SEMAFO in action – its
Mana operation has
opened in Burkina Faso
 
Ouagadougou, Burkina Faso — MININGREVIEW.COM — 03 July 2008 – The West Africa state of Burkina Faso has formally opened its third gold mine in a year – the opencast Mana facility operated by Toronto-listed SEMAFO.
 
The Mana mine – inaugurated on this week – is situated 270 km northwest of the Burkina Faso capital. Reuters reports from here that local officials say it is expected to produce 3.6 tonnes of gold per year.

“Exploitation of the Mana mine will bolster the state’s budget by an average of US$37.3 million (R300 million) per year, in mine royalties and taxes, to which dividends will be added,” mines, quarries and energy minister Abdoulaye Abdoulkader Cisse told reporters.

The Mana mine – where SEMAFO’s exploration in 1998 discovered estimated reserves of some 35 tonnes – has already produced 400 kg of gold since 31 March 2008. Now officials are saying that recent exploration suggests total reserves could reach as high as 100 tonnes.

Over the last year, Burkina Faso has already started up two other gold mines – Taparko-Bouroum, majority owned by Canadian-listed High River Gold Mines Limited, and Youga, operated by Toronto-listed Etruscan Resources Incorporated .

Reuters quotes the government of Burkina Faso as having said last October that the country aimed to produce 15-20 tonnes of gold a year by 2009 as new mines came on line. The agency reports that another gold mine should open in Kalsaka in October, while a zinc mine at Perkoa is scheduled to open at the end of next year.