Barrick Gold says it has registered significant exploration successes, which could extend the Tongon gold mine’s life.
The mine’s reserves had depleted after 10 years of mining.
“The successful commissioning of Tongon [during] a civil war was a landmark achievement in the development of a gold mining industry in the highly prospective but underexplored Côte d’Ivoire,” said the company president and chief executive Mark Bristow.
“Since then, the mine has been consistently profitable — it has just declared a $150 million dividend for the second quarter of this year — and boasts one of the best safety records in the Barrick group.
“Over time it has invested $1.77 billion in the Ivorian economy in the form of taxes, salaries, payments to local suppliers and infrastructure developments.”
Meanwhile, the company said that in addition to work on the promising Seydou North and Tongon West targets, Tongon has filed the documentation for the extension of its Nielle mining licence by a further 10 years, to support the drive to add to its life-of-mine.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
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