Mining

Cora Gold kicks off exploration program in east Senegal

Cora Gold kicks off exploration program in east Senegal
Tuesday, 09 April 2024 18:25

In 2022, Senegal’s industrial mines produced 15 tons of gold. With this output, it is far from rivaling with Mali or Côte d’Ivoire. However, several investments in exploration could soon push the country among West Africa’s top gold producers.

Cora Gold will soon start a 2,000 m Reverse Circulation (RC) drilling program in Senegal. The British firm announced the news on April 8, 2024, emphasizing that the program should begin in mid-April and end in mid-May of this year. The program is at Cora’s Madina Foulbé gold permit within the Kenieba Project Area in east Senegal. The mine is 27 km west of the Sadiola gold mine in Mali. 

“We are delighted to restart work at Madina Foulbé, where previous exploration works only scratched the surface in terms of evaluating the potential size and scale of the in-situ gold mineralisation,” commented Bert Monro, CEO of Cora. 

The Madina Foulbé permit had indeed undergone exploration work between 2018 and 2020, with gold intercepts at shallow depths and grades ranging from 0.47 g/t of gold to 16.4 g/t of gold. Now, Cora wants to test targets for potential resource definition drilling.

Though not yet among Africa’s top gold producers (with an industrial output of 15 t in 2022), Senegal attracted substantial investments in recent years. In 2023, Fortuna Silver Mines, a Canadian firm, acquired $60 million Chesser Resources and its Senegalese gold project, Diamba Sud. Endeavour Mining also kicked off a $300 million investment at the country’s largest mine in 2022. The project could increase the country’s output starting this quarter.

Several junior mining companies are also active in gold exploration in Senegal, and the success of their various projects could significantly increase the country's gold production and mining contribution to the economy. 

Gold mining dominates Senegal’s extractive sector. According to the  Extractive Industries Transparency Initiative (EITI), the sub-sector accounted for 4.5% of GDP, 6.85% of state revenues, and 32.16% of exports in 2022.

Emiliano Tossou

On the same topic
• DY6 Metals announced a binding agreement to acquire seven rutile exploration permits, including the Yaoundé Ouest project, in Cameroon.• The...
Uganda expects 8% yearly GDP growth, driven by oil, transport, and power projects Crude output set to begin mid-2026, with production projected to...
• Libya, Nigeria revive talks on gas pipeline to Europe via Libya• Proposed 3,300 km route would link to existing Greenstream pipeline• Project aims to...
• Terra Metals has invested in the Nalolo Solar project in Zambia with local and regional partners.• The plant is planned at about 300 megawatts, with...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

Nigeria’s fintech landscape has undergone a seismic shift in recent years, driven largely by persist...

In Nigerian, Bank Technology Failures Pushed OPay and PalmPay to Leadership in Daily Payments
03

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
04

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
05

• Benin’s FeexPay and Côte d’Ivoire’s Cinetpay receive BCEAO payment service licenses• Both firms ex...

WAEMU fintech industry strengthens with two new BCEAO regulatory approvals
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.