Welcome to the latest edition of the West African Gold Mines Quarterly Summary produced by CSA Global.
For the quarter ending 31 March 2020 reported gold production totalled 1.96 Moz, with Ghana, Burkina Faso, and Mali accounting for 76.5% of the production. Barrick Gold’s Loulo mine in Mali was the largest gold producer with 177,000 oz, followed by B2 Gold’s Fekola mine (164,011 oz) in Mali and Gold Fields’ Tarkwa mine (127,100 oz) in Ghana.
The average gold price (London PM Fix) for the quarter was US$1,586/oz. The average reported All-in Sustaining Costs (AISC) was US$966/oz and to be considered in the lowest cost quartile an AISC of less than or equal to US$766/oz was required. The mine with the lowest reported AISC was Resolute Minings Mako mine in Senegal with an AISC of US$454/oz, this was followed by B2 Gold’s Fekola mine (US$519/oz) in Mali and SEMAFO’s Boungou mine (US$550/oz) in Burkina Faso.