In October 2023, Orezone announced a $168 million project to double the Bomboré gold mine’s production capacity in Burkina Faso. Originally planned as one phase, the project will now unfold in two. The initial phase is slated for completion by the close of 2025.
With ambitions to elevate annual gold output in Burkina Faso to 185,000 ounces by 2026, up from the projected 125,000 ounces for the current year, Orezone Gold outlined an $80 million investment toward this objective. This investment is part of an expansion initiative announced in October 2023, primarily targeting the Bomboré mine, the company’s sole gold mine in the country. The expansion entails constructing a new processing plant with an annual capacity of 4.4 million tonnes. However, due to financial constraints, Orezone has opted to allocate half of the originally planned funds, resulting in a plant designed to process 2.5 million tonnes annually.
Orezone aims to finalize construction and commence operations of the new plant by the end of 2025, relying on debt financing from its long-standing partner, Coris Bank, alongside cash flows from the mine. Anticipated production from 2026 is estimated between 170,000 and 185,000 ounces of gold, contrasting with 110,000 to 125,000 ounces in 2024. A subsequent investment will further augment the plant’s throughput to 5 to 7 million tonnes per year, targeting an annual output of 250,000 ounces at Bomboré.
Since September 2022, the Bomboré gold mine has been operational, yielding 141,425 ounces in 2023.
