Teranga Gold Corp. Finds Abundance Of Gold In West Africa
West Africa produces nearly as much gold as is produced in North America. Which back in the early 90s I never thought I would make that statement and there’s a lot more to come. Our flagship property produces a little more than 200 thousand ounces of gold per year. We’ve got a development project that potentially could increase production to that half a million ounce mid-tier status over the next five years.
A Canadian-based gold mining company which operates the Sabodala Gold mine. The only gold mine and mill in Senegal, West Africa. The Company is focused on continued growth through high return growth initiatives on its 291km2 mine license and highly prospective regional exploration package. Of approximately 1,000km2 situated on an emerging gold belt.
Holding exploration properties in three jurisdictions on more than 5,000km2 of land. Located on prospective gold belts in West Africa, one of the world’s fastest growing regions for gold production.
Located approximately 650km southeast of Dakar, the capital of Senegal. Sabodala has been in operation since 2009. Teranga’s mine license and regional land package are situated on the West African Birimian greenstone belt. Which straddles the border of Mali where approximately 52 million ounces of gold resources have been discovered to date.
The acquisition of Gryphon Minerals in 2016
Provided the Teranga with three assets in Burkina Faso, including the fully permitted Banfora development project. As well as two prospective exploration properties – Golden Hill and Gourma. Further, in 2016 the Company entered into an exploration agreement covering a large land package in Côte d’Ivoire.
With the recent addition of these positions, multi-jurisdictional exploration is a key priority of Teranga’s diversification and scale strategy. For 2017, the Company has committed to investing approximately $15 million in exploration activities over its most prospective properties. The majority of the exploration budget will be divided between Senegal and Burkina Faso, which have the most advanced prospects to date.
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