Morocco’s Managem Group has announced that Tri-K gold mine in Guinea, in Mandiana region, poured its first gold on June 23, 2021, following the completion of construction works. Tri-K mine consolidates the group’s presence in the Republic of Guinea and it said “supports its determination to position itself among the largest intermediate gold producers in West Africa.”
With an updated reserve totalling over 1.5 Moz of gold, Tri-K is one of the largest operations of Managem Group in the gold business. Tri-K mine’s construction work was carried out under the supervision of Reminex, a subsidiary of Managem Group and will produce 130,000 oz of gold per year, with an estimated cash cost of $600 to $700/oz. Tri-K gold mine is located 90 km northeast of Kankan in Guinea, in an exploration area of 473 km². The current mining reserves stand 1,565,000 oz with the mining method being open pit and the processing method carbon in leach (CIL). The currrent expected life of mine is 12 years with 800 direct jobs and 1,500 indirect jobs.
The group is carrying out an extensive exploration program in order to bring additional reserves to the portfolio and extend the life of mine. Imad Toumi, Chairman and CEO of Managem Group said: “The first gold bar poured at Tri-K is an important milestone in strengthening our gold strategy in Africa. I would like to congratulate all of the team, in Guinea and Morocco, who made this flagship mine a reality, they remained motivated and committed despite the difficulties caused by the COVID-19 pandemic. Tri-K mine is a testament to the expertise and opera-tional excellence of all our teams, as well as the support of local communities.”
Toumi adds: “I would like to express my warm gratitude to the Guinean Ministry of Mines and Geology, to the local authorities of Mandiana region, as well as to SOGUIPAMI, for their commitment and their support to the achievement of this project. I am glad to count among our mines a new operation with a long lifespan, which will actively contribute to the local development through the Guinean Local Economic Development Fund (FODEL). Managem is proud to contribute positively to the development of the mining industry in Guinea and to position itself as a major player in the local economic dynamics with more than 800 jobs in the long term, while creating shared and sustainable value for our shareholders and all our stakeholders.”
Managem Group is a 85% shareholder of SMM (Société des Mines de Mandiana), the owner of Tri-K mining licenses, in partnership with SOGUIPAMI (Société Guinéenne du Patrimoine Minier). DRA Global-owned SENET was awarded the EPC contract for the Tri-K project in 2019 following the successful completion of the Definitive Feasibility Study (DFS).
