Mining

Allied Gold's mining output declines in West Africa, company eyes recovery in 2024

Allied Gold's mining output declines in West Africa, company eyes recovery in 2024
Tuesday, 27 February 2024 10:13

Allied Gold operates three gold mines in West Africa: Bonikro and Agbaou in Côte d'Ivoire, and Sadiola in Mali. In 2022, these three mines delivered 371,000 ounces or 10.52 tons of gold.

Canadian mining company Allied, with operations in Mali and Côte d'Ivoire, announced it has generated a total of 343,817 ounces (around 9.75 tons) of gold in 2023. In a February 21 press release, the company detailed that nearly half of this production, or 171,007 ounces (about 4.85 tons), came from the Sadiola Gold Mine in Mali.

The company operates three gold mines in West Africa, namely Bonikro and Agbaou in Côte d'Ivoire, and Sadiola in Mali. Together, these mines produced 371,000 ounces, or 10.52 tons, of gold in 2022. These figures mean that the 2023 output marks a 7% decrease from the previous year. In 2022, Sadiola delivered 175,000 ounces, while Bonikro and Agbaou in Côte d'Ivoire contributed 196,000 ounces combined. Last year, Bonikro produced 99,409 ounces, and Agbaou accounted for 73,401 ounces, totaling 172,810 ounces for the Ivorian mines.

Allied Gold did not specify the reasons behind the decline in production. However, the company anticipates a rebound in 2024, projecting a production range of 375,000 to 405,000 ounces of gold. Sadiola is expected to remain a key asset, with its output estimated between 195,000 and 205,000 ounces. Bonikro is forecasted to produce between 95,000 and 105,000 ounces, while Agbaou between 85,000 and 95,000 ounces.

To achieve these targets, Allied Gold plans to invest $62 million in its West African operations in 2024, with $47.5 million for the Sadiola Gold Mine alone. $24.5 million will also be allocated for exploration across the company's three assets in the sub-region, including $10.5 million for the Bonikro mine in Côte d'Ivoire.

On the same topic
First Quantum to sell surplus sulfuric acid amid tightening supply Zambia disruptions, Middle East shortages cut sulfur supply...
Revenue climbs 29% in Q1 2026 despite lower production Gold output drops across key mines, except Lafigué Higher gold prices offset volume...
Q1 copper production reaches 199,600 tons, up 19% year-on-year DR Congo output jumps 68%, led by Kamoto and Mutanda Group maintains 2026 outlook...
Project targets up to 1 million tons of output using solar and wind Initial investment estimated at $5 billion, with expansion potential Plan...
Most Read
01

Mediterrania Capital bought Australian Amcor's Moroccan packaging unit Enko Capital took ov...

Two Other African-focused Private Equity Firms to Snap Up assets shed by Global Majors
02

Enko Capital acquires Servair’s fast-food unit in Côte d’Ivoire, including the Burger King franchi...

Enko Capital Buys Burger King Côte d’Ivoire in Servair Restructuring
03

Standard Chartered arranges $2.33 billion for Tanzania railway project Funding support...

Tanzania Secures $2.33 Billion in Syndicated Financing for Standard Gauge Railway
04

Central bank to release $1 billion in cash to curb black market demand Move aims to ease inf...

Libya Opens Dollar Sales to Ease Pressure on Dinar and Prices
05

From eastern Chad, where measles and meningitis are spreading through overcrowded refugee camps, to ...

Weekly Health Update | Vaccination Gains Advance in Africa; Antimalarial Resistance Threatens Progress
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.