Our Strategy

Build an ethical, reputable, world-class gold company through a combination of exploration, development and acquisition by focusing on:

Operational Consistency

  • Met annual production guidance for eight consecutive years
  • Ended the year 2015 with a 9% year-on-year increase in ounces produced
  • Advanced timelines twice in order to bring the Siou deposit from discovery to production in 18 months and on budget
  • Took our Natougou project from scoping study to feasibility study in under one year, ahead of schedule and on budget

Quality Pipeline

Our objective is to maintain a steady pipeline of high quality development projects in order to enhance our production base and growth profile as well as to add incremental value to existing assets.

  • As at December 31, 2015, consolidated proven and probable mineral reserves stood at 3,265,000 ounces of gold at 3.32 g/t. Consolidated measured and indicated mineral resources increased by 8% to 2,969,900 ounces. Reserves and resources were estimated using a gold price of $1,100 and $1,400 per ounce, respectively.
  • The Corporation holds an extensive land package of some 7,070 square kilometers, comprising 2,145 square kilometers at Mana, 1,600 square kilometers at Banfora and 3,325 square kilometers over the prospective Houndé, Banfora, Diapaga and Senoufo belts.
  • Our goal is to achieve permitting and construction start-up at Natougou by year-end 2016.

Financial Discipline

  • As at September 30, 2016, cash and cash equivalents totalled $282 million.
  • During the nine-month period ended September 30, 2016, we generated $112 million in cash flow from operating activities at Mana.
  • As at September 30, 2016, long-term debt totalled $57 million.

Sustainable Communities

Through its support of the non-profit SEMAFO Foundation, the Corporation demonstrates its commitment to sharing the benefits of its activities with local communities and host countries throughout the life cycle of our mine and long after its eventual closure. While education constitutes the cornerstone of the Foundation’s activities, healthcare and income-generating projects remain important sources of investment to improve the quality of life and livelihoods of the communities in which we operate.

  • During the six years ending June 30, 2016, beneficiary communities in Burkina Faso generated income of $4.4 million through agri-business projects supported by the SEMAFO Foundation.

Prudent Mining

Our strategy is to create economic value by operating in a safe, socially and environmentally responsible manner while promoting and protecting the welfare of our employees. Through joint inspections, health and safety training, orientation sessions and our national workforce recruitment program, we encourage employee participation in health and prevention program activities, in particular through raised awareness and training.

  • As at December 31, 2015, our accident frequency rate stood at 1.88 per 200,000 hours worked.