The Ity mine is one of Endeavour’s cornerstone assets, where the goal is to sustain production above 250koz/year over a +10-year life of mine at an industry-leading AISC.

Key stats

343 koz

2024 Production

$919/oz

2024 AISC1

290 koz – 330 koz

2025 Production guidance

$975/oz – $1,100/oz

2025 AISC1 guidance

$900/oz – $1,030/oz

2025 Cash Cost1 guidance

1. This is an alternative performance measure (non-GAAP measure). Please refer to the Alternative Performance Measures sections in the Annual Report 2023 Financial Review for definitions and reconciliations of alternative performance measures to IFRS.

Ity mine

Ity has the longest operating history of any gold mine in Côte d’Ivoire. The first gold pour occurred in 1991 and the mine has produced more than 1.4Moz of gold since. Endeavour acquired the Ity mine in 2015, later increasing its stake to 85% in 2018 when the CIL plant was built.

At the Ity mine, Endeavour is advancing its optimisation initiatives, while exploration continues to delineate high-grade resources through near-mine exploration.

Ity mine

Key facts

Ownership

85% Endeavour, 10% Government of Côte d’Ivoire, 5% SODEMI

Mining method

Open Pit/Contractor Mining

Production start date

2019 for the CIL Plant

Processing Technology

CIL Plant

Expected mine life

+12 years

Workforce

Approximately 940

Location

Portfolio map
Ity mine
Houndé mine
Mana mine
Sabodala-Massawa mine
Lafigué mine
Assafou project
Kalana project
Houndé exploration
Ity exploration
Mana exploration
Sabodala-Massawa exploration
Lafigué exploration
Siguiri exploration
Assafou exploration
Regional office
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Côte d'Ivoire
Ity mine
The Ity mine is located in western Côte d'Ivoire, 480 km west-northwest from Abidjan, in the prefecture of Zouan-Hounien.
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Burkina Faso
Houndé mine
The Houndé mine is one of Endeavour’s cornerstone assets, where the goal is to sustain production above 250koz/year over a +10-year life of mine at an industry leading AISC.
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Burkina Faso
Mana mine
The focus at Mana is to increase the mine life to more than 10 years, through the expansion of the underground deposits and evaluating local open pit targets.
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Senegal
Sabodala-Massawa mine
The Sabodala-Massawa mine is one of Endeavour’s cornerstone assets and recently underwent an expansion which will elevate it to top-tier status with a targeted production of above 300koz/year at an industry leading AISC.
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Côte d'Ivoire
Lafigué mine
The Lafigué mine poured first gold at the end of Q2 2024 and is Endeavour’s newest cornerstone mine. The goal at Lafigué is to produce over 200koz per year at an industry leading all-in sustaining cost of approximately $900/oz for at least 13 years.
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Côte d'Ivoire
Assafou project
In 2024, Endeavour announced the 4.1Moz maiden reserve at the Assafou project, representing a 90% resource to reserve conversion.
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Mali
Kalana project
The Kalana project, acquired in 2017, is located approximately 250 km south of Bamako, the capital city of Mali. A positive pre-feasibility study (“PFS”) was published in February 2021.
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Burkina Faso
Houndé exploration
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Côte d'Ivoire
Ity exploration
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Burkina Faso
Mana exploration
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Senegal
Sabodala-Massawa exploration
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Côte d'Ivoire
Lafigué exploration
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Guinea
Siguiri exploration
The Siguiri exploration licenses are located in northwest Guinea, located next door to AngloGold’s Siguiri Mine.
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Côte d'Ivoire
Assafou exploration
Exploration continues at the Assafou deposit and other targets on the Tanda Iguela property
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Côte d'Ivoire
Regional office
Our regional hub for the company is located in the port city of Abidjan. Route du Lycée Technique, Abidjan, Côte d'Ivoire, 08 BP 872

Timeline

1970

First resources found by BRGM

1991

First gold pour by BRGM

1997

BRGM purchased by Normandy

1999

COMINOR created to receive Normandy African Assets, including participation in SMI

2000

COMINOR purchased by AREVA (ex COGEMA)

2006

COMINOR transferred to La Mancha through RTO

2012

La Mancha purchased by N. Sawiris

2014

La Mancha increased its stake to 55%

2015

Integration of SMI in Endeavour

2016

Feasibility Study on CIL Project

2017

Endeavour increased its stake to 80%

2018

Endeavour increased its stake to 85%

2019

Commercial production achieved from CIL

2021

Mining commenced at the Le Plaque deposit

2022

Recyn initiative launched

Exploration potential

Exploration focus

At Ity, the discovery of between 1.0 and 1.5Moz of mineral resources over the 2026 to 2030 period is targeted.

