Guinea's Siguiri gold mine aims to boost production to 400,000 ounces annually by 2030, signaling a major push for local gold industry growth.
Siguiri gold mine's production goal
The Siguiri gold mine in Guinea aims to produce 400,000 ounces of gold annually by 2030, according to a government note released on October 13. This target is part of broader efforts to maximize the country’s gold resources.Visit by the Minister of Mines
The goal was mentioned during a visit by Guinea’s Minister of Mines, Bouna Sylla, to the Siguiri site. The discussion highlighted the government’s interest in expanding the mine’s output and improving the exploitation of gold resources.SAG and ownership structure
The mine is operated by the Société aurifère de Guinée (SAG), a company in which AngloGold Ashanti holds 85% of the capital, while the Guinean state owns the remaining 15%. This ownership structure influences the mine’s strategic direction and investment plans.Development of Bloc 3
The 400,000-ounce target is linked to the development of "Bloc 3," a new mining area within the Siguiri perimeter. This area is expected to supply ore to the processing plant in the long term and requires an investment of half a billion dollars for its growth projects.Modernization of processing plant
AngloGold Ashanti’s annual report mentioned that the development of Bloc 3 has been approved, with permit procedures ongoing. The company also plans to modernize the processing plant, with a start-up expected by the end of the first half of 2026.National refinery plans
Guinea’s government is working to develop a national gold refinery called Nimba Gold Refinery. This facility would process gold from local mines like Siguiri, reducing the need to export raw gold for refining abroad.Siguiri’s historical role
Siguiri has been in production since 1998 and remains a key site in Guinea’s industrial gold mining. Its expansion could strengthen the country’s position in the global gold market alongside other resources like bauxite and iron.New mines and future projects
Guinea’s gold industry has grown in recent years with new mines like Kiniero and the upcoming Bankan project by PDI Gold. Bankan is expected to produce about 250,000 ounces annually over 12 years, with commercial production starting in 2028.
