OREANDA-NEWS. SEMAFO Inc. (TSX:SMF)(OMX:SMF) today announced it had resumed development of the Wona North pit at its Mana Mine in Burkina Faso. A total of 2.3 million tonnes of waste material will be extracted this year from the Wona North pit. The Corporation expects to increase its annual mining capacity to 40 million tonnes for the next three years in order to produce over 200,000 ounces of gold per year at Mana.

In 2017, the Mana Mine should process ore from the Fofina, Siou and Wona North pits with the Fofina deposit expected to be depleted in the first half of 2017. As of December 31, 2015, mineral reserves at Wona totalled 12.7 million tonnes at an average grade of 2.30 g/t Au for 935,100 ounces of gold contained.

In light of the commencement of stripping at Wona, the 2016 capital expenditures budget at Mana has been adjusted from US$44.3 million to US$47 million.

The table below presents the 2016 production guidance in addition to consolidated production targets for the coming three years:

2017 2018 2019
Mana ('000 ounces) 225-245 225-245 200+ 200+
Natougou2('000 ounces)     100 226
Total ('000 ounces) 225-245 225-245 300+ 426+


SEMAFO is a Canadian-based mining company with gold production and exploration activities in West Africa. The Corporation operates the Mana Mine in Burkina Faso, which includes the high-grade satellite deposits of Siou and Fofina. SEMAFO's strategic focus is to maximize shareholder value by effectively managing its existing assets as well as pursuing organic and strategic growth opportunities.