Mining

Senegal: Canada's Dynacor to invest in artisanal gold mining

Senegal: Canada's Dynacor to invest in artisanal gold mining
Tuesday, 15 October 2024 18:23

Canadian firm Dynacor plans to invest in artisanal gold mining in Senegal. The sector employs tens of thousands of people and produces 7 tonnes of gold annually.

Dynacor announced on October 11 that it will build a pilot plant to process gold ore sourced from artisanal miners. This facility will help Dynacor evaluate the potential for larger operations in the country.

The plant will be located in the Kédougou region, which hosts most of Senegal's artisanal and small-scale mining sites. It is expected to begin operations in the first half of 2025 and will have a processing capacity of 50 tonnes per day. The site is on a 50-hectare mining concession acquired from a local company and has received government approval for gold mining.

Dynacor aims to play a significant role in formalizing the artisanal mining sector in Senegal. Artisanal mining contributes over a third of Senegal's gold production, but it often invoves harmful extraction methods. Last August, the government suspended mining along the Falémé River until June 2027 to protect the environment.

Dynacor has attracted interest from local companies wanting to supply ore to its processing plant. If the pilot project succeeds, it could lead to larger gold production facilities in Senegal. The company is also conducting environmental impact studies, which are expected to be completed by December.

Foreign companies are already active in Senegal's industrial mining sector, including Australia’s Resolute at the Mako gold mine and Endeavour Mining at the Sabodala-Massawa complex.

Emiliano Tossou

On the same topic
• Didievi gold resources rise to 989,000 oz, up 119%.• Based on Blaffo Guetto deposit, below 1M oz target.• New drilling set for July to expand...
• TDB, TDF, and World Bank launch ASCENT to provide energy to 3 million people• Burn and Ignite Power sign first deals to deploy clean cooking and solar...
Namibia signed an MoU with U.S. firm NANO Nuclear to boost uranium processing. The deal adds the U.S. to Namibia’s talks with China and Russia on...
Hasetins plans to build a 12,000-ton rare earths plant in Nigeria’s Nasarawa State The $400 million investment raises questions over project...
Most Read
01

• Maritime sector faces renewed risks amid military tensions in the Middle East• Blockade fears at S...

Israel-Iran conflict raises new threats for global shipping and oil trade
02

Lion Group to explore and exploit gold, copper, and manganese in Algeria Malaysian firm plans...

Algeria, Lion Group sign mining and metals investment deal
03

Kenya tops African entries in 2025 IMD ranking at 56th globally. Botswana, Ghana, South Afric...

Six African Countries Rank Among Top Economies in 2025
04

Ucamwal plans three new funds in Côte d’Ivoire, including Halal and women-focused options Two...

United Capital to launch Islamic and women-focused funds in Côte d’Ivoire
05

• FAO and WFP list Sudan, Nigeria, DR Congo, and others as hunger hotspots through Oct. 2025• Armed ...

UN sounds alarm on rising food insecurity in eight African countries
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

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

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.