Endeavour Mining plc (LON:EDV, TSX:EDV, OTCQX:EDVMF) has announced that it has achieved commercial production at both its Sabodala-Massawa BIOX Expansion in Senegal and at its Lafigué mine in Côte d’Ivoire, effective as of 1 August 2024. Both projects have been completed on budget and on schedule, with the full ramp up to nameplate capacity underway.
HIGHLIGHTS:
• Commercial production achieved on budget and on schedule at the Sabodala-Massawa BIOX Expansion and the Lafigué mine on 1 August 2024
• Organic growth phase completed improving the quality of the portfolio and underpinning the transition to a phase focused on free cash flow generation
• BIOX Expansion achieved commercial production; operating with 94% plant availability at 80% of nameplate capacity, with average recoveries of above 72% during July and August
• Lafigué mine achieved commercial production only one month after the first gold pour; operating with 87% plant availability at 72% of nameplate capacity, with average recoveries of above 95% during August
• The Group remains on track to achieve its full-year production guidance with AISC near the top end of the guided range
Ian Cockerill, Endeavour Mining CEO, commented: “We are pleased to have achieved commercial production at both of our organic growth projects, fully de-risking construction and ramp-up activities. Both projects will drive stronger operating performance in the second half of the year, underpinning our Group production guidance, while adding low-cost production, extending mine life visibility, and increasing the geographic diversification of the portfolio.
I congratulate our entire in-house project’s team for the successful delivery of these two projects, and for their continued industry leading project delivery over the last 10 years, successfully completing the construction of five growth projects on budget and on schedule, all in under two years. We will now transition the team to focus on our asset level optimisation initiatives and technical studies, ahead of our next growth phase, with the construction of the potential tier one Assafou project from 2026.
The completion of this phase of growth is a significant milestone for Endeavour. With our higher quality portfolio, we will transition to a phase focused on free cash flow generation that will support enhanced shareholder returns, through additional supplemental returns, while we simultaneously reduce our leverage, as we continue to execute on our strategy.”
Sabodala-Massawa BIOX Expansion
The BIOX Expansion achieved its first gold pour from the gravity circuit on 18 April 2024 and its first gold pour from the BIOX circuit on 28 April 2024. Commercial production was achieved on 1 August 2024, less than four months after the first gold pour.
All circuits are operating in-line with expectations and during July and August combined, 160kt of ore was processed at a grade of 2.8g/t gold. Processing rates exceeded 2,580 tonnes per day, equivalent to 80% of nameplate capacity, and plant availability was above 94%. Average metallurgical recoveries were above 72% as we processed lower grade transitional ore during the ramp up, while mining activities have now advanced into fresh ore in the Massawa Central Zone, supporting higher grades and higher recovery rates for the remainder of the year.
During July and August, throughput rates, plant availability and recovery rates consistently exceeded our commercial production criteria for a period of at least 30 days and all major capital expenditure has been completed with the project’s construction team having now largely demobilised, completing the successful handover to the operation’s team.
Figure 1: BIOX® processing plant overview
(please refer to figure in the attached release)
Lafigué Mine
The Lafigué processing plant achieved its first gold pour on 28 June 2024 and commercial production was achieved on 1 August 2024, approximately one month after the first gold pour.
All circuits are operating in-line with expectations and during August, 241kt of ore was processed at a grade of 1.8g/t gold. Processing rates exceeded 7,700 tonnes per day, equivalent to 72% of nameplate capacity and overall plant availability was above 87% with average gold recovery rates above 95%.
During July and August, the throughput rate, plant availability and recovery rates exceeded our commercial production criteria for a period of at least 30 days and the project’s construction team completed the handover to the operation’s team.
Figure 2: Lafigué processing plant overview
