Welcome to the latest edition of the West African Gold Mines Quarterly Summary to 31 December 2019 produced by CSA Global.
For the quarter ending 31 December 2019 reported gold production totalled 2.09 Moz, with Ghana, Burkina Faso and Mali accounting for 76.2% of the production. Newmont’s Ahafo mine in Ghana was the largest gold producer with 185,000 oz, followed by Barrick Gold’s Loulo mine (180,000 oz) in Mali and Gold Fields’ Tarkwa mine (120,900 oz) in Ghana.
The average gold price (London PM Fix) for the quarter was US$1,482/oz. The average reported All-in Sustaining Costs (AISC) was US$968/oz and to be considered in the lowest cost quartile an AISC of less than or equal to US$822/oz was required. The mine with the lowest reported AISC was SEMAFO’s Boungou mine in Burkina Faso with an AISC of US$463/oz, this was followed by Resolute Mining’s Mako mine (US$583/oz) in Senegal and B2Gold’s Fekola mine (US$685/oz) in Mali.