The Sun – Sabodala Gold Operations: 233,067 ounces of gold produced in 2017

The general manager of Sabodala Gold Operations (Sgo) revealed yesterday that the mining company has produced 233,067 ounces of gold in 2017, for a turnover of 170 billion CFA francs. Abdoul Aziz Sy made the announcement yesterday, during the publication of the 2017 RSE report of its structure.

Sabodala Gold Operations (Sgo) achieved a record gold production of 233,000 ounces of gold (or 6.6 tonnes of gold) in 2017, with a turnover of 170 billion CFA francs, a 13% jump compared to 2016. The CFAF 120 billion representing 70% of turnover, says its director general, were spent in Senegal, of which FCFA 32 billion was paid to the State in royalties, taxes, duties and other contributions and FCfa 600 million invested in the financing of community projects designed with and for the populations of the communes around the mine. Abdoul Aziz Sy was speaking yesterday at the publication of the 7th report RSE (Corporate Social Responsibility) 2017 of its structure. Sabodala Gold Operations, he said, had a good start with 64,000 ounces produced in the first quarter of 2018 and 65,000 ounces in the second quarter of 2018 at a lower cost than the first half of last year. "We will break the 2017 record," said Sy. With 1,158 employees, Mr. Sy claims that half of Sgo's staff comes from the Kedougou region, including one-third of the Sabodala commune where the gold is mined. "The ratio of our expatriate staff continues to decline inexorably by losing one point each year. From 10% in 2013, it stands at 6% in 2017, "he said. Since 2009, the mining company, a subsidiary of the Canadian company Teranga gold operations, has been mining gold in this part of Senegal for 13 years with reserves of 2.7 million ounces. "Beyond our current reserves and after moving the villages of Sabodala and Medina Sabodala with the support of local communities and regional authorities, we will have access to the significant potential of the Niakafiri and Maki Madina deposits to complete our drilling program. in these occurrences of the mining concession, "he said.

For Abdoul Aziz Sy, Teranga's mission is to create long-term value for all stakeholders through" a mining operation. responsible. " His belief is that "Corporate Social Responsibility is not just a good thing to proclaim". "Social performance is essential and we invest every year through the Social Mining Program and the Gora Community Fund for the betterment of our communities," said Sy. Last year, he continued, Sgo invested in initiatives with a focus on youth development. These initiatives range from helping regional youth organizations to building youth centers. These actions, in his opinion, deserve to be known. "We need, in our progress, to communicate to know that we have a common understanding," said Abdoul Aziz Sy.

The Director of Mines and Geology, Ousmane Cissé, stressed that "the society of Sabodala is both benchmark and recourse, "announcing, in the process, that three new mining companies will soon arrive in Kedougou to exploit gold in the same way as Sgo. Since 2012, an increase in the mining royalty has been noted. It has increased from FCFA 2, 5 to 3 billion to CFAF 12 and 15 billion per year. The 20% is redistributed to the population, said Ousmane Cisse, while indicating that "the state wants a mining industry development." Mamadou deputy Lamine Diallo, chairman of the Network of Parliamentarians for Good Governance and Mineral Resources of Senegal (Rgm), praised Sgo's "transparency effort."

With each publication of his Rse report, he congratulates, Sgo gives "figures" on its activities. In addition, the president of Réseau Rse Sénégal, Philippe Barry, insisted on "the preservation of biodiversity."

Souleymane Diam SY

EXPORT DUTY: SGO HAS NOT APPLIED THE 4% INCREASE
In the 2018 Amended Finance Act, the State imposed a new 4% tax representing the export duty. A measure that must apply to all mining companies. "In the rectifying finance law," said SGO chief executive Abdoul Aziz Sy, "a lot of taxes have been introduced because they fall strictly under the prerogatives of the public authorities. The state is free to create these new taxes, "he said. In Sgo, informs Mr. Sy, this measure is not applied because of the stabilization of the tax and customs regulations negotiated with the State, as soon as operations begin.