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The Drilldown: Endeavour Mining to prioritize gold mines in Africa


iPolitics
By iPolitics. Published on Mar 2, 2021 12:08pm
(Pexels photo)
The Lead 
Endeavour Mining Corp., a Canadian gold company, is switching its focus to developing new mines in the African continent. The group will not be making new acquisitions anytime soon after buying two mining firms in the past year: Semafo Inc., based in Montreal, and Teranga Gold Corp., headquartered in Toronto, which provides Endeavour with mining operations across West Africa.
CEO Sébastien de Montessus has stated he wants to foster “organic growth in six gold mines across Ivory Coast, Senegal and Burkina Faso.”
“Some people say, ‘He did two M&A deals, this is an M&A junkie.’ No. I’m just trying to do the right thing for our shareholders,” de Montessus added told Reuters. Moreover,  growth “will be driven by assets the company already owns, with management targeting output of 1.4 million to 1.5 million ounces this year.” ....

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