- Endeavour Mining Launches Ambitious Plan to Discover 15 Million Ounces of Gold
- Discovery cost of less than $40 per ounce
LONDON, UK – Endeavour Mining PLC announced an ambitious five-year exploration outlook on Tuesday, targeting the discovery of 12 to 15 million ounces of gold resources between 2026 and 2030.
“Our strong track record, highly prospective land packages and high-calibre team give us the confidence to set a new, ambitious exploration target,” said CEO Ian Cockerill in a statement.
The West African gold producer, one of the world’s largest, said it will increase its average annual exploration budget to over $100 million to fund the initiative.
Endeavour See Strong Potential At Sabodala-Massawa Biox And Lafigué Mines
The plan aims to replace depleted resources, extend the life of its existing mines, and identify two to three new major “cornerstone” projects.
This new strategy follows a highly successful period from 2016 to 2025, during which the company discovered 20.7 million ounces of resources, more than doubling its production depletion at a low cost.
Endeavour’s exploration will be split between “brownfield” projects near its current operations in Côte d’Ivoire, Senegal, and Burkina Faso, and “greenfield” exploration in new, underexplored territories.
The company is targeting 6 to 9 million ounces from brownfield sites and another 6 million ounces from greenfield efforts, which will expand beyond West Africa to include the Guiana Shield, the Central Asian Orogenic Belt, and the West Tethyan Metallogenic Belt.
The company stated its goal is to find these new resources at a discovery cost of less than $40 per ounce.
Update: Endeavour Mining, Lilium Gold Settle Boungou, Wahgnion Mine Disputes
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