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Nordgold begins mining at a new deposit in Guinea — company

Through the implementation of the exploration program the proved and probable reserves of the Diguili deposit in Guinea increased to 138,000 ounces

MOSCOW, August 5. /TASS/. Gold producer Nordgold has begun development of the new Diguili deposit in Guinea, the company said in a press release on Thursday.

The company announced that that its "Lefa mine team have started mining at the new satellite Diguili deposit in the Republic of Guinea."

"A core pillar of Nordgold’s strategy is to expand our resource and reserve base through both organic growth and selective acquisition of high value projects. Our acquisition of Lefa in 2010, combined with the extensive exploration program we have undertaken since then, is precisely in line with that strategy. The Diguili deposit was identified by our exploration team and it will now make a strong contribution to the overall Lefa mine performance," said Louw Smith, Chief Operating Officer of Nordgold.

The proved and probable reserves of the Diguili deposit, located about 35 km from the Lefa gold recovery plant, have been significantly increased through the implementation of the exploration program: from 78,000 ounces at the end of 2020 to 138,000 ounces in 2021.

Nordgold operates nine mines (four in Russia, three in Burkina Faso and one each in Guinea and Kazakhstan). The company has several prospective projects in feasibility study. Members of Mordashov’s family are the main shareholders with a 99.94% stake.

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