The World Gold Council has welcomed Teranga Gold Corp and Endeavour Mining Corporation as its newest board members.
David Harquail (pictured), Chair of the market development organisation for the gold industry, said: “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.”
Teranga is a Canada-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, according to the WGC.
Since its initial public offering in 2010, Teranga has produced more than 1.6 Moz 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 is an intermediate gold producer with a track record of operational excellence, project development and exploration in the Birimian greenstone belt in West Africa, WGC said.
Endeavour operates four mines across Côte d’Ivoire (Agbaou and Ity) and Burkina Faso (Houndé, Karma) which are expected to produce 615-695,000 oz in 2019 at an all-in sustaining cost of $760-810/oz.
Sébastien De Montessus, CEO and President of Endeavour, 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.”
Richard Young, President and CEO, Teranga Gold, said: “For more than 30 years, the World Gold Council has supported greater understanding of gold’s enduring value and global influence. Today, at a time of both uncertainty and unprecedented opportunity, the work of organisations such as the World Gold Council is of paramount importance.”