The Ity mine is one of Endeavour’s cornerstone assets, where the goal is to sustain production above 250koz/year over a +10-year life of mine at an industry-leading AISC.

Key stats

324koz

2023 Production

$809/oz

2023 AISC1

270 koz – 300 koz

2024 Production guidance

$850/oz – $925/oz

2024 AISC1 guidance

1. This is an alternative performance measure (non-GAAP measure). Please refer to the Alternative Performance Measures sections in the Annual Report 2023 Financial Review for definitions and reconciliations of alternative performance measures to IFRS.

Ity mine

Ity has the longest operating history of any gold mine in Côte d’Ivoire. The first gold pour occurred in 1991 and the mine has produced more than 1.4Moz of gold since. Endeavour acquired the Ity mine in 2015, later increasing its stake to 85% in 2018 when the CIL plant was built.

At the Ity mine, Endeavour is advancing its optimisation initiatives, while exploration continues to delineate high-grade resources through near-mine exploration.

Ity mine

Key facts

Ownership

85% Endeavour, 10% Government of Côte d’Ivoire, 5% SODEMI

Mining method

Open Pit/Contractor Mining

Production start date

2019 for the CIL Plant

Processing Technology

CIL Plant

Expected mine life

+12 years

Workforce

Approximately 940

Location

Portfolio map
Ity mine
Houndé mine
Mana mine
Sabodala-Massawa mine
Lafigué mine
Tanda Iguela project
Kalana project
Houndé exploration
Ity exploration
Mana exploration
Sabodala-Massawa exploration
Lafigué exploration
Siguiri exploration
Regional office
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Côte d'Ivoire
Ity mine
The Ity mine is located in western Côte d'Ivoire, 480 km west-northwest from Abidjan, in the prefecture of Zouan-Hounien.
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Burkina Faso
Houndé mine
The Houndé mine is one of Endeavour’s cornerstone assets, where the goal is to sustain production above 250koz/year over a +10-year life of mine at an industry leading AISC.
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Burkina Faso
Mana mine
The focus at Mana is to increase the mine life to more than 10 years, through the expansion of the underground deposits and evaluating local open pit targets.
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Senegal
Sabodala-Massawa mine
The Sabodala-Massawa mine is one of Endeavour’s cornerstone assets and recently underwent an expansion which will elevate it to top-tier status with a targeted production of above 400koz/year at an industry leading AISC.
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Côte d'Ivoire
Lafigué mine
The Lafigué mine poured first gold at the end of Q2 2024 and is Endeavour’s newest cornerstone mine. The goal at Lafigué is to produce over 200koz per year at an industry leading all-in sustaining cost of approximately $900/oz for at least 13 years.
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Côte d'Ivoire
Tanda Iguela project
At the Tanda-Iguela greenfield property Endeavour has delineated a 4.5Moz Indicated resource at 2 g/t Au for the Assafou deposit, demonstrating its Tier 1 asset potential and ranking as one of the most significant discoveries made in West Africa over the last decade.
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Mali
Kalana project
The Kalana project, acquired in 2017, is located approximately 250 km south of Bamako, the capital city of Mali. A positive pre-feasibility study (“PFS”) was published in February 2021.
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Burkina Faso
Houndé exploration
The Houndé Mine looks to meet the target of discovering 3.0 to 4.0 million ounces of Indicated resources over the next five years at a discovery cost of less than $19/oz.
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Côte d'Ivoire
Ity exploration
Endeavour has established a five year discovery target of 3.5 – 4.5 million ounces of Indicated resources at a discovery cost of less than $17/oz at Ity.
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Burkina Faso
Mana exploration
The primary objective is to increase the mine life to 10 years, and Endeavour sees considerable additional opportunity remaining with the five year discovery target for Mana now set for 1.0 to 1.5 million ounces of Indicated resources at a discovery cost of less than US$30/oz.
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Senegal
Sabodala-Massawa exploration
Endeavour has established a target to discover between 2.3 and 2.7 million ounces of Indicated resources at a discovery cost of less than $26/oz over the next five years.
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Côte d'Ivoire
Lafigué exploration
Lafigué is a greenfield discovery where over 3Moz of M&I resources have been discovered since Endeavour commenced drilling on the asset in 2018. Given the strong exploration potential, Endeavour is targeting the discovery of 1.2 – 1.8Moz of Indicated resources over the 2021 and 2025 period.
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Guinea
Siguiri exploration
The Siguiri exploration licenses are located in northwest Guinea, located next door to AngloGold’s Siguiri Mine.
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Côte d'Ivoire
Regional office
Our regional hub for the company is located in the port city of Abidjan. Route du Lycée Technique, Abidjan, Côte d'Ivoire, 08 BP 872

