Welcome to our first edition of the West African Gold Mines Quarterly Summary.
For the quarter ending 31 March 2018 reported gold production totalled 1.92 Moz, with Ghana, Burkina Faso and Mali accounting for 78.3% of the production.
Randgold’s Loulo mine in Mali once again was the largest gold producer with 144,056 oz, followed by Gold Fields’ Tarkwa mine (131,200 oz) in Ghana and IAMGOLD’s Essakane mine (121,000 oz) in Burkina Faso.
The average gold price (London PM Fix) for the quarter was US$1,330/oz. The average reported All-in Sustaining Costs (AISC) was US$918/oz and to be considered in the lowest cost quartile an AISC of less than or equal to US$783/oz was required.
The mine with the lowest reported AISC was again Endeavour Mining’s Hounde mine in Burkina Faso with an AISC of US$433/oz, this was followed by B2Gold’s Fekola mine (US$486/oz) in Mali and Roxgold’s Yaramoko mine (US$658/oz) in Burkina Faso.