Burkina Faso is one of Africa's biggest gold producers, with Australian company West African Resources operating the Sanbrado gold mine there. Last year, the mine yielded 226,823 ounces, earning the firm over $400 million in revenue.
West African Resources recently released its Q1 2024 production update for its Sanbrado gold mine in Burkina Faso. According to the update, released on April 5th, the Australian company sold 49,509 oz at an average price of $2,078 per ounce, resulting in revenues of $102.87 million.
We're pleased to provide a production update from our Sanbrado Operations for the March 2024 quarter, with the project delivering another solid quarter of gold production.
— West African Resources (@WAFresources) April 4, 2024
Read the full release here: https://t.co/fhDrhfeXng$WAF pic.twitter.com/Es2pHvyAKu
Year-on-year, the revenues are up by 13%, a performance attributed to the rise in the global gold prices, paired with the quantities sold (48,208 oz at an average price of $1,878 per oz). Over the period reviewed, Sanbrado’s output was stable, standing at 56,595 oz, compared to 56,307 oz in Q1 2023.
West African Resources hopes to produce between 190,000 to 210,000 oz of gold in 2024, compared to 226,823 oz in 2023. With the recent increase in the price of gold, trading at over $2,300 per ounce in early April, the revenues from the Sanbrado mine in 2024 could surpass the AU$657.6 million (US$433 million) generated last year through the sale of 224,970 ounces.
The Sanbrado mine is 90% owned by West African Resources and 10% owned by the Burkinabe government.
• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...
In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...
• Burkina Faso-based financial group, Vista Group Holding, has acquired a majority stake in Société ...
Transport and food prices have been climbing steadily across Africa in recent years. In Côte d’Ivoir...
• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...
• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might seek to address rating concerns • April 2026 allows...
• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo • License award comes on stream as part of the...
• The International Monetary Fund (IMF) has authorized a $262.3 million disbursement for Ethiopia, taking total payments under Extended Credit...
• ECOWAS Bank funds 47.7-km stretch of strategic 700-km road project• Lagos-Calabar highway seen boosting regional trade and investment• Part of broader...
The Gerewol tradition is a fascinating ritual celebrated by the Bororo Fulani, a nomadic community primarily located in Chad and Niger. This annual...
In northern Ethiopia, in the Tigray region, lies Axum (also spelled Aksum), an ancient city that once stood at the heart of one of Africa’s most powerful...