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TSX-listed mining companies Dundee Precious Metals and Teranga Gold Corporation have been included in the Toronto Stock Exchange’s TSX30 for 2020 in recognition of the their strong three-year share price performance.

Both Dundee, which operates the Tsumeb smelter, a complex copper concentrate processing facility located in Namibia, and Teranga, which owns the Sabodala gold operation in Senegal and the Wahgnion gold mine in Burkina Faso, made it into the top 10, ranking at number eight and nine, respectively.

Read more: Teranga Gold Corporation: Poised for growth in West Africa

The TSX30 is an annual sector-agnostic ranking of the top 30 performers on the TSX over a three-year period based on dividend-adjusted share price appreciation.

 “We are very proud to be included in the TSX30 alongside the top performers on the Toronto Stock Exchange,” said Dundee Precious Metals President and CEO David Rae.

“Our performance reflects many years of hard work focused on successfully delivering capital projects, driving innovation at our operations and establishing ourselves as a trusted partner in the communities where we operate. With a growing gold production and free cash flow profile, we are committed to continuing to deliver strong returns for our shareholders as we demonstrated earlier this year through the introduction of a quarterly dividend,” Rae added.

Meanwhile, Teranga, which ranked ninth, saw its share price appreciate by approximately 250% between June 30, 2017 and June 30, 2020, driven by its transformation into a multi-asset, low-cost, mid-tier gold mining company as well as strong gold prices.

Over the three-year period, Teranga achieved record production at its Sabodala mine; created a top-tier gold mining complex through its acquisition of the Massawa gold project, one of the highest-grade undeveloped open-pit gold deposits in Africa; advanced Wahgnion from an exploration project to the company’s second fully-operating mine; and developed a strong organic exploration pipeline for future growth.

Commencing in 2021, and for the next five years, Teranga expects to produce an average of more than 500 000 ozpa of gold at among the lowest costs in the industry, resulting in significant cash flow for ongoing investment and growth.

“We are proud of what we have accomplished at Teranga and are even more excited about the future as we are just getting started,” says Teranga Gold President and CEO Richard Young. “Skilled people, supportive communities and an award-winning sustainability program, together with long-life mines and a pipeline of organic growth assets are helping us achieve our low-cost, mid-tier ambition in West Africa, one of the world’s leading gold jurisdictions.”

To mark the occasion, Young, together with Trish Moran, VP of investor relations and corporate communications, joined its fellow corporate honourees and the TMX Group to virtually open the market on 16 September 2020.

“We are especially proud to present the 2020 TSX30, an important means of showcasing some exciting issuer success stories across our market,” said Loui Anastasopoulos, President, Capital Formation, TMX Group.

According to Loui Anastasopoulos, President of capital formation at the TMX Group in a year fraught with challenges for so many businesses, the crucial role publicly-listed companies play in the Canadian economy is even more amplified. These companies serve as engines of growth; creating jobs, generating returns and creating value for investors.

To learn more about the TSX30 annual ranking, visit www.tsx.com/tsx30