Welcome to the latest edition of the West African Gold Mines Quarterly Summary produced by CSA Global.
For the quarter ending 30 September 2019 reported gold production totalled 2.05 Moz, with Ghana, Burkina Faso and Mali accounting for 75.7% of the production. Barrick Gold’s Loulo mine in Mali was the largest gold producer with 191,250 oz, followed by Newmont Goldcorp’s Ahafo mine (162,000 oz) in Ghana and Goldfields’ Tarkwa mine (127,300 oz) in Ghana.
The average gold price (London PM Fix) for the quarter was US$1,472/oz. The average reported All-in Sustaining Costs (AISC) was US$1,021/oz and to be considered in the lowest cost quartile an AISC of less than or equal to US$811/oz was required. The mine with the lowest reported AISC was SEMAFO’s Boungou mine in Burkina Faso with an AISC of US$497/oz, this was followed by Endeavour Mining’s Ity mine (US$575/oz) in Cote d’Ivoire and Newmont Goldcorp’s Akyem mine (US$612/oz) in Ghana.