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.
The BCID-AES launches with 500B CFA to fund Sahel infrastructure, asserting sovereignty from the B...
Nomba brings Apple Pay to 300k Nigerian shops. Following Paystack, this "second row" move enables ...
Kenya shipped its first mango consignment to the UK on December 20 The move is part of a pilo...
Kenya’s CMA licensed Safaricom and Airtel Money as Intermediary Service Platform Providers (ISPPs)...
NALA has secured PSP and PSO licenses from the Bank of Uganda, adding to its 2024 Money Remittance...
Burkina Faso adopts 2026 budget projecting 3,431.5 billion CFA francs revenue Spending prioritises security, education, health and rural...
Kinshasa signs MoU with Vietnam’s Vingroup for electric transport rollout VinFast to supply electric buses, cars and charging infrastructure Project...
Chad’s prime minister presses telecom operators to improve service quality Regulator audits reveal persistent outages, coverage gaps and weak...
Partnership targets priority projects, startup support and skills training Deal aligns with push to diversify economy through...
Afrochella, now known as AfroFuture, is a cultural event held annually in Ghana, mainly in Accra, around the Christmas and end-of-year period. Launched in...
Algiers is a coastal capital of around four million inhabitants, located in north-central Algeria. Its urban structure, heritage, and social practices...