Mining

Burkina Faso: Orezone On Track to Reach 2024 Target

Burkina Faso: Orezone On Track to Reach 2024 Target
Friday, 19 July 2024 13:00

Canada's Orezone supplied 7% of Burkina Faso's gold output in 2023 from the Bomboré mine. This year, the firm plans to produce between 110,000 and 125,000 ounces of gold, down from 141,425 ounces last year.

In the first half of 2024, the Bomboré mine produced 55,663 ounces of gold, down 27% year-on-year. On July 18, Orezone confirmed its production target for the year–between 110,000 and 125,000 ounces (3.11 to 3.54 t).

"The second quarter was a solid operating quarter in line with our annual plan, despite regional grid power interruptions early in the quarter," said Patrick Downey, CEO of Orezone.

Orezone is also expanding the Bomboré mine, with plans to increase production to 170,000 ounces by 2026. The company has secured $105 million in funding from Coris Bank and Nioko Resources Corporation, an investment group in West Africa.

Burkina Faso produced 57.3 tonnes of gold in 2023. Bomboré produced about 4 tonnes.

On the same topic
Burundi triples electricity capacity in five years, reaching 166.29 MW in 2025. Jiji-Mulembwe hydropower complex aims to supply 15,000 households...
Nigeria cuts oil contract approval periods from 36 to 6 months, unlocking major stalled projects. Over $16 billion in new investments...
Asia Mineral Limited signs agreement with Kerith Ressources to establish Kivuvu Kongo Mines in Kongo Central. DRC aims to reduce China’s 80%...
Endeavour Mining produced 1.10 million ounces of gold in 2024, leading West Africa La Mancha, controlled by Egypt’s Sawiris family, holds the...
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

Lebara Group is now bringing its affordable and reliable mobile services to Africa, starting with Ni...

Telecoms: Lebara Enters Nigerian Market with Strong Competitive Ambitions
03

In a West African financial landscape marked by tighter regulation of the fintech sector, digital fi...

In Five Years, Francophone Africa Will be A Major Force in African Tech –Régis Bamba
04

• Google unveils Veo 3, its latest AI tool for ultra-realistic video generation• Experts warn deepfa...

Deepfake Threat Becomes Alarming in Africa as AI Advances Faster Than Laws
05

• Gates Foundation commits $1.6 billion over five years to Gavi.• Bill Gates warns of rising ch...

Gates Foundation Pledges $1.6 Billion to Gavi to Boost Global Child Vaccination
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.