Deal #8747

Land area

Intended size

89 080 ha

Size under contract (leased or purchased area)

[2014, current] 89080 ha

Size in operation (production)

[2022, current] 518 ha

Comment on land area

The Project consists of the Wahgnion ML comprising an area of 89.08 km2 and five exploration permits totaling approximately 933.28 km2 Area in operation is 518 ha from the shapefile added

Intention of investment

[current] Mining

Nature of the deal

Exploitation permit / license / concession (for mineral resources)

Negotiation status

[2014, current] Concluded (Contract signed)
[2016] Concluded (Change of ownership)
[2021] Concluded (Change of ownership)

Comment on negotiation status

Wahgnion Mining License was granted in August 2014. Since then, the owner has changed twice.

Implementation status

[2019, current] In operation (production)

Comment on implementation status

First gold pour in August 2019, commercial production was declared in November 2019

Leasing fees

Comment on leasing fee

Surface tax: Mine Licence – CFA 7,500,000 per km2 for 1st five years, CFA 10,000,000 per km2 for years 6-10, and thereafter CFA 15,000,000 per km2. Applying the above surface tax rates required to keep the Wahgnion ML in good standing, this translates into an annual holding cost of CFA 668,100,000, or approximately $1.1 million until 2019. Thereafter, the surface tax rate is set to increase and the annual cost will rise to approximately $1.5 million from 2020 to 2024, and $2.2 million thereafter, assuming the same mine licence perimeter size.