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Emerging African miner set to tip production at over 1 million ounces

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(Kitco News) - With Endeavour Mining's acquisition of SEMAFO last month, CEO Sébastien de Montessus said production should tip 1 million gold ounces.

Montessus spoke to Kitco on Tuesday. Endeavour (TSX:EDV) is a mid-tier west African gold miner. Montessus made headlines late last year when his company took a failed run at Centamin, offering $1.92 billion for the Egyptian gold miner.

Endeavour settled for SEMAFO. The acquisition was announced late March, and the transaction between the two companies should be completed within the next 1-2 months. Before the SEMAFO transaction, Montessus said Endeavour was targetting about 700,000 gold ounces of production.

Regarding COVID-19 containment, Endeavour said it had a "handful of employees" who tested positive back in March. The employees were quarantined. Endeavour also hired an epidemiologist to help develop protocols.

The top challenge when running a mining company while managing COVID-19 is mobility, said Montessus.

"The key challenge has been probably the movement of people, in particular with borders closing, so making sure that you have the right people on-site at any point in time," said Montessus.

Montessus previously worked at AREVA before coming to Endeavour.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

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