WAF secures mining permit for Toega open-pit gold deposit
The West African Resources (WAF) has announced to have received the green light to begin operations at the Toega open-pit gold deposit in Burkina Faso. The permit, recommended by the Burkina Faso Council of Ministers, will be valid for an initial eight-year period.
Permit approval
This permit is the final significant operating permit required to initiate mining at the Toega deposit. It will be issued to a company 90% owned by WAF and 10% by the state, adhering to the country’s Mining Code. The Toega gold deposit boasts substantial resources, with 1.27 million ounces (oz) and reserves of 569,000oz. It is anticipated to supply eight years of ore feed to WAF’s Sanbrado process plant, with mining operations slated to commence in 2025.
Prior to this, in 2023, WAF obtained the environmental permit following the government’s review and acceptance of the Environmental and Social Impact Assessment and Resettlement Action Plan. Additionally, on the same day as the Toega permit recommendation, the Council of Ministers proposed the renewal of the Sanbrado mining permit for another five years.
The Sanbrado gold project is expected to produce between 190,000oz and 210,000oz of gold in 2024, with an All-In Sustaining Cost of less than $1,300/oz. Over the next decade, Sanbrado’s annual gold production is projected to average more than 210,000oz, increasing to over 230,000oz per annum with the integration of the Toega open-pit project and the projected M5 South underground operations from 2026.
Richard Hyde, the executive chairman and CEO of West African Resources, expressed confidence in the company’s ability to operate effectively and sustainably in Burkina Faso, delivering on its business strategy. Hyde emphasized the economic benefits that mining at Toega would bring to Burkina Faso and the surrounding communities, including taxes, jobs, and other positive impacts.
Hyde outlined WAF’s commitment to advancing its strategy, including the development of the Kiaka gold project, which is progressing on schedule and on budget. He stated the company’s ambition to double its annual gold production to over 400,000oz per year by 2025, leveraging the progress made with the Toega mining permit and other strategic initiatives.
