Endeavour Mining's Sabodala-Massawa expansion project in Senegal valued at $861M

A definitive feasibility study on Endeavour Mining PLC's Sabodala-Massawa gold mine expansion project in Senegal outlined a posttax net present value of $861 million, discounted at 5%, with an internal rate of return of 72% and a payback period of 1.4 years based on a gold price of $1,700 per ounce.

The company said April 4 that the expansion includes a new BIOX processing plant with a capacity for 1.2 million metric tonnes per year, which would supplement the current 4.2 Mt/y carbon-in-leach plant.

The expansion is expected to produce 1.35 million ounces of gold at an all-in sustaining cost of $576 per ounce over the 10-year mine life of the BIOX project, with capital costs pegged at $290 million.

The company plans to begin construction in the second quarter, with first gold pour expected in early 2024.

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