Mining

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

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

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.

On the same topic
Desert Gold launches 4,250m drilling at SMSZ project in Mali Program targets resource expansion across five priority prospects Campaign supports...
Egypt signs $8M deal for textile plant in SCZone Factory to create 700 jobs, export 90% of output Investment supports textile export growth...
Government orders talks to set “fair” Jet A1 prices Fuel costs jump nearly 267% in two months, straining airlines Sector warns of flight disruptions...
New 50 MW solar plant aims to improve power supply in rural Luapula Project reflects shift away from hydro dependence after 2024 drought Government...
Most Read
01

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
02

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
03

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
04

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
05

As the Japanese automaker faces global headwinds, it is doubling down on its operations in Egypt, ai...

From South Africa to Egypt: Why Nissan is reshaping its African strategy
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.