Sabadola Gold Operation (SGO) was made public yesterday, Monday 1is July 2024, its sustainable development report in Senegal for the year 2023. This document reveals that SGO’s gold production in 2023 was in deficit, with 294 ounces, or just over 9 tonnes of gold produced, compared to 358 ounces in 2022. Despite these economic and financial underperformances, the mining company’s economic and social contribution to Senegal has increased significantly, from 219 billion FCFA in 2022 to 277 billion FCFA in 2023.
The year 2023 has been particularly difficult for Sabadola Gold Operation (SGO), “due to the drop in ore grades of around 15% compared to its budget.” This information was provided by the Director General of the mining company, Abdou Aziz Sy, who presented yesterday, Monday 1is July 2024, its Sustainable Development Report in Senegal for the 2023 financial year. According to him, this is linked to the difficulties encountered with the refractory ore of Massawa but also to the occupation of their deposits by gold miners.Our 2023 production was in deficit. We produced 294 ounces, or just over 9 tonnes of gold, which is below targets and down 18% from our 2022 production of 358 ounces, or 11 tonnes. Fortunately, gold costs increased by 9% during the same period.” he said.
The company’s operating expenses, for their part, followed the opposite path, going from 691 dollars per ounce in 2022 to 774 dollars per ounce in 2023. SGO’s annual turnover fell by 10%, going from 393 billion FCFA in 2022 to 354 billion FCFA in 2023. Despite these economic and financial underperformances, the Managing Director of SGO indicates that their economic and social contribution to Senegal has clearly progressed.Indeed, our economic contribution to Senegal has increased from 219 billion in 2022 to 277 billion FCFA in 2023. The amount of our economic contribution to Senegal represents approximately 1.7% of the national GDP (Gross Domestic Product) and 81% of our turnover in 2023.” he rejoices.
In addition, local purchases increase from 132 billion FCFA in 2022, representing 76% of the company’s revenues, to 145 billion in 2023. Payments to the government in terms of taxes, royalties, duties and dividends increased from 85 billion FCFA in 2022 to 132 billion in 2023, a jump of 34%. The payroll increases from 34 billion FCFA in 2022 to 35 billion FCFA in According to Abdou Aziz Sy, these figures illustrate that our credo of sharing profits even in the event of an economic crisis is a reality for us.
I AM AMINATA CISSE
