RE: Article on Senegal (mentions OJVG)
Nice find, ElJoro,
Senegal’s prospects for gold-mining are also growing, with rising prices for precious metals boding well for the sector’s revenues. The country has one producing gold mine in Sabodala within the rich West African Birimian geological belt, while a number of projects, which are set to be launched or expand in 2013, should significantly increase production in the medium term.
The Oromin Joint Venture Group (OJVG), for example, has stepped up its gold exploration in recent years, increasing the volume of resources on its licences to 3.31m ounces of indicated reserves from 2.19m in 2009, and the government’s decision to approve the group’s environmental and social impact study in May has now opened the door for production in 2013. OJVG uncovered six new deposits between 2011 and 2012, including three high-grade and three bulk-tonnage deposits, bringing its total to 14.
Teranga Gold Corporation, a Canada-based firm that took over the Sabodala gold mine following a de-merger from MDL in late 2010, also expects to see production increase in 2013 after investing a total of $50m in 2012 to boost exploration and production capacity. The firm also expects to uncover additional reserves from a project to deepen the Sabodala mine to the north, as well as through the extension of the Masato deposit onto the Mining License (ML).