Breaking News

Tweet TWEET

Burkina Faso Expects Gold Production to Rise 32% in 2011, Association Says

Burkina Faso expects gold production to rise 32 percent to 33.74 metric tons this year as mines expand, Elie Justin Ouedregao, president of the country’s Professional Mining Association said.

Production will rise from 25.6 tons last year and 11.73 tons in 2009, he said in an interview in Ougadougou, the country’s capital. The association represents mining companies operating in the country.

Societe Des Mines De Taparko, a unit of Toronto-based High River Gold Mines Ltd., will produce 4.25 tons of the metal this year compared with 3.92 tons last year, he said. The Essakane mine, owned by Toronto’s Iamgold Corp., will more than double output to 13.11 tons from 5.7 tons while the Youga mine, controlled by Cayman Islands-based Endeavour Mining Corp., will boost production to 2.65 tons from 2.47 tons, he said.

Production at the Belahouro mine, owned by London’s Avocet Mining Plc, will be little changed at 5.29 tons while production at Kalsaka, a mine owned by London-based Cluff Gold Plc, will fall to 2.28 tons from 2.63 tons, he said. There are other gold mines in the country.

To contact the reporter on this story: Simon Gongo in Ougadougou via Johannesburg at asguazzin@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin in Johannesburg at asguazzin@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.