Welcome to the latest edition of the West African Gold Mines Quarterly Summary produced by CSA Global.
For the quarter ending 30 June 2019 reported gold production totalled 2.03 Moz, with Ghana, Burkina Faso and Mali accounting for 77.1% of the production. Newmont Goldcorp’s Ahafo mine in Ghana was the largest gold producer with 159,000 oz, followed by Barrick’s Loulo mine (147,000 oz) in Mali and Goldfields’ Tarkwa mine (134,200 oz) in Ghana.
The average gold price (London PM Fix) for the quarter was US$1,309/oz. The average reported All-in Sustaining Costs (AISC) was US$976/oz and to be considered in the lowest cost quartile an AISC of less than or equal to US$770/oz was required. The mine with the lowest reported AISC was SEMAFO’s Boungou mine in Burkina Faso with an AISC of US$476/oz, this was followed by Endeavour Mining’s Ity mine (US$585/oz) in Cote d’Ivoire and B2Gold’s Fekola mine (US$625/oz) in Mali.