Mali: Hummingbird Resources Earned $37M from Yanfolia Gold Mine in Q1 2024
Thursday, 25 April 2024 18:52
The price of gold has been steadily rising, surpassing $2,400 per ounce in April 2024. However, not all gold producers are reaping the benefits equally, as seen in the performance of Mali's Yanfolila gold mine.
Hummingbird Resources, the British owner, reported a 38% year-on-year production decrease to 16,999 ounces in the first quarter of 2024. Revenues also fell by 25% to $37 million compared to the same period in 2023.
#NewsAlert: This morning we announced our Q1-2024 operational and trading update.
— Hummingbird Resources plc (@HUM_gold) April 25, 2024
Find the full release here: https://t.co/iOVxINNcEV pic.twitter.com/aHXwN2DXg2
Despite the higher gold selling price averaging $2,030 per ounce in Q1 2024 versus $1,878 per ounce a year earlier, the decline in volumes sold led to a 31% decrease in sales to 18,230 ounces compared to the first three months of 2023.
Hummingbird's output target for Yanfolila in 2024 stands between 75,000 and 85,000 ounces of gold. The company also operates the Kouroussa gold mine in Guinea. There, it produced 5,868 ounces in Q1 2024.
Live News
-
Oscars 2026: Two African Women Compete as the Continent Eyes a Historic Win
20:51
-
Algeria Launches Commission to Drive University 4.0 Transition
20:41
-
Ethio Telecom Seeks Italian Funding for Digital Infrastructure Expansion
20:39
-
Portuguese BA Glass Targets Controlling Stake in Tunisian Glassmaker Sotuver
20:34
-
CCI-Togo Previews Program to Train Women as Truck and Crane Operators
20:29
-
Equatorial Guinea’s Bange Bank Expands in Cameroon with Six New Branches
20:27
-
Canyon Keeps Minim Martap Timeline After Investors Block Afriland, Eagle Eye Funding
20:23
-
Cameroon Plans CFA40 Billion Capital Increase for State SME Bank
19:41
-
Transparency International Defends SNH Partnership Despite Glencore Scandal Fallout
19:29
-
Nigerian Startup Fixr Technologies Launches Usefixr Maintenance Marketplace
19:18
Ethio Telecom has signed a new agreement with Ericsson to expand and modernize its telecom netwo...
EIB commits over €1 billion for renewable energy in sub-Saharan Africa Funding supports Miss...
MTN Zambia tests Starlink satellite service connecting phones directly from space Direct-to...
Since its 2019 IPO, Airtel Africa paid Deloitte over $37 million in audit and non-audit fees,...
Nigeria introduced a 1% flat tax on the turnover of informal-sector businesses under a new presump...
Ethio Telecomis exploring financing support from Italy’s development bank Cassa Depositi e Prestiti (CDP) for digital infrastructure projects. The...
Portuguese glass-packaging group BA Glass seeks approval to acquire a 41.28% controlling stake in Tunisia’s Sotuver. The transaction values the block...
Proparco commits $15 millionto the African Transition Acceleration Fund (ATAF), a vehicle targeting early-stage climate infrastructure in...
Zambia aims to strengthen its digital policies by studying Kenya’s regulatory and technological frameworks. Officials discussed cybersecurity...
Actress Wunmi Mosakuand director Kaouther Ben Haniarepresent Africa among contenders at the 2026 Oscars. Mosaku received a nomination for Best...
With much of Africa’s cultural heritage still held outside the continent and restitutions in Europe moving slowly, a South African video game imagines...