Expanding Gold Production in West Africa
Orezone Gold has announced a bought deal offering to raise C$35m ($24.5m) to fund the development of the stage two hard rock expansion and exploration at the Bomboré Gold Mine in Burkina Faso, West Africa. The company expects to produce 220,000–250,000oz of gold annually by late 2026, with preliminary cost estimates ranging between $90m and $95m for stage two. The expansion is scheduled to commence in the second half of 2025 and will enhance the hard rock plant's throughput.
- This significant investment in West Africa's gold sector may serve as a catalyst for increased foreign investment in regional mining projects, potentially driving economic growth and job creation.
- How will Orezone's expansion plans at Bomboré Gold Mine impact the global gold market supply dynamics in the next few years?