Welcome to the latest edition of the West African Gold Mines Quarterly Summary.
For the quarter ending 30 June 2018 reported gold production totalled 1.95 Moz, with Ghana, Burkina Faso and Mali accounting for 78.4% of the production. Randgold’s Loulo mine in Mali once again was the largest gold producer with 150,117 oz, followed by Gold Fields’ Tarkwa mine (133,100 oz) in Ghana and B2Gold Corporation’s Fekola mine (112,664 oz) in Mali.
The average gold price (London PM Fix) for the quarter was US$1,306/oz. The average reported All-in Sustaining Costs (AISC) was US$904/oz and to be considered in the lowest cost quartile an AISC of less than or equal to US$746/oz was required.
The mine with the lowest reported AISC was B2Gold’s Fekola mine in Mali with an AISC of US$445/oz, this was followed by Perseus Mining’s Sissingue mine (US$520/oz) in Cote d’Ivoire and Endeavour Mining’s Hounde mine (US$617/oz) in Burkina Faso.