou’s residents were successfully relocated to a newly built village and the firm has signed a 3-year collective agreement with its employees.
SEMAFO which also operates in Burkina Faso the Mana mine, plans to produce during this year, between 190,000 and 205,000 ounces of gold.
Louis-Nino Kansoun
Live News
-
Jet Fuel Spike Highlights Structural Weaknesses in Nigeria’s Air Transport Sector
21:27
-
Zambia Expands Solar Capacity With 50 MW Plant in Luapula Province
21:22
-
Senegal Regains Control of Key Gas Block After Kosmos Exit
21:18
-
PHC Plans Palm Oil Refinery to Capture More Value in Congo Market
21:02
-
Cameroon Opens Public Review of Environmental Impact for Edéa Quarry Project
20:13
-
CEMAC Looks to Its Own Markets to Fund Infrastructure and Reduce Reliance on Foreign Capital
19:23
-
RAINE project enters operational phase with “Mawuse” tunneling machine
19:19
-
National AI Program Positions Algeria for Digital Growth
16:43
-
Cameroon Lines Up CFA18.4 bln Investment Pipeline at Latin America Forum
16:38
-
Togo inaugurates second farm mechanization center, plans wider rollout
16:30
Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...
Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...
Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...
From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...
As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...
PHC targets in-house refining to move up the value chain Project depends on output growth that has slowed in recent years Expansion comes as Congo...
Visa promotes risk-based compliance to strengthen oversight and trust Initiative targets AML gaps as DRC remains on FATF gray list Banks face...
Debt servicing absorbs about 40% of total spending Budget prioritizes infrastructure, security, and human capital Financing relies largely on domestic...
New unit of up to 20,000 agents to protect mining sites and supply chains $100 million initiative backed by the United States and UAE Move targets...
The history of Kerma stretches back several millennia. Located in what is now northern Sudan, the site was inhabited as early as prehistoric times....
CANAL+'s film arm backs a ZAR 300-million feature rooted in South Africa's anti-apartheid music movement. Production kicks off June 29 in Cape Town,...