Canadian mining company Fortuna Silver Mines has poured the first gold at its Séguéla mine in Côte d’Ivoire, as the mine entered the ramp-up phase.

According to a projection by the company, the mine is expected to produce between 60,000oz and 75,000oz of gold this year, with costs ranging between $880 (C$1,198) and $1,080 an ounce.

Fortuna Silver Mines CEO Jorge A Ganoza said: “Séguéla has produced its first gold, becoming Fortuna’s fifth operating mine. The team at Séguéla has performed phenomenally and delivered on time and on budget, a testament to their professionalism and dedication in bringing this asset from exploration to production.

“Séguéla now enters the ramp-up phase where management plans to achieve a nominal rate of production during the third quarter. Séguéla will be a cornerstone asset in Fortuna’s portfolio for years to come, and we look forward to unlocking the value it brings to all of our stakeholders.”

The Séguéla mine covers 62,000 hectares and includes near-surface Antenna, Koula, Agouti, Boulder and Ancien orogenic lode-style deposits.

There are an additional 22 highly prospective targets within the package.

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By GlobalData

Fortuna Silver decided to proceed with the open-pit gold mine’s construction in September 2021.

The company claims that sustainability has been included as an intrinsic part of the design, construction and operation of the project.

With a nine-year mine life, the Séguéla mine is expected to annually produce 133,000oz of gold in the first six years.

With an estimated $173.5m investment, the mine can yield 3,750 tonnes per day in the third quarter of this year.

Similar to its projection, the mine has become Fortuna Silver’s fifth mine, with first gold pour taking place in the middle of this year.