Teranga expands in West Africa with Gryphon acquisition

June 19, 2016

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Canada’s Teranga Gold would add a second West African gold project to its fold, announcing on Monday that it would buy Australia’s Gryphon Minerals, which owns the Banfora project in Burkina Faso.
The acquisition of Gryphon would position Teranga, which owned and operated the Sabodala gold mine, in Senegal, to grow its production by 50% to between 275 000 oz/y and 325 000 oz/y by mid-2019, said Teranga CEO Richard Young.

Category: General