Welcome to the latest edition of the West African Gold Mines Quarterly Summary produced by CSA Global.
For the quarter ending 30 September 2018 reported gold production totalled 1.85 Moz, with Ghana, Burkina Faso and Mali accounting for 81.3% of the production. Randgold’s Loulo mine in Mali once again was the largest gold producer with 174,018 oz, followed by Gold Fields’ Tarkwa mine (126,500 oz) in Ghana and B2Gold Corporation’s Fekola mine (107,002 oz) in Mali.
The average gold price (London PM Fix) for the quarter was US$1,213/oz. The average reported All-in Sustaining Costs (AISC) was US$959/oz and to be considered in the lowest cost quartile an AISC of less than or equal to US$787/oz was required. The mine with the lowest reported AISC was Newmont’s Akyem mine in Ghana with an AISC of US$574/oz, this was followed by B2Gold’s Fekola mine (US$607/oz) in Mali and Endeavour Mining’s Hounde mine (US$638/oz) in Burkina Faso.