SENEGAL'S MINING RESOURCES

The mining sector can become a major pillar of Senegal’s development. The country is a source if world-class deposits and operators are finding deposits of gold, iron ore and phosphates. According, to Mr. Alex Mackenzie, Executive Chairman of Bassari Resources, “If you drill in Senegal, you will find Gold.”

  • Senegal’s extractive sector contributed almost 90 million USD to the economy in 2013 with the mining sector contributing over USD 80 million.
  • Senegal is one of the world’s largest producer of phosphate and the rate of production has grown by 67% (year on year) in 2016 and is expected rise more, estimating to reach about 2,000,000 tonnes.
  • The country’s largest gold mine, Sabodala has extended its life plan to 14 years. Between 2018 and 2022, the gold min’es production is expected to rise by 20% to more than 1 Moz generating a total of $230 million in free cash flow.
  • Senegal is also a region of vast untapped gold reserves. Bassari Resources has identified some 30 gold anomalies in the under-explored Senegal Birimian greenstone gold belt in West Africa. The company is currently focused on the development of its flagship Makabingui Gold project, with a targeted production date of early 2018.
  • The southern part of Senegal is also rich in iron-ore with an estimated 750 million tonnes of reserves and the government is actively working on expanding this area of mining to diversify its mining industry.
  • The Grand Cote Project, since 2014 has been in full production and further discoveries have extended the mine’s life to 2043. It is estimated that on a yearly basis, 50M tons of sand will be extracted resulting in 95,000 tons of zircon, 15,000 tons of rutile and leucoxene and 570,000 tons of ilmenite. The Grande Côte mineral sands operation (GCO) is the largest single dredge mineral sands operation in the world.
  • Deposits of heavy minerals, zircon and titanium in the littoral zone called “The Grand Coast” will represent 8% of the worldwide total and 25% of the consumption of the European market.

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