Welcome to the latest edition of the West African Gold Mines Quarterly Summary produced by CSA Global.
For the quarter ending 30 June 2020 reported gold production totalled 2.02 Moz, with Ghana, Burkina Faso and Mali accounting for 77.6% of the production. Barrick Gold’s Loulo mine in Mali was the largest gold producer with 176,000 oz, followed by B2 Gold’s Fekola mine (147,424 oz) in Mali and Gold Fields’ Tarkwa mine (144,500 oz) in Ghana.
The average gold price (London PM Fix) for the quarter was US$1,711/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$784/oz was required. The mine with the lowest reported AISC was B2Gold Corporation’s Fekola mine in Mali with an AISC of US$562/oz, this was followed by Endeavour Mining’s Boungou mine (US$710/oz) in Burkina Faso and Newmont’s Akyem mine (US$713/oz) in Ghana.