The World Gold Council, the market development organisation for the gold industry, has welcomed Teranga Gold Corporation and Endeavour Mining Corporation to its Board of Members.
Teranga is a Canadian-based gold company focused on production and development as well as the exploration of approximately 6,000 km2 of land located on prospective gold belts across West Africa. Since its initial public offering in 2010, Teranga has produced more than 1.6 million ounces of gold at its flagship operation in Senegal. Focused on diversification and growth, the Company is advancing construction of its second producing gold mine, located in Burkina Faso, as well as carrying out exploration programmes in Côte d’Ivoire, Burkina Faso and Senegal.
Endeavour Mining Corporation is an intermediate gold producer with a track record of operational excellence, project development and exploration in the Birimian greenstone belt in West Africa. Endeavour operates four mines across Côte d’Ivoire (Agbaou and Ity) and Burkina Faso (Houndé, Karma) which are expected to produce 615-695koz in 2019 at an AISC of $760-810/oz.
David Harquail, Chair of the World Gold Council, commented: “I am pleased to welcome Endeavour Mining Corporation and Teranga Gold Corporation to the World Gold Council. Both companies play an important role in the production and exploration of gold across West Africa and bring with them a wealth of experience that will be of significant value.”
Sébastien De Montessus, Chief Executive Officer and President of Endeavour Mining Corporation, said: “We are very pleased to be joining the World Gold Council. We share the organisation’s belief in the importance of setting global standards to reinforce trust and transparency in the sector and across the whole value chain. We look forward to working with the Council and its members to improve understanding of the gold industry.”
“For more than 30 years, the World Gold Council has supported greater understanding of gold’s enduring value and global influence,” said Richard Young, President and CEO, Teranga Gold. “Today, at a time of both uncertainty and unprecedented opportunity, the work of organisations such as the World Gold Council is of paramount importance. I am honoured to be named to the council’s Board of Directors and, on behalf of Teranga Gold, I look forward to contributing to the council’s important work.”
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ENDS
For further information please contact:
Stephanie Mackrell
World Gold Council
T +44 20 7826 4763
E [email protected]
Kate Savage
Edelman
T +1 416 607 4507
E [email protected]
Trish Moran
Teranga Gold Corporation
T +44 20 7826 4763
E [email protected]
Martino De Ciccio
Endeavour Mining Corporation
T + 44 203 011 2706
E [email protected]
Note to editors:
World Gold Council
The World Gold Council is the market development organisation for the gold industry. Our purpose is to be the global authority on the gold market, provide industry leadership, and stimulate and sustain demand for gold.
We develop gold-backed solutions, services and products, based on authoritative market insight and we work with a range of partners to put our ideas into action. We provide insights into the international gold markets, helping people to understand the wealth preservation qualities of gold and its role in meeting the social and environmental needs of society.
The membership of the World Gold Council includes the world’s leading and most forward thinking gold mining companies.
About Endeavour Mining Corporation
Endeavour Mining is a TSX listed intermediate African gold producer with a solid track record of operational excellence, project development and exploration in the highly prospective Birimian greenstone belt in West Africa. Endeavour is focused on offering both near-term and long-term growth opportunities with its project pipeline and its exploration strategy, while generating immediate cash flow from its operations.
Endeavour operates 4 mines across Côte d’Ivoire (Agbaou and Ity) and Burkina Faso (Houndé, Karma) which are expected to produce 615-695koz in 2019 at an AISC of $760-810/oz. For more information, please visit www.endeavourmining.com
About Teranga
Teranga is a multi-jurisdictional West African gold company focused on production and development as well as the exploration of approximately 6,000 km2 of land located on prospective gold belts. Since its initial public offering in 2010, Teranga has produced more than 1.6 million ounces of gold at its Sabodala operation in Senegal. Focused on diversification and growth, the Company is advancing construction of its second producing gold mine, Wahgnion, which is located in Burkina Faso, as well as carrying out exploration programs in three West African countries: Burkina Faso, Côte d’Ivoire and Senegal. The Company had more than 4.0 million ounces of gold reserves as of June 30, 2018. Teranga applies a rigorous capital allocation framework for its investment decisions to execute on its growth strategy relying on a combination of cash on the balance sheet, free cash flow from operations and debt.
Steadfast in its commitment to set the benchmark for responsible mining, Teranga operates in accordance with the highest international standards and aims to act as a catalyst for sustainable economic, environmental, and community development as it strives to create value for all of its stakeholders. Teranga is a member of the United Nations Global Compact and a leading member of the multi-stakeholder group responsible for the submission of the first Senegalese Extractive Industries Transparency Initiative revenue report.
