Mining

Burkina Faso: Predictive Discovery and Progress Minerals sign JV agreement over gold projects

Monday, 18 September 2017 19:32

Mining firm Predictive Discovery signed with Canadian Progress Minerals a Joint-Venture (JV) agreement over its gold exploration permits in Burkina Faso. In effect, the JV aims at developing a mine on Predictive’s prospects. The JV aims to advance towards a future multi-pit mine development on Predictive’s gold prospects.

Under the agreement, Progress Minerals can acquire a stake of up to 70% in the project against $5 million to finance a program of exploration and evaluation.

Funding will be in three phases. The first involves the provision of $1 million for a 51% stake, the second will involve the disbursement of additional $1.5 million to increase its stake to 60%, and the last to acquire 10% for $2.5 million.

According to Paul Roberts, MD Predictive, drilling should start by October and end in December, this year. The executive of course recalled the JV agreement that already links the two firms on the Bobosso project in Côte d’Ivoire.

Louis-Nino Kansoun

On the same topic
• Séguéla gold mine produced 76,686 ounces in H1 2025, up 13% from the same period in 2024• Fortuna Mining maintains 2025 output guidance of...
• South Africa’s CEF takes over dormant Sapref refinery for 1 rand, with no restart plan or cost assessment.• State may face $1B revival and cleanup...
• Ghana partners with Onesta on $50M Redgold palm oil project covering 10,000 hectares• Project targets jobs, sustainability, and reduced rural...
Africa’s adoption of small modular reactors (SMRs) varies widely, revealing gaps in regulatory and institutional readiness. Ghana and Rwanda lead...
Most Read
01

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
02

• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boo...

Nigeria Secures $100 mln ECOWAS Bank Loan for Lagos-Calabar Coastal Highway
03

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
04

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
05

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.