Following the successful 50% increase in Ity’s mine reserves in 2024, near-term exploration efforts will focus on targets along the Ity trend including Gbampleu, Guimapleu, Guya and Monta-Bâ within the Toulepleu permit, in addition to the Mahapleu and Goleu targets. The Toulepleu permit presents an opportunity for Ity to vastly expand its resource in the long-term, while the deposits within the Ity mining permit retain the potential to improve operational efficiency through the Ity donut expansion, where a scoping study is ongoing.

The Gbampleu discovery

The Gbampleu discovery is 22km south of the Ity processing plant. The prospect sits in the centre part of the Toulepleu-Ity greenstone belt, on the southern border of the Guimapleu granodioritic mole.

Mineralisation consists of a set of sub-parallel SW-NE shear zones moderately to steeply dipping to the NW and associated with silica-biotite-sericite alteration and a pyrite-sphalerite. Drilling is focussed on confirming the continuity of mineralisation at depth, where local high-grade zones of mineralisation have been identified and are believed to be associated with a large intrusion-related gold system.

Operational data FY-15 FY-16 FY-17 FY-18 FY-19 FY-20 FY-21 FY-22 FY-23 FY-24
Mining  
Waste - open pit (kt) 311 4,916 5,237 2,901 8,320 14,898 17,044 16,902 21,101 22,465
Ore mined - open pit (kt) 64 1,186 1,410 1,127 5,733 8,571 7,906 7,044 6,790 7,954
Processing  
Ore mined - open pit (kt) 71 1,173 1,194 1,307 3,693 5,353 6,248 6,351 6,714 7,954
Grade (g/t) 2.39 2.20 1.85 2.49 1.88 1.57 1.67 1.80 1.63 1.64 
Recovery (%) 81 93 83 81 86 79 80 85 92 91
Production (oz) 5,689 75,867 59,026 84,832 190,438 212,812 271,832 312,517 323,811 342,864 
Cash cost details  
Cash cost per ounce sold (US$/oz) 550 606 733 646 557 764 750 769 777 890 
 
All-in sustaining costs (US$/oz) 683 756 906 719 616 807 836 812 809 919 

Operating performance 

Key metrics FY-17 FY-18 FY-19 FY-20 FY-21 FY-22 FY-23 FY-24
Safety and health  
Fatalities 0 0 0 0 0 1 0 0
Lost Time Injuries 2 0 2 3 0 0 0 0
Energy  
Energy consumption (GJ) 404,982 738,346 946,411 1,446,685 1,428,339 1,516,540 2,016,732 2,183,767
Energy intensity (GJ/oz of production) 6.9 8.7 4.9 6.8 5.3 4.9 6.2 6.4
Emissions  
GHG emissions (tCO2e) 52,198 51,863 51,628 80,218 88,262 107,408 258,483 161,926
GHG emissions intensity (tCO2e/oz of production) 0.9 0.6 0.3 0.4 0.4 0.5 0.8 0.5
Water                              
Water withdrawal (ML) 953 12,014 7,161 8,472 1,862 2,513 2,959 3,640
Water withdrawal Intensity (ML/oz of production) 0.02 0.02 0.05 0.01 0.01 0.01 0.01 0.01
Water consumption (ML) 176 5,099 1,755 8,472 1,862 2,552 1,007 1,068

ESG performance

Our approach (to ESG)

Presentations and technical reports

Title Document
2022 Ity Site Visit View
2021 Prospectus View
2020 Technical Report View
Title Document
2022 Ity Site Visit View
2021 Prospectus View
2020 Technical Report View

NOTE: Historical technical reports are for reference only and are not be to relied upon

On a 100% basis.
Resources shown inclusive of reserves
Tonnage
(Mt)
Grade
(Au g/t)
Content
(Au koz)
Proven reserves 11.3 0.91 331
Probable reserves 67.3 1.49 3,222
P&P reserves 78.6 1.41 3,553
Measured resources 11.4 0.91 331
Indicated resources 97.8 1.62 5,093
M&I resources 109.1 1.55 5,423
Inferred resources 9.1 1.59 467

Current at 31 December 2024

Reserves and resources