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
Shell plans to launch an exploration campaign of around five wells on PEL 39 starting April 2026. Shell recently booked a $400 million...
Blencowe raises £3 million via share placement for Uganda graphite project Funds support Orom-Cross development amid delayed lender financing...
Funds expand equipment credit for off-grid solar mini-grids in Africa Platform targets $800 million solar equipment orders over four years...
Floating regasification unit planned at Nador West Med port Project aims to secure gas supply after pipeline halt Morocco plans to commission its...
Most Read
01

Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...

Omer-Decugis & Cie Expands Mango Operations in West Africa
02

Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...

AfDB Re-engages Eritrea With Strategy Focused on Infrastructure, Climate Resilience and Regional Integration
03

Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...

Malawi: New $100M Cement Plant Targets Forex Crisis but Faces Energy Reality
04

Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...

Nigeria Pursues Boeing, Cranfield Partnership to Establish Aircraft Maintenance Center
05

Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...

Benin Government Says Attempted Coup Against President Talon Has Been Foiled
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.