R/€ = 15.73 Change: 0.00
R/$ = 13.84 Change: 0.00
Au 1281.42 $/oz Change: -12.44
Pt 794.99 $/oz Change: -8.87
 
 
R/€ = 15.73 Change: 0.00
R/$ = 13.84 Change: 0.00
Au 1281.42 $/oz Change: -12.44
Pt 794.99 $/oz Change: -8.87
 
 
BACK

Semafo meets FY18 output guidance

10th January 2019 BY: Tasneem Bulbulia
Creamer Media Reporter

Canada-based mining company Semafo produced 244 600 oz of gold in 2018 – in line with guidance of 235 000 oz to 265 000 oz.

The company, which operates in West Africa, achieved fourth-quarter production of 95 200 oz of gold, owing to a first full quarter of production at the Boungou mine, in Burkina Faso.

Advertisement

The mine delivered 53 100 oz of gold in the quarter, reflecting an average head grade of 6.34 g/t gold.

The strong performance in the quarter is mainly owing to the head grade, as the company reached the higher-grade zones of the starter pit.

Advertisement

The mine produced a total of 75 600 oz of gold in 2018, which includes pre-commercial production of 12 000 oz.

The Mana mine, also in Burkina Faso, produced 181 000 oz of gold in 2018, a 12% decrease on the 206 400 oz produced in 2017.

Semafo attributed the variations between the 2017 and 2018 output mainly to the change in ore mix.

Meanwhile, development of the Siou underground mine is progressing according to plan. At year-end, the company had completed 1 060 m of the 5 600 m underground development required to begin production. 

EDITED BY: Chanel de Bruyn Creamer Media Senior Deputy Editor Online
EMAIL THIS ARTICLE SAVE THIS ARTICLE ARTICLE ENQUIRY