Welcome to the latest edition of the West African Gold Mines Quarterly Summary produced by CSA Global.
For the quarter ending 31 March 2019 reported gold production totalled 1.97 Moz, with Ghana, Burkina Faso and Mali accounting for 75.7% of the production. Barrick’s Loulo mine in Mali once again was the largest gold producer with 160,000 oz, followed by Newmont Goldcorp’s Ahafo mine (137,000 oz) in Ghana and Goldfields’ Tarkwa mine (136,700 oz) in Ghana.
The average gold price (London PM Fix) for the quarter was US$1,304/oz. The average reported All-in Sustaining Costs (AISC) was US$922/oz and to be considered in the lowest cost quartile an AISC of less than or equal to US$753/oz was required. The mine with the lowest reported AISC was SEMAFO’s Boungou mine in Burkina Faso with an AISC of US$534/oz, this was followed by Resolute Mining’s Syama mine (US$598/oz) in Mali and B2Gold’s Fekola mine (US$614/oz) in Mali.