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
Fortuna Mining reported 42,016 ounces of gold production in Q1 2026, up 9% year-on-year. The company maintained its annual production...
Nigeria increased gas reserves by about 5 trillion cubic feet to 215.10 Tcf in one year. Oil and condensate reserves remained broadly stable at...
Heath Goldfields secures $65 million financing from Trafigura Funding supports Bogoso-Prestea mine after production resumed Deal includes...
PowerGen and Noclink launch 1.8 MW solar plant for plastic production and recycling Project reflects broader push to cut energy costs in industrial...
Most Read
01

EBID aims to allocate nearly 41% of its commitments to environmentally and socially impactful projec...

EBID Charts Green Shift to Finance West Africa’s Growth
02

BCEAO mandates all financial institutions to complete integration Move aims to ensure seamless, i...

BCEAO Imposes June 30 Deadline to Complete Instant Payments Integration
03

Flutterwave secures Nigerian banking license to offer credit and savings License enables direct d...

Flutterwave Secures Banking License in Nigeria, Joining Push by Fintechs Like Revolut, Wise
04

This week, Africa’s health outlook is shaped by mounting supply chain risks tied to global tensions,...

Weekly Health Update | Africa Faces Health Supply Risks; DRC Ends Mpox Emergency
05

MTN Ghana completes separation of mobile money into new entity Move aims to boost fintech growth ...

MTN Ghana Completes Mobile Money Spinoff, Creates Standalone Fintech Entity
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.