Semafo restarts Boungou plant in Burkina Faso
The share price of Canadian miner Semafo climbed 9% in Toronto on Thursday, as the gold producer announced that it had restarted production from its Boungou mine, which was closed last year after a roadside militant attack on its workers.
At least 39 people were killed and about 60 were injured in the November 6 Islamist militant attack on a bus convoy that was heading for the Boungou operation, in eastern Burkina Faso.
The company said that it was using a ten-person helicopter to ferry employees and contractors between Fada and Boungou and that it would transition to an aeroplane when its airstrip is completed.
While mining will only resume in the fourth quarter, Semafo has started processing its stockpile of 1.1-million tonnes, representing about ten months of mill feed.
During an initial three-month period, the plant is expected to produce between 42 000 oz and 46 000 oz, at an all-in sustaining cost (AISC) of $530/oz to $560/oz.
Semafo stated, however, that it would require government to improve security on the public road and in the surrounding region in order to increase the frequency of deliveries, in order to operate after the initial three months.
The company also remained in discussions with mining contractors to replace African Mining Services (AMS) at Boungou by the fourth quarter. AMS, a subsidiary of Australia’s Perenti, exited the Boungou contract after 19 of its staff were killed in the attack and 26 injured.
At its Mana mine, also in Burkina Faso, Semafo is forecast to produce 185 000 oz to 205 000 oz at an AISC of $1 050/oz to $1 120/oz. The miner’s consolidated production forecast is 315 000 oz to 355 000 oz at an AISC of $895/oz to $960/oz.
Semafo’s stock climed 9% to C$3.03 a share.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...
VISIT SHOWROOM
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
