(Ecofin Agency) - Fortuna Silver Mines aims to produce between 343,000 and 385,000 ounces of gold this year. More than half of this output should come from its operations in West Africa: Séguéla mines in Côte d'Ivoire and the Yaramoko mines in Burkina Faso.

On April 8th, Fortuna Silver Mines reported gold production of 89,678 ounces in the first quarter of 2024, marking a 49% year-on-year increase. The Séguéla (Côte d'Ivoire) and Yaramoko (Burkina Faso) gold mines contributed 61,733 ounces (1,750 kg) of gold.

The increase positions the Canadian firm on track to meet its annual forecasts of 343,000 to 385,000 ounces in 2024. It anticipates producing between 126,000 and 138,000 ounces at the Séguéla gold mine, and between 105,000 and 119,000 ounces at the Yaramoko gold mine. The remaining production will come from the company's mines in Latin America.

Fortuna owns 90% of the Séguéla gold mine, and the Ivorian government holds the remaining 10%. The mine produced its first gold in May 2023 and should deliver about 133,000 ounces over its first six years of activity. Similarly, the Yaramoko gold mine is 90% owned by Fortuna, with the Burkina Faso government holding the remaining 10%. The mine produced 117,711 ounces in 2023.

Emiliano Tossou