(Ecofin Agency) - Mining company Toro Gold announced Monday the entry into production of its Mako gold mine, in Senegal. First gold pour (41.2 kg) occurred last Jan. 26, two weeks ahead of schedule.

“We are glad to announce the achievement of this milestone for the company earlier than expected and below budget,” commented Martin Hogan, the CEO. He added that the production of this first gold bullion comes six years after the deposit’s discovery.

The company plans to move operations towards commercial production, by mid-2018. The annual production rate is expected be 135,000 oz.

Mako project has a lifespan estimated at 8 years with about one million ounces of mineral resources at an average grade of 2.25g/t, according to JORC.

Louis-Nino Kansoun