Moroccan mining company Managem announced that its Tri-K mine in Guinea, in Mandiana region, has poured first gold, following the completion of construction works.
With of life of mine of 12 years, it is expected to produce 130,000 ounces of gold per annum, with an estimated cash cost of $600 to $700 per ounce.
Tri-K is expected to consolidate the company’s presence in the Republic of Guinea and strengthens its position among the intermediate gold producers in West Africa.
With an updated reserve totalling 1.5 million ounces of gold, the mine is one of the Managem’s largest operations in the gold business.
Managem Group chairman and CEO Imad Toumi said: “The first gold bar poured at Tri-K is an im- portant milestone in strengthening our gold strategy in Africa.
“I would like to congratulate all of the team, in Guinea and Morocco, who made this flagship mine a reality, they remained motivated and committed despite the difficulties caused by the Covid-19 pandemic.
“Tri-K mine is a testament to the expertise and opera- tional excellence of all our teams, as well as the support of local communities.”
Tri-K mine to create 800 direct jobs and 1,500 indirect jobs
Covering an exploration area of 473km², the Tri-K gold mine is located 90km northeast of Kankan in Guinea.
Construction works at the mine were supervised by Managem’s subsidiary Reminex. The open pit mine is expected to create 800 direct jobs and 1,500 indirect jobs in long-term.
Managem is conducting an extensive exploration programme at the mine to bring additional reserves to the portfolio and extend the life of mine.
It owns 85% stake in the Société des Mines de Mandiana (SMM), which owns Tri-K mining licences, in partnership with Société Guinéenne du Patrimoine Minier (SOGUIPAMI).
In February, Managem announced a partnership with Wanbao Mining Group, an international mining operator, to jointly develop large-scale gold mining projects in Sudan.
