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.
Live News
-
Mali Performance Review Highlights Implementation Setbacks Amid Moderate Growth And Low Inflation Backdrop
09:56
-
Egypt, Canada Seal $11.5 Million Deal on Women and Food Security
08:52
-
Togo Revises 2025 Budget as Revenue Falls and Spending Rises
08:49
-
Togo Bank Lending Jumps 22% to CFA903 Billion by September
08:46
-
Unified Data Seen as Key to Improving Performance at African Ports
06:52
-
Sanlam Rebrands Togo Operations as SanlamAllianz
06:22
-
Egypt’s Nawah Scientific Raises $23 M to Expand Laboratory Capacity
06:13
-
South Africa Names 12 Winners at Annual Startup Awards
06:06
-
Nigeria Sees Launch of Self-Custody Bitcoin Wallet Service
06:03
-
Sierra Leone Bets on Digital Freelancing to Tackle Youth Unemployment
19:51
AI-backed agri-fintech is increasingly being used to pilot new rural credit models in Africa, where ...
Fruitful partners with Elsewedy unit to launch processing project in Egypt New facility wil...
Investment bank BCID-AES established in Bamako Bank aims to fund infrastructure, agricultur...
This week’s health update shows Africa edging closer to the end of the mpox public health emergency,...
Fitch upgrades Côte d’Ivoire to BB, saying political uncertainty has lifted and the country has mo...
AfDB portfolio under review against a macroeconomic backdrop of modest growth and disinflation IMF data confirm real GDP expansion around 4–5%...
Egypt and Canada signed three projects worth about EGP 552 million ($11.5 million) focused on women’s empowerment and food security. UNHCR and...
Togo cut projected 2025 budget revenue by 1% to CFA1,472 billion while raising spending by 2.3% to CFA1,717.1 billion. The revised budget shows a...
Togolese banks granted CFA903 billion in new loans by end-September 2025, up 22% year on year. The National Credit Council cited sustained...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...
Palm Hills Developments signs agreement with Marriott International to introduce the St. Regis brand in West Cairo. Project to include a luxury...