Moroccan Semafo commences gold mining in Guinea
Morocco's Omnium Nord-Africain (ONA) mining affiliate Semafo recently announced the opening of the Kiniero Gold Mine in Guinea, West Africa. The mine is now fully operational and is expected to produce 60,000 ounces in its first year of operation at a cash cost of $168 per ounce, confirmed a company statement.
Kiniero, previously called the Jean Gobele Gold Mine was built on schedule and under the budget of $12.4 million. It will produce an annual 60,000 ounces from an open pit mine and CIP plant. Further exploration has discovered additional veins in the mine area (Gobele D) and these are being defined. An underground mine is also being studied.
The Montreal-based Semafo Incorporated is a publicly traded mining company listed on the Toronto Stock Exchange. The company explores gold and base metal deposits in West Africa and has two mines in development, Jean Gobele in Guinea and Samira Hill in Niger.
The Company is majority owned by ONA, Morocco's largest private company, providing farm, fish, sugar and milk products as well as edible oils to African markets. ONA exports goods and equipment to other African countries and have operations in hypermarkets, mining exploitation, automobile assembly and sales, real estate and holding companies. — (menareport.com)
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