Omanghana
West African Resources is projecting a record year of gold production in 2026, with output expected to reach between 430,000 and 490,000 ounces. The anticipated growth is largely driven by the Kiaka Gold Mine, which will be entering its first full year of operations following its initial gold pour in June 2025.
The company’s production targets will be supported by two key assets located in Burkina Faso. The Kiaka Gold Mine is expected to produce between 240,000 and 280,000 ounces, while the Sanbrado Gold Operations is projected to contribute between 190,000 and 210,000 ounces. Output from Sanbrado will be bolstered by new production streams beginning in 2026, including the Toega open pit and the M5 South underground deposits.
From a financial and operational standpoint, the company is targeting an all-in sustaining cost of below $1,900 per ounce. This estimate includes approximately $440 per ounce in royalties and community levies, based on an assumed gold price of $4,000 per ounce.
West African Resources also plans to invest $20 million in exploration activities during 2026. The program will include more than 100,000 meters of drilling to extend the lifespan of its existing mining operations.
With a strong cash flow outlook, the company is considering introducing shareholder returns, including potential dividends or share buy-back programs, in the second half of 2026.
These production targets form part of a broader long-term strategy, with the company aiming to average 533,000 ounces of gold annually through 2035, peaking at 596,000 ounces in 2030.
Meanwhile, the government of Burkina Faso has recently taken steps to increase its participation in Kiaka SA to 40 percent, up from an initial stake of between 10 and 15 percent. This move reflects wider efforts by the state to strengthen control over its natural resource sector while maintaining partnerships with international mining firms.
Source: Omanghana
