- 4.292 tonnes produced in October 2023
- Down 14.6% compared with September 2023
- Following lower production at Houndé Gold SA (-44.7%), Bomboré (-34.9%) and SOMISA (-33.4%)
- 46,239 tonnes produced between January and October 2023
- Down by 1.5% on the same period in 2022
Between January and October 2023, total gold production was 46.239 tonnes. This is down by 1.5% on the same period in 2022, when it stood at 46.922 tonnes at the end of October 2022. These figures are reported in the Monitoring report on economic and development indicators for November 2023, published by the Directorate General for the Economy and Planning (Direction générale de l’Economie et de la Planification – DGEP).
The fall in production in October 2023 had an impact on annual production. Indeed, in October 2023, industrial production of fine gold totalled 4.292 tonnes, down by 14.6% compared with September 2023. The report indicates that this decline is due in particular to the drop in production at almost half of the Houndé Gold SA mine (-44.7%), the Orezone Bombore mine (-34.9%) and the SOMISA mine (-33.4%).
A fall in production offset by a firm gold price. Although gold prices have been falling slightly for the past 3 months, they remain high. Indeed, the gold price stood at 1,912.9 US dollars at the end of October 2023, compared with 1,918.4 US dollars in September 2023, a slight contraction of 0.3%. Compared with its level in October 2022, the price of an ounce of gold is up by 14.8%. “The fall in the gold price in October 2023 can be explained by persistently high interest rates and inflation. In addition, the value of the US dollar rose again during the month, depressing the gold price”, explains the DGEP report.
As for the dollar, it will trade at 621 FCFA in October 2023 compared with 614 FCFA in September 2023.
Synthèse de Elie KABORE
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