(Ecofin Agency) - Galiano Gold's performance at the Asanko gold mine in 2023 reached a total production of 134,077 ounces. Although the company set final production expectations for 2024 between 120,000 and 130,000 ounces, it ultimately fell short of this target.

Galiano Gold did not achieve its 2024 production target in Ghana. Galiano’s Asanko gold mine delivered only 115,115 ounces last year, against 134,077 ounces in 2023. The company initially expected 140,000-160,000 ounces, but this forecast was later scaled down to 120,000-130,000 ounces.

Catch up on our 2024 highlights at https://t.co/31qtCfDmlm. Optimization of the Life of Mine plan remains on track, with the release of those results expected later this month. LOM webcast details are contained within today's press release.#GAU #mining #gold #galianogold #ghana pic.twitter.com/mhcqAWVE0K

— Galiano Gold (@GalianoGold) January 14, 2025

On January 14, Galiano issued a press release that attributed the unexpected gold output drop to limited throughput at the mill and lower ore extraction from the Abore pit, primarily. To address these challenges, Galiano deployed a full fleet of mining equipment at Abore, which boosted extraction rates to an average of 121,000 tonnes per day in H2 2024 year, up from 75,000 tonnes in H1.

While Galiano has yet to release its production forecasts for 2025, it plans to share an updated mining strategy for the Asanko gold mine soon. A previous plan indicated that the mine could produce an average of 254,000 ounces of gold annually from 2025 to 2030 as new deposits are developed.

This article was initially published in French by Emiliano Tossou

Edited in English by Ola Schad Akinocho