The Managem Group Announces the Production of the First Gold Bar from the Boto Mine

The Managem Group has announced the production of the first gold bar from the Boto mine, located in the Madina Baffé commune in the Kédougou region of Senegal. This decisive milestone follows more than two years of intensive work and marks the official entry of the site into production. This achievement reflects the Group's gold strategy, which aims to sustainably strengthen its presence in West Africa and solidify its position as a key player in the continental gold sector. The Boto project, with an investment of €350 million, is one of the most significant mining projects in the country. The mine is expected to achieve an average annual production of 160,000 ounces of gold, approximately 5 tons, during its first three years. Its reserves are estimated at around 1.8 million ounces, nearly 56 tons, with an expected lifespan of twelve years. The site features an open-pit mine with an extraction capacity of 35 million tons of rock per year, a processing plant capable of handling 2.75 million tons of ore annually using state-of-the-art processes, and essential infrastructure including a 23 MW power plant, a water dam, a tailings dam, a fuel depot, living quarters, a landing strip, and a road network. At the peak of the construction phase, the project created over 2,500 jobs, with 90% of positions filled by Senegalese workers. Ultimately, the operation is expected to generate more than 1,500 direct and indirect jobs, contributing to local and regional economic and social development.