Mining

Senegal: New estimates put Mako gold mine’s resources at 26.53 tons, 37% more than in 2023

Senegal: New estimates put Mako gold mine’s resources at 26.53 tons, 37% more than in 2023
Friday, 08 March 2024 20:10

Senegal’s second-largest gold mine, the Mako mine, produced around 120,000 ounces of gold in 2023. This year, Resolute Mining, which owns the project, expects it to produce 140,000-150,000 ounces.

The Mako mine hosts 936,000 ounces (26.53 tonnes) of gold mineral resources as of December 31, 2023. That is 37% more than estimated as of December 31, 2022. Australian firm Resolute Mine, which owns the mine, disclosed the new estimate in a report dated 8 March 2024. 

This increase is primarily attributed to the initial mineral resource estimate for the Tomboronkoto satellite deposit. Located 20 km from the mine's processing plant, Tomboronkoto hosts 403,000 ounces of inferred mineral resources. In 2024, Resolute plans to conduct additional work to increase the deposit's resources and convert at least a portion into indicated resources, a more reliable category for future exploitation.

Mako is the second-largest gold mine in Senegal, behind Endeavour Mining's Sabodala-Massawa gold complex. It delivered 119,847 ounces in 2023–an output that Resolute hopes will rise to 140,000–150,000 ounces in 2024.

Emiliano Tossou

On the same topic
Priority units due July 2027, initial output gasoline and naphtha Sonangol invests $1.4 billion as project seeks $4.8 billion...
EITI says artisanal mining remains absent from Liberia’s official mining statistics Industrial mining generated $121.49 million in revenue in...
Gas-fired plants and renewables anchor Mauritania’s electricity expansion plan New thermal, solar, and wind projects target rising urban power...
Plan targets safety, infrastructure, and skills development through 2045 Sector remains weakened by post-war underinvestment and low oversight...
Most Read
01

Nigerian fintech Paystack launches Paystack Microfinance Bank Bank created after acquiring ...

Stripe-Owned Paystack Enters Nigerian Microfinance Banking Via Acquisition
02

Togolese banks provided 16.2% of WAEMU cross-border credit by September 2025 Regional cross...

Togo accounts for 16.2% of cross-border bank financing in WAEMU
03

Nigeria granted Amazon Kuiper a seven-year license starting February 2026 The move opens comp...

Amazon wins approval to enter Nigeria’s satellite internet market
04

Tether partnered with the United Nations Office on Drugs and Crime to strengthen digital asset cyb...

Tether and UNODC Launch Digital Asset Cybersecurity Initiative in Africa
05

Africa’s energy & mining exports benefit from US tariff exemptions, cushioning trade as most other...

Africa’s Energy Boom in 2026 Puts AfCFTA at the Heart of Its Trade Response to US Tariffs
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


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.