Endeavour Mining achieves first gold pour at expanded Senegal mine

Endeavour Mining announced on Monday the successful first gold pour from its Senegal mine expansion on April 18th, achieving a major milestone for the BIOX® expansion project, completed on schedule and within budget.

The miner, backed by Egyptian billionaire Naguib Sawiris, accomplished this milestone two years after construction began. It remains on track to meet its 2024 output guidance of 1.13 to 1.27 million ounces of gold. Commercial production at the expanded project is anticipated in the late second quarter, with ramp-up to its nameplate capacity of 1.2 million tonnes per year projected for the third quarter.

The Sabodala-Massawa BIOX expansion, valued at $290 million, marks Endeavour Mining's fourth successful capital project completion in the last decade.

"This achievement underscores the proficiency of our projects team and the competitive edge we hold in West Africa," remarked chief executive Ian Cockerill.

The company is now shifting its focus to delivering the Lafigué project in Côte d'Ivoire, which is expected to be completed in the upcoming weeks, a full quarter ahead of schedule.

This development brings some optimism to Endeavour Mining after the recent controversy surrounding the dismissal of former president and CEO Sébastien de Montessus earlier this year due to serious misconduct allegations.

Moreover, it follows allegations of misrepresentation related to the sale of two African gold mines, Wahgnion and Boungou in Burkina Faso, stemming from issues during the tenure of the ousted executive.