• Essakane mine output fell 28.7% in H1 2025 to 181,000 ounces on lower ore grades.

• Iamgold keeps 2025 target of 400,000–440,000 ounces, expects H2 rebound.

• Stake cut to 85%, Burkina Faso now holds 15%.

The Essakane gold mine in Burkina Faso produced 181,000 ounces of gold in the first half of 2025, a 28.7% decrease from the 254,000 ounces produced a year earlier. This decline was reported in the activity report published Thursday, August 7, by Iamgold, the Canadian owner of the mine.

Iamgold noted a 27% production drop in the first quarter of 2025, followed by a 31% drop in the second quarter. The company attributes this slowdown to a decrease in the gold grade of the processed ore. For example, between April and June 2025, the company processed 3.1 million tonnes of ore with a grade of 0.93 grams per tonne, representing a 36% decrease in grade compared to the same period in 2024.

Despite the decline, this trend was anticipated in the mine’s 2025 production forecasts. Iamgold is maintaining its target of producing 400,000 to 440,000 ounces this year, down from 454,000 ounces in 2024. The company expects a significant increase in gold production from the site in the second half of 2025.

Iamgold's stake in the Essakane mine was reduced to 85% on June 20, 2025, from 90%. The Burkinabe government now holds a 15% interest in the gold deposit, in accordance with the country's 2024 revised mining code.

Emiliano Tossou