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Burkina Faso: Orezone expects lower output at its Bomboré gold mine this year, compared to 2023

Wednesday, 27 March 2024 21:11
Burkina Faso: Orezone expects lower output at its Bomboré gold mine this year, compared to 2023

(Ecofin Agency) - The Bomboré mine delivered 141,425 ounces (4 tons) of gold in 2023. The mine, which began production in September 2022, is 90% owned by Orezone, a Canadian firm. The government of Burkina Faso holds the remaining 10%.

Orezone expects its Bomboré gold mine to produce between 110,000 and 125,000 ounces (over 3 tons) this year. The Canadian firm disclosed the forecast on March 27 in its operational and financial results for the past year.

Year-on-year, this would translate into an 11% decrease. In 2023, gold production peaked partly due to the processing of ore stocks accumulated during the mine construction phase. The company also attributed its low expectations for production to delays in exploiting certain high-grade ore-rich zones.

"During its first full year of commercial production, the Bomboré mine successfully produced 141,425 ounces of gold [...]. We expect 2024 to be another profitable year, even though the expected gold production will be slightly lower than in 2023," said Orezone CEO Patrick Downey.

The Bomboré mine commenced production in September 2022. According to current estimates, the mine could deliver up to 2.11 million ounces (approximately 60 tonnes) of gold by 2034.

The Bomboré mine is owned at 90% by Orezone and 10% by the Burkinabé government.



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ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

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