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Endeavour Mining PLC (LSE:EDV) has successfully commenced commercial production at both the Sabodala-Massawa BIOX Expansion in Senegal and the Lafigué mine in Côte d'Ivoire. These milestones, achieved on schedule and within budget, mark significant progress in the company’s ongoing development strategy. Commercial production began in August.
The Sabodala-Massawa mine’s BIOX Expansion operated at 80% of its nameplate capacity with 94% plant availability during July and August 2024, delivering recoveries exceeding 72%. Similarly, the Lafigué mine demonstrated strong performance, achieving 87% plant availability and operating at 72% of nameplate capacity, with a gold recovery rate of 95% in August 2024.
Endeavour remains aligned with its production goals for the year, while keeping all-in sustaining costs (AISC) within the previously guided range.
CEO Ian Cockerill emphasized the importance of this achievement, noting that it marks a transition into a phase of free cash flow generation, which will allow for enhanced returns. He highlighted the success of de-risking construction and ramp-up activities at both projects, which will support improved operational performance in the latter half of the year. Additionally, these developments contribute to low-cost production, extended mine life, and further diversification of the company's portfolio.
Cockerill also mentioned that the focus will now shift to asset optimization and technical studies, as the company looks ahead to its next growth phase, including the potential construction of the Assafou project starting in 2026.
The Sabodala-Massawa mine, acquired in 2021, processes both non-refractory and refractory ores, with Endeavour holding a 90% stake and the remaining 10% owned by the Government of Senegal. The Lafigué mine is 80% owned by Endeavour, with additional ownership shared between the Ivorian government and a state-owned mining company.
