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Teranga Gold is a Canadian-based gold mining company which operates the Sabodala Gold mine, the only gold mine and mill in Senegal, West Africa. The Company is focused on continued growth through high return growth initiatives on its 291km2 mine license and highly prospective regional exploration package of approximately 1,000km2 – situated on an emerging gold belt.
An emerging mid-tier gold producer
Teranga means hospitality and friendliness in Wolof, the main local language of Senegal. The Company’s name reflects its actions and vision of becoming the benchmark for responsible gold mining in the country.
Teranga owns and operates the Sabodala Gold mine, the only gold mine and mill in Senegal, West Africa. Located approximately 650km southeast of Dakar, the capital of Senegal, Sabodala has been in operation since 2009. Teranga's mine license and regional land package are situated on the West African Birimian greenstone belt which straddles the border of Mali where approximately 52 million ounces of gold resources have been discovered to date.
As at December 31, 2015 Teranga’s total proven and probable open pit reserves were 2.6 million ounces of gold included in measured and indicated open pit resources of 4.4 million ounces of gold and inferred open pit mineral resources of 0.94 million ounces of gold. Teranga has an 13.5 year mine life based on current production and proven and probable reserves.
Increasing Long-term Sustainable Free Cash Flow
To increase long-term sustainable free cash flow, we have a three-pronged growth plan for our operations in Senegal, which focuses on achieving: (i) reserve growth; (ii) production growth; and (iii) margin expansion. Ultimately we believe we can expand our operations beyond Senegal within West Africa where we can leverage our existing asset base, people, operating experience, social license and other aspects of our business.
Our Mission and Vision
Our mission is to create value for all of our stakeholders through responsible mining.
Our vision is to become a pre-eminent mid-tier gold producer in Senegal and greater West Africa.