Timeline

1970

First resources found by BRGM

1991

First gold pour by BRGM

1997

BRGM purchased by Normandy

1999

COMINOR created to receive Normandy African Assets, including participation in SMI

2000

COMINOR purchased by AREVA (ex COGEMA)

2006

COMINOR transferred to La Mancha through RTO

2012

La Mancha purchased by N. Sawiris

2014

La Mancha increased its stake to 55%

2015

Integration of SMI in Endeavour

2016

Feasibility Study on CIL Project

2017

Endeavour increased its stake to 80%

2018

Endeavour increased its stake to 85%

2019

Commercial production achieved from CIL

2021

Mining commenced at the Le Plaque deposit

2022

Recyn initiative launched

Exploration potential

Control of Ity Belt

The success of Endeavour's near-mine exploration programme, discovering more than 3.0 million ounces in the last five years, was the catalyst to upgrade the small-scale heap leach operation into a larger CIL plant. Endeavour has established a five year discovery target of 3.5 – 4.5 million ounces of Indicated resources at a discovery cost of less than $17/oz at Ity. Exploration efforts in the near term will be focused on Le Plaque South, the Yopleu-Legaleu extension, the new discovery West Flotouo, Daapleu Deep, and on the area located at the junction between Bakatouo and Walter deposits.

West Flotouo targets

A full geological re-interpretation of the area led Endeavour to aggressively drill the West Flotouo target, leading to the extension and discovery of a series of continuous high-grade mineralised lenses now hosting 582 koz at a grade of 2.0g/t gold, located in the immediate proximity of the Ity plant.

Le Plaque targets

At Le Plaque, the area is open both laterally and at depth in the Delta extension area. The recently drilled Yopleu-Legaleu area has also delivered some promising drill results. Very positive deep drilling was conducted at Daapleu, with results confirming that mineralisation continues at depth and now extends at least 300 metres down-dip of the deepest current pit design.

Operational data FY-15 FY-16 FY-17 FY-18 FY-19 FY-20 FY-21 FY-22 FY-23
Mining
Waste - open pit (kt) 311 4,916 5,237 2,901 8,320 14,898 17,044 16,902 21,101
Ore mined - open pit (kt) 64 1,186 1,410 1,127 5,733 8,571 7,906 7,044 6,790
Processing
Ore mined - open pit (kt) 71 1,173 1,194 1,307 3,693 5,353 6,248 6,351 6,714
Grade (g/t) 2.39 2.20 1.85 2.49 1.88 1.57 1.67 1.80 1.63
Recovery (%) 81 93 83 81 86 79 80 85 92
Production (oz) 5,689 75,867 59,026 84,832 190,438 212,812 271,832 312,517 323,811
Cash cost details
Cash cost per ounce sold (US$/oz) 550 606 733 646 557 764 750 769 777
All-in sustaining costs (US$/oz) 683 756 906 719 616 807 836 812 809

Operating performance 

Key metrics FY-17 FY-18 FY-19 FY-20 FY-21 FY-22 FY-23
Safety and health
Fatalities 0 0 0 0 0 1 0
Lost Time Injuries 2 0 2 3 0 0 0
Energy
Energy consumption (GJ) 404,982 738,346 946,411 1,446,685 1,428,339 1,516,540 2,016,732
Energy intensity (GJ/oz of production) 6.9 8.7 4.9 6.8 5.3 4.9 6.2
Emissions
GHG emissions (tCO2e) 52,198 51,863 51,628 80,218 88,262 107,408 258,483
GHG emissions intensity (tCO2e/oz of production) 0.9 0.6 0.3 0.4 0.4 0.5 0.8
Water
Water withdrawal (ML) 953 12,014 7,161 8,472 1,862 2,513 2,959
Water withdrawal Intensity (ML/oz of production) 0.02 0.14 0.04 0.05 0.01 0.01 0.01
Water consumption (ML) 175 5,099 1,755 8,472 1,862 2,552 1,007

ESG performance

Our approach (to ESG)

Presentations and technical reports

Title Document
2022 Ity Site Visit View
2020 Technical Report View
2016 Technical Report View
2015 Technical Report View
Title Document
2022 Ity Site Visit View
2020 Technical Report View
2016 Technical Report View
2015 Technical Report View
On a 100% basis. Resources shown inclusive of reserves Tonnage
(Mt)
Grade
(Au g/t)
Content
(Au koz)
Proven reserves 10.8 0.81 282
Probable reserves 36.3 1.77 2,067
P&P reserves 47.2 1.55 2,349
Measured resource (incl of reserves) 11.3 0.80 291
Indicated resources (incl of reserves) 78.2 1.68 4,231
M&I resources (incl of reserves) 89.5 1.57 4,522
Inferred resources 16.4 1.60 844

Current at December 31, 2023

Reserves and resources