UK-based mining company Endeavour Mining has commenced construction on the Lafigue gold project on the Fetekro property in Côte d’Ivoire, which involves an upfront capital cost of $448 million.

First gold pour from the Lafigue gold mine is expected to take place in early Q3-2024

Construction of the Lafigue gold project has been started following the release of a definitive feasibility study (DFS), which outlined a 12.8-year initial mine life for the gold project in Côte d’Ivoire with an annual production of 203koz.

Sebastien de Montessus — Endeavour Mining President and CEO said: “We are very pleased to launch the construction of Lafigue as it will become another cornerstone mine for Endeavour while continuing to enhance our geographic diversification.

“Lafigue is expected to improve the quality of our portfolio, given its attractive production profile of approximately 200,000 ounces per year at an industry-low AISC of $871per ounce over its initial 12.8-year mine life, with robust project economics.

“Moreover, we are excited by its exploration potential as we have confirmed mineralization at several targets in close proximity to the Lafigué deposit.”

Endeavour Mining owns an 80% stake in the Lafigue gold project, which will include an open pit mine and an upsized 4Mtpa carbon-in-leach (CIL) plant capacity to process the ore.

The Lafigué gold deposit is found in the northeast part of the Fetekro exploration permit, which is 100% owned by the company.

The gold project in Côte d’Ivoire benefits from the existing infrastructure, including sealed roads and power.

SODEMI, the Ivorian state-owned mining company, and the Government of Côte d’Ivoire own a stake of 10% each in the Lafigue gold project.

Patrick Bouisset — Endeavour Mining Executive Vice President Exploration and Growth said: “The Lafigué discovery is a great example of how we can create significant value. For a modest exploration investment of $31 million, which represents a discovery cost of $12/oz, we have added a new cornerstone asset to our portfolio.

“To continue to source our projects organically, we have increased our greenfield exploration efforts, which, over recent months, have resulted in significant success at our Tanda-Iguela property in Côte d’Ivoire, where we expect to publish a maiden resource later this year.”

  Côte d’Ivoire, Endeavour Mining, Fetekro property, gold, Lafigue mine, Patrick Bouisset, Sébastien de Montessus, SODEMI