Dynacor targets $1bn in sales with expansion into Africa and Latin America

Dynacor Group Inc., a leading industrial gold ore processor headquartered in Montreal, Canada, has announced aggressive expansion plans across West Africa and Latin America. As part of its strategic five-year growth roadmap, Dynacor is targeting the production of 500,000 gold equivalent (AuEq) ounces and aims to surpass $1 billion in sales by 2030. This ambitious move is designed to diversify the company’s operations beyond Peru, where it has established a strong presence in the artisanal and small-scale mining (ASM) sector.

The company’s growth strategy involves the development of four new gold ore processing plants—three in West Africa (Senegal, Côte d’Ivoire, and Ghana) and one in Latin America. This expansion underscores Dynacor’s commitment to becoming a key player in global gold production while maintaining its focus on sustainable and ethical mining practices.

Why Is Dynacor Expanding Into West Africa and Latin America?

Dynacor’s decision to venture into new jurisdictions is rooted in both opportunity and strategic foresight. The company aims to capitalise on the rich, untapped mineral resources in West Africa while strengthening its established footprint in Latin America. These regions offer vast potential for gold production, driven by supportive government policies, a thriving ASM sector, and increasing global demand for responsibly sourced gold.

In West Africa, the company has identified key growth markets in Senegal, Côte d’Ivoire, and Ghana. These countries not only boast abundant gold reserves but also present a favourable business environment for mining companies. In Latin America, Dynacor is exploring opportunities in Peru and Ecuador, focusing on enhancing operational efficiency and expanding processing capacity.

Dynacor’s expansion strategy aligns with its long-term goal of reducing reliance on a single geography, thereby mitigating risks associated with regulatory changes, political instability, and supply chain disruptions.

How Will Dynacor’s New Processing Plants Drive Growth?

The development of Dynacor’s gold processing plants is a cornerstone of its growth strategy. The company plans to construct four new facilities: three in West Africa and one in Latin America. These plants are expected to significantly boost Dynacor’s processing capacity, enabling it to meet its ambitious production targets.

In Senegal, the company has already initiated the construction of a 50-tonne-per-day (tpd) pilot plant, with completion targeted by the first quarter of 2026. This plant will serve as a model for future facilities in Côte d’Ivoire and Ghana, where preparatory work for environmental impact assessments is underway.

Financially, Dynacor estimates that building a 300-tpd processing plant will cost between $23 million and $25 million, with an additional $7 million to $8 million required for working capital. To support these initiatives, the company recently closed an upsized public offering on February 6, 2025, raising approximately $22 million (CAD 31.6 million). These funds will accelerate Dynacor’s expansion plans, covering both construction costs and operational needs.

The new plants will not only increase production but also enhance efficiency, reduce operating costs, and improve margins. Moreover, by diversifying its processing operations, Dynacor can better manage fluctuations in ore supply and gold prices, ensuring stable revenue growth.

Who Is Leading Dynacor’s Expansion Efforts?

A key factor behind Dynacor’s growth trajectory is its robust leadership team, which has been strategically expanded to support global operations. The company has appointed industry veterans with extensive experience in mining, operations, and business development across Africa and Latin America.

Daniel Misiano, the newly appointed Chief Operating Officer, brings over 30 years of expertise in international business development within the mining services sector, including significant experience in Africa. His leadership is expected to drive operational excellence and strategic growth in new markets.

Martin Houde, Director of Metallurgy, adds another 30 years of experience in industrial operations, construction, and consulting within the mineral processing industry, including nine years working in West Africa. His technical expertise will be instrumental in optimising plant performance and ensuring compliance with environmental standards.

In the area of investor relations, Ruth Hanna has been appointed Director, bringing three decades of experience in financial communications, with a focus on mining companies operating in Africa. Her role will be critical in maintaining strong relationships with investors and stakeholders as Dynacor executes its expansion strategy.

In Latin America, Jorge Luis Cárdenas serves as Vice-President of Business Development. With 30 years of experience in the gold sector, he will spearhead Dynacor’s efforts to identify and capitalise on growth opportunities in Peru and Ecuador.

Local leadership in West Africa includes Mamadou Mbaye, General Manager in Senegal, who has over 25 years of experience in private equity and mining project management, and Benoît Courteau, General Manager in Côte d’Ivoire, who has a strong background in managing mining and industrial projects across Africa.

What Makes Dynacor’s Gold Processing Model Sustainable?

Sustainability is at the core of Dynacor’s gold processing plants. The company’s PX IMPACT gold program promotes environmentally and socially responsible mining practices. Through this initiative, Dynacor partners with firms in the luxury jewellery, watchmaking, and investment sectors that pay a premium for ethically sourced gold. These premiums are reinvested into health and education projects within ASM communities, directly benefiting local populations.

Dynacor’s commitment to sustainability extends beyond its products. The company prioritises environmental stewardship, community engagement, and responsible sourcing practices across all operations. This approach not only enhances its corporate reputation but also ensures long-term operational resilience in an industry increasingly focused on ethical and sustainable practices.

What’s Next for Dynacor in 2025 and Beyond?

Looking ahead, Dynacor’s focus will be on executing its expansion plans efficiently and sustainably. In Senegal, the completion of the pilot plant will pave the way for larger-scale operations. In Côte d’Ivoire and Ghana, the company aims to finalise environmental assessments and begin construction activities.

In Latin America, Dynacor will continue to evaluate opportunities in Peru and Ecuador, with an emphasis on enhancing processing capacity and operational efficiency. The company’s strategic investments in technology, infrastructure, and human capital are expected to drive long-term growth, positioning Dynacor as a global leader in gold ore processing.

With strong financial backing, a skilled leadership team, and a clear vision for the future, Dynacor is well-positioned to achieve its goal of $1 billion in sales by 2030. As the company expands its footprint across Africa and Latin America, it remains committed to creating value for shareholders, supporting local communities, and promoting sustainable mining practices worldwide.