Endeavour Mining has commenced construction of the Lafigué Project in Côte d’Ivoire, confirming its potential as a cornerstone asset with robust reserves and attractive production economics.

Information on the Target

Endeavour Mining plc, a leading gold mining company, has initiated the construction of the Lafigué Project, located on the Fetekro property in Côte d’Ivoire. The company holds an 80% ownership stake in the project, which has recently completed a Definitive Feasibility Study (DFS) confirming its potential to become a cornerstone asset. The DFS revealed a significant increase in mineral reserves, now totaling 2.7 million ounces (Moz), an increase of 30% compared to previous assessments. The project is designed to support a carbon-in-leach (CIL) plant with a capacity of 4 million tonnes per annum (Mtpa), targeting annual production of approximately 203,000 ounces at a remarkably low all-in sustaining cost (AISC) of $871 per ounce over its 12.8-year mine life.

Construction progress is anticipated, with first gold production projected for early Q3 2024. The Lafigué Project also holds promising exploration potential aimed at discovering additional mineral resources between 1.5 to 2.0 Moz by 2025, further enhancing its strategic importance within Endeavour's portfolio. The project is interconnected with existing infrastructure, making it well-positioned for operations.

Industry Overview in Côte d’Ivoire

Côte d’Ivoire is one of the leading gold producers in Africa, with a rapidly growing mining sector driven by both domestic and foreign investments. The country has gained recognition for its favorable mining policies, geological poten