Burkina Faso: Revenues from the Sanbrado mine rise by 9

Australian mining company West African Resources has announced exceptional results for 2024, with revenues of $477 million. This performance was made possible by the sale of 199,550 ounces of gold from its flagship Sanbrado mine in Burkina Faso.

The mine's annual production peaked at 206,622 ounces of gold, close to the upper limit of the Australian group's forecasts. This performance is all the more remarkable given the significant rise in gold prices.

In 2024, the price of gold rose by around 30%, reaching all-time highs. West African Resources benefited from this rise, recording an average selling price of $2,391 per ounce, compared with $1,944 in 2023. This price increase has made a significant contribution to the company's sales growth.

The Sanbrado mine also generates direct economic benefits for Burkina Faso. The government receives 10% of the profits from the mine, in line with its free stake in the project, while West African Resources retains the remaining 90%.

With these record results, the company reaffirms its position as a leader in gold mining in West Africa. Sanbrado's performance underlines the region's mining potential and the importance of gold to Burkina Faso's economy.