Teranga produces its most gold ever, eyes higher 2020 output
TSX-listed Teranga Gold, which mines in Senegal and Burkina Faso, has reported record gold production of 288 768 oz for 2019.
Production increased by 18% over the 245 230 oz of gold produced in 2018, Teranga said last week, ahead of its fourth-quarter and year-end results announcement, scheduled for February.
The Wahgnion mine, in Burkina Faso, achieved commercial production effective November 1, and surpassed the high end of its gold production guidance of 30 000 oz to 40 000 oz, with a total of 47 492 oz.
Sabodala, in Senegal, topped its 2019 production guidance of 215 000 oz to 230 000 oz, with a total of 241 276 oz of gold produced.
“[The year] 2019 represents the fourth consecutive year in which we have exceeded our production guidance and reported record results, a testament to the quality of our operating teams,” commented COO Paul Chawrun.
Teranga is also buying the Massawa gold project from Barrick for $430-million.
“We anticipate the Sabodala-Massawa complex, together with our new mine, Wahgnion, will significantly increase our consolidated annual production and support Teranga’s transformation into a low-cost, midtier gold producer,” said president and CEO Richard Young.
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