Allied Gold is looking to ramp up its production this year following a shortfall in 2023. The Canadian miner, with aspirations of establishing itself as a mid-tier gold producer in Africa, has set a production forecast in 2024 ranging from 375,000 to 405,000 troy ounces. Meeting the higher end of this target relies on successfully completing a mine contractor transition at its Agbaou operation.
Production Outlook
With three producing assets and development projects in Ivory Coast, Mali, and Ethiopia, Allied Gold anticipates that Agbaou will generate 85,000 to 95,000 ounces of gold this year, a rise from 73,401 ounces in the previous year.
At the Sadiola operation, the company aims to produce between 195,000 and 205,000 ounces compared to 171,007 ounces in 2023. Similarly, Bonikro is expected to yield between 95,000 and 105,000 ounces, up from 99,409 ounces last year.
Focus on Cost Reduction
In its plans for 2024, Allied Gold highlights a key area of focus on cost reduction throughout its asset portfolio. The company intends to unveil a three-year production and cost forecast soon.
Future Projections
Looking ahead, Sadiola's production is set to climb steadily each year with the objective of hitting 230,000 ounces annually. Meanwhile, Bonikro aims for modest annual growth with aspirations to exceed 110,000 ounces per year. Agbaou's gold production is expected to remain steady each year, not dropping below 90,000 ounces annually.
Review of 2023 Production
For the final quarter of 2023, Allied Gold recorded a production of 94,755 ounces, bringing the total for the year to 343,817 ounces – slightly below the target of around 350,000 ounces initially set by the company.
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