Gold mining company Nordgold, controlled by the Russian businessman Alexei Mordashov, has launched production at the Bouly deposit in Burkina Faso, the company said in a statement.
The average daily gold production at the deposit is expected at 120,000 ounces during the 10-year development period with all-in sustaining costs of $730 per ounce. The project’s internal rate of return is about 40% given the gold price of $1,250 per ounce.
Bouly is Nordgold’s third asset in the country, and it will increase the company’s combined gold production in Burkina Faso to 400,000 ounces per year after it reaches the projected capacity. (Prime/Ukrainian metal)