On 25 January 2024, West African Resources Limited (WAF) presented the 2023 activity report for its mine, Sanbrado Mining Company (Société des Mines de Sanbrado – SOMISA). The presentation showed that in 2023, the company did not record any significant social, health or safety incidents. The 5 million hours worked in 2023 did not involve any work-related accidents.
In 2023, SOMISA, an open-pit and underground mine, produced 7,055 tonnes of gold. This gold was produced at production costs of 1,126 dollars per ounce. In the fourth quarter, these costs fell to 1,030 dollars per ounce of gold. This is in line with the targets set for 2023. Meanwhile, gold sales were at an average price of 1,978 dollars an ounce. This generated a large profit margin for the company. This performance is explained by the good gold content, at 3.8 grams per tonne.
Commenting on the results, Richard Hyde, West African’s executive president and chief executive officer, said: “Sanbrado Mines delivered another strong quarter of low-cost gold production. WAF also achieved the full year 2023 gold production target while working 5 million hours without incident. This is the third consecutive year that WAF has fully achieved its cost and production guidance and we look forward to the release of our guidance for 2024.”
Synthèse de Pierre Balma
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