Production statistics

Key production statistics for 2023 from five underground mines and two open pit mines are:

5.4 M

Tonnes Mined

3.94 M

Tonnes Processed

360,000oz

Gold Poured

94.88%

Average Recovery

Open Pit Mining

1 Open Pit Project is currently in state of development

Underground Mining

5 Underground Mine is currently in production state.

3 Underground mines in New Liberty region, Larjor, Kinjor, and Marvoe. utilizes Sub-Level stoping method.

Ndablama, drift and fill underground mine.

Weaju, sub-level stoping, cut and fill mining.

New Liberty is the key asset in Avesoro Resources’ portfolio is the New Liberty Gold Mine, which is Liberia’s first and largest commercial gold mine. Construction at New Liberty commenced in April 2014, with first gold poured from the process plant on 31 May 2015 and gold sales commencing in August 2015. Commercial Production was declared at New Liberty on 1 March 2016.

Open pit mining commenced in 2021 and was completed in 2023. All the ore is transported to the plant at New Liberty via a 45km haul road. Mining of the down-dip extension of the mineralization is continued by underground operation, using a drift-and-fill mining methods due to the moderate dips.

Only Underground Operation on going at this site.Construction of the Weaju underground portal and support facilities commenced in 2022. Ore production from the underground operations started in 2023, with all the ore being transported to the New Liberty processing plant.

The Kokoya Gold Mine started as an open pit operation in 2016 and progressed underground in 2020. Underground mining suspended in 2022 until the gold price becomes more favourable.

The Matambo Open Pit Project will employ conventional open pit mining techniques. The project encompasses three distinct pits, namely Matambo 1, 2, and 3, from which a total of 4 million metric tonnes of fresh ore and 21 million cubic meters of waste rock will be extracted. The anticipated output includes approximately 172,000 ounces of gold with an average grade of 1.34 grams per tonne.

  • Youga Gold Mine acquired from Endeavour Mining Inc. in February 2016 for US$25.3m
  • High grade Balogo deposit acquired from Endeavour Mining Inc. in February 2016
  • Trucking of ore from Balogo to Youga commenced in March 2017