Companies Endeavour and Teranga Gold announced this Monday, November 16 their merger for a merger that they will finalize in the coming months. Indeed, the two companies have entered into an association leading to the birth of a “gold champion”.
In the gold sector, the future group that will result from this merger will be one of the top ten gold producers in the world, with very low production costs among the best in the sector ”.
The two companies which held a press conference by videoconference on Monday at 13:30 GMT stressed that “such an association will lead to the creation of 7000 jobs, eight production mines and six development projects in Burkina Faso, in Côte d ‘Ivory and Senegal’.
In fact, the new company will become the number one gold producer in these countries with an annual production of 1.5 million ounces, or nearly 43 tonnes of gold. It will have the largest exploration portfolio in West Africa with a strategic position on the Massawa, Ity and Hounde belts, they said.
It should be noted that: “Sabodala-Massawa, Senegal’s largest commercial gold producer, will become a flagship asset alongside Ity and Hounde, with the possibility of becoming a leading asset due to its high grade, low cost, long life, large reserves and significant exploration potential ”.