- Expected production of 72 tonnes of gold between 2023 and 2028
- 12 tonnes a year
- Around 500 billion FCFA of investment over the period
- The results of research carried out within the operating licence
The life of the Essakane mine has been extended to 2028. Mining will be based on 03 phases of the Essakane main pit and the Lao and Gourouol satellite pits.
These are the terms of a press release issued by Iamgold Corporation in Toronto on 18 December 2023. Gourouol is located to the north of the main pit, while Lao is to the south. It represents 12% of the gold to be extracted in the plan.
Essakane is located in the heart of the insecure zone. It has stepped up exploration within its licence to achieve its results.
It has submitted a technical report on the subject. The report provides an updated estimate of mineral resources and mineral reserves, as well as an updated mine life plan by Essakane.
With this update, overall production between 2023 and 2028 is expected to be 2.4 million ounces of gold (around 72 tonnes of gold), with average annual gold production of around 12 tonnes of gold over this period.
In other information in the report, capital expenditure over the life of the mine is estimated at 502.7 million dollars, or around 500 billion FCFA (including 2023). Estimated mineral reserves at the open pit increased by 21% to 1.9 million ounces at an average grade of 1.32 grams per tonne.
Renaud Adams, President and CEO of Iamgold commented on the event: “Essakane, one of West Africa’s leading gold mines, continues to be an integral part of Iamgold. The filing of the technical report update today demonstrates the success of our teams inside the fence, delineating additional ounces that have increased our mineral resource inventory and more than offset the mine’s production depletion in 2023. As a result, we have been able to extend the life of mine at Essakane by a further year, providing visibility for the next 5 years of project operations”.
The new plan provides for an increase in the plant’s treatment capacity. “This new updated plan no longer includes the investment, construction and operation of a heap leaching facility following the successful demonstration of the plant’s ability to treat part of the storage piles designated for heap leaching using existing facilities,” the report states.
As a reminder, Iamgold Essakane signed its mining agreement with the government of Burkina Faso on 25 September 2008. It began production on 16 July 2010 for an initial life of 8.6 years.
It is the country’s largest mine. In 2021, it produced 14.119 tonnes of gold, sold for 452.680 billion FCFA. The number of people employed was estimated at 2,645 in 2021, including 2,470 Burkinabè and 175 expatriates.
Elie KABORE
#Mines_Actu_Burkina
