Modern Mining September 2020

“It is only in the last two decades or so that exploration for gold has been intensified in these countries – churning out the new discoveries and new mining projects. “Gold deposits that have been discovered in countries like Burkina Faso, Côte d’Ivoire and Mali are quite attractive and this has encouraged more investors to come in. In addition, governments in the region are making it easier to attract foreign invest- ment – knowing that they are in competition with other countries within the sub-region which have a similar style of mineralisation.” Mining operations When asked about noteworthy projects underway in the region, BDO’s Koudou refers to well-estab- lished, producing gold mines, including Barrick Gold Corporation’s Loulo-Gounkoto complex in Mali and Tongon in Côte d’Ivoire; Endeavour’s portfo- lio of mines in Burkina Faso and Ivory Coast, and AngloGold Ashanti’s assets in Ghana, which include the redeveloped Obuasi mine. “Besides these well-established mines,” says MacRae, “there are some exciting new projects in the region. The sale of Barrick Gold’s Massawa exploration project to Teranga Gold Corporation, which was completed in March this year, created the largest producing gold mine in Senegal. “Teranga Gold is currently integrating the high- grade Massawa gold project into its operations, which transforms its existing Sabodala mine into a top-tier gold asset with low costs, long-life reserves,

Andrew van Zyl, director and principal consultant at SRK Consulting.

Bert Monro, CEO of Cora Gold.

Ivan Doku, principal resource geologist at SRK Consulting.

John Kwofie, country manager at SRK Consulting Ghana.

John Paul Hunt, senior exploration geologist, SRK Exploration.

Marcin Wertz, SRK Consulting partner and principal consultant.

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