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February 27, 2024
Mining Africa News

Endeavour Mining acquires Semafo

Canada’s Endeavour Mining said on Thursday it had completed the C$1 billion ($732 million) acquisition of smaller rival Semafo, which has created West Africa’s top gold producer.
With the merger completed, Semafo’s president and chief executive Benoit Desormeaux has assumed the role of Endeavour’s new president.
Semafo’s chief financial officer, Martin Milette, was set to be group CFO, but he has informed Endeavour that, for personal reasons, he won’t be able to relocate to London.
Henri de Joux, executive VP of people and information technology at Endeavour, will act as interim CFO, the company said.
The deal, announced in March, has brought together six mines with strong cash flows into one portfolio. Combined reserves stand at 10.5 million ounces, and measured and indicated resources, 20.7 million ounces.

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