Business
Managem: First Gold Ingot Produced at Boto Mine in Senegal
The mining group announces the official production launch of the Boto gold mining site, one of Senegal’s most significant mining projects. Resulting from a €350 million investment, Boto aims for an average annual production of 160,000 ounces of gold during its first three years.
Managem Group announced in a press release on Tuesday, September 2nd, the production of the first gold ingot at the Boto mine, located in the commune of Madina Baffé, in Senegal’s Kédougou region.
«This decisive milestone culminates over two years of intensive work and marks the site’s official entry into production. It reflects the realization of the group’s gold strategy, which aims to sustainably strengthen its presence in West Africa and solidify its position as a continental gold sector leader,» the group emphasized.
Boto, the result of a €350 million investment, ranks among the country’s most significant mining projects. The mine targets an average annual production of 160,000 ounces of gold (approximately 5 metric tons) during its first three years. Its reserves are estimated at 1.8 million ounces (nearly 56 metric tons), with an estimated operational lifespan of twelve years.
The site includes multiple components: an open-pit mine with an annual extraction capacity of 35 million tons of rock, a state-of-the-art processing plant handling 2.75 million tons of ore annually, and critical infrastructure such as a 23 MW power plant, a water reservoir, a tailings dam, a fuel depot, a residential base, an airstrip, and a road network.
Commenting on this pivotal milestone, Imad Toumi, CEO of Managem Group, stated: «I am delighted to see this long-awaited project materialize, bringing development opportunities to local communities and the broader region. Boto’s launch underscores our ambition to become a leading gold sector player in West Africa. This success stems first from the exceptional dedication of our teams, working closely with Senegalese authorities. It aligns fully with our vision of sustainable growth, rooted in operational excellence, environmental stewardship, and support for local communities.»
At peak construction, the project created over 2,500 jobs, with 90% held by Senegalese nationals. Long-term operations are expected to generate more than 1,500 direct and indirect jobs, fostering socioeconomic development at local and regional levels.
Managem noted that Boto has incorporated a community action program since its construction phase, focusing on improving access to clean water, healthcare, vocational training, and youth/women’s employability, «in line with the group’s commitment to responsible development.» The project has also supported income-generating initiatives for regional communities.
