- Kiaka will be a long-term, low-cost mine
- It will produce an average of 6.8 tonnes of gold per year for 18.5 years
- Average production cost of 1,052 dollars per ounce
- Community resettlement buildings are being constructed by national companies
On 25 January 2024, West African Resources Limited (WAF) presented the 2023 activity report for Kiaka, its mine under construction in the Zoundwéogo (Manga) province.
Kiaka will be a long-life, low-cost mine that will produce an average of 6.8 tonnes of gold per year for 18.5 years at a weighted average cost of 1,052 dollars per ounce. With the development of Kiaka, WAF expects to become a gold producer of more than 12.5 tonnes of gold per year.
What is the current situation at Kiaka?
According to the press release, construction at Kiaka is progressing on schedule and on budget for the first gold pour in the 2nd half of 2025.
In the 4th quarter of 2023, construction of the camp was completed, while the security buildings (gendarmerie and gate access) were opened for occupation. Earthworks for the construction of the processing plant, the primary crusher, the recovery plant and the shredders have progressed well. The perimeter fencing of the entire licensed area continued.
Equipment orders continued into the 4th quarter and delivery dates remain on schedule.
The crushers are due to be shipped and the main earthworks are due to progress in the areas of the water storage dam. The reagent sheds and warehouse should be installed and operational by the end of the year.
According to the company, the resettlement programme for affected communities continues to progress. The construction of buildings for the resettlement of communities is being carried out by national companies. More than 97% of compensation agreements have been signed and compensation payments are well under way.
Summary by Pierre Balma
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