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Clearing o the resettlement site at the Hounde project in Burkina Faso
Endeavour Mining, the TSX-listed gold miner, held a groundbreaking ceremony at its Houndé gold project in Burkina Faso on Thursday.

The ceremony celebrated an important milestone for both Endeavour and the government of Burkina Faso, as Houndé is expected to become the company’s flagship low-cost mine and a prominent mine within the country.

More than 10 000 people attended the ceremony in support of the project, including the President of Burkina Faso, the Prime Minister, the Minister of Energy, Mines and Carriers, numerous other government ministers, officials and diplomats, senior community representatives and members, as well as Endeavour Mining’s executive management, its chairman and Houndé employees.

Hounde
Burkina Faso President Roch Marc Christian Kaboré arriving at the groundbreaking ceremony

Burkina Faso President Roch Marc Christian Kaboré welcomed Endeavour’s decision to make a long-term investment in Burkina Faso.

“This reflects the favourable investment environment that Burkina Faso has created for the mining sector, and is a strong signal of the future health of the gold mining industry in our country,” he said at the ceremony.

He highlighted that the Houndé development would create hundreds of jobs, both directly in mining and also ancillary services, and the associated prosperity will raise living standards throughout the surrounding district.

“With the Houndé project and the (recently acquired) Karma mine, Endeavour Mining is becoming a key partner for our country,” Kaboré noted.

[quote] Also in attendance, Minister of Energy, Mines and Carriers, Alpha Oumar Dissa, said that his department is “extremely pleased” with the advancement of the Houndé project, which demonstrates that the Houndé belt is among the world’s most prosperous gold mining regions.

He continued: “We look forward to continue to work closely with Endeavour and the surrounding communities as they bring this flagship project to life.

Construction at the Hounde project began in April 2016 and is progressing on-time and on-budget with the first gold pour expected during the fourth quarter of 2017.

Once in production, Endeavour’s 90%-owned Houndé project, currently being led by newly-appointed CEO, Sébastien de Montessus, will become the company’s flagship low-cost mine, ranking amongst West Africa’s top tier cash generating mines, with an average annual production of 190 000 oz at an all-in sustaining cost (AISC) of US$709/oz over an initial 10-year mine life based on reserves.

Moreover, in its first four years, the average annual production is expected to be 235 000 oz at an AISC of $610/oz.