Endeavour Mining has started the construction of the $448m Lafigué gold project on the Fetekro property in the Côte d’Ivoire.
Based on the recently completed definitive feasibility study (DFS), the project is expected to have an average production of 203,000oz of gold per year and more than 12.8 years of mine life.
Endeavour president and CEO Sebastien de Montessus said that the Lafigué project would become the firm’s cornerstone asset, which would improve the group’s geographical diversification.
Montessus said: “We are ideally positioned to launch the construction of Lafigué, given our net cash position, the continued strong performance of our operations, and our success in de-risking the Sabadola-Massawa Expansion with a significant portion of the capital already committed on budget. Moreover, we are seeing reduced inflationary pressures and favourable foreign exchange rates compared to earlier in the year.”
The DFS recommends the development of a 4Mtpa carbon-in-leach plant to process the ore from the Lafigué open-pit mine.
Production from the Lafigué project is planned to start early in the third quarter of 2024.
Endeavour has an 80% ownership interest in the Lafigué Project, as well as a 100% stake in the remainder of the Fetekro exploration licence.
The Lafigué open pit is planned to be developed in six stages with a mining capacity of up to 55Mpta.
Endeavour exploration and growth executive vice-president Patrick Bouisset said: “To continue to source our projects organically, we have increased our greenfield exploration efforts, which, over recent months, have resulted in significant success at our Tanda-Iguela property in Côte d’Ivoire, where we expect to publish a maiden resource later this year.”