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Canadian gold miner secures $165M for West African mine
Investment in Africa Canadian miner Teranga Gold has secured $165 million in funding from Taurus Funds Management to launch gold production at its second mine. The Waghnion gold project is lo-cated in Burkina Faso.
"We are very pleased to be partnering with Taurus to deliver on our vision of becoming the next multi-asset mid-tier gold producer in West Africa,” Richard Young, the president and CEO of Teranga Gold, was quoted in a statement.
The Wahgnion mine is expected to increase the company’s annual gold production by 50% to between 300,000 and 350,000 oz following first pour, which is anticipated by the end of 2019, according to Ter-anga Gold.