Burkina Faso: Bomboré Gold Mine Targets First Production by 2025

Mining company Orezone Gold aims to produce first gold from a planned hard rock plant at the Bomboré Gold Mine in Burkina Faso by 2025. First production represents part of a two-phase brownfield expansion initiated by the company, which will see the mine eventually increase output to seven mtpa.

The first stage of the expansion comprises the construction of a 2.5 million tons per annum (mtpa) hard rock plant while the second stage will further boost gold production to between five and seven mtpa. The capital cost for the initial hard rock plant is estimated at $80 million, which will be partly funded by Burkinabe Coris Bank, from whom Orezone Gold is expecting a binding debt proposal in June 2024.

The company has also launched a three-year exploration campaign at the mine to better assess the scope of resources, with drilling slated to begin in Q3-2024. Preparatory work for the campaign is already underway.

Patrick Downey, CEO of Orezone Gold, stated, “This two-stage approach to the construction of the hard rock plant is prudent to ensure that the balance sheet is not over levered, and that the expansion can advance in a timely manner without having to contemplate costly financing alternatives.”

The company initially planned to build a 4.4 mtpa hard rock plant in a single stage. However, following an audit of the company’s available financial sources, the company decided to develop the plant in two phases to better manage capital requirements.