- Of the 6 mines, 4 are located in Burkina Faso, one in Senegal and one in Côte d’Ivoire
- The production of the 4 mines in Burkina Faso represents 52.10%.
- Endeavour mining’s industrial presence is concentrated exclusively in West Africa
- Canadian-owned company managed from London
By the end of 2022, the 6 mines operated by the Endeavour mining group had produced 1,401 Kilo Ounces (Koz) of gold, or approximately 45.7 tonnes of gold (31.104 grams per ounce). This data was extracted from a press release issued in London on 23 January 2023. The purpose of the release was to announce preliminary financial and operating results for the group’s fourth quarter and fiscal year 2022.
According to the release, Endeavour mining’s industrial mining presence is focused exclusively in West Africa through its four mines in Burkina Faso, one in Senegal and one in Côte d’Ivoire. The 4 mines in Burkina Faso are; Houndé Gold, Semafo Boungou, Semafo Mana and Wahgnion Gold. Burkina Faso therefore hosts 2/3 of its operating mines.
Production from its mines in Burkina Faso in 2022 is estimated at 730 Kilo-ounces (approximately 22.7 tonnes), representing 52.10% of Endeavour’s total annual production. More than half of Endeavour’s production comes from Burkina Faso.
In terms of job creation, the figures published on the company’s website indicate 6740 jobs for the 6 mines, of which 4180, or 62.01%, are for the 4 mines in Burkina Faso.
It should be noted that Endeavour has recently divested itself of two operating mining projects, namely Karma in Burkina Faso, whose licence was sold on 10 March 2022 to Néeré and Agbaou in Côte d’Ivoire, which was sold on 1 March 2021 to Allied Gold Corp.
In addition to these mining projects, Endeavour Mining owns 80% of a mine under construction in Côte d’Ivoire. This is the Lafigué project, for which construction began in the last quarter of 2022. First gold production is expected in late 2024.
The company has very advanced research projects also in West Africa, including Kalana. Acquired in 2017, this licence is located approximately 250km south of Bamako, Mali. A positive pre-feasibility study was published in February 2021.
Endeavour mining also owns the Burkina Faso exploration licences at Bantou, located in the southwest and Nabanga in the east. These two exploration permits were acquired in July 2020 as part of the SEMAFO acquisition.
In Burkina Faso, Endeavour operated the Youga mine before selling it in February 2016 to MNG Gold, a Turkish company for 25.3 million US dollars.
In the wake of this sale, Endeavour bought out 100% of Canadian-based True Gold Mining Inc and becomes a 90% owner of the Karma gold mine in the north of Burkina Faso.
At the time, the Canadian-based company was registered in the Cayman Islands.
Prior to Karma, it took control of Houndé Gold and its satellite sites such as Bouéré, Kari, with the purchase of Avion Gold. Mana and Boungou will come under its control with the purchase of Semafo before it buys Teranga, which held the Wahgnion licence.
Despite this strong presence in Africa, the Canadian-based company is registered in London and Canada. It is managed from London.
Pierre Balma
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