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Nordgold set to invest over $360m in Lefa mine, Guinea

Nordgold boosts backing for Guinea's Lefa mine to the tune of $360m

Russian miner Nordgold plans to invest more than £360m in its Guinea-based Lefa mine.

Nordgold, which spun off from Russian steel maker Severstal in 2012, acquired the mine in 2010. Since then the company has invested over $1bn in Guinea.

The Lefa mine has received a new 15-year permit (in line with its current life of mine) and is one of Guinea’s largest gold producing mines employing around 1,200 while generating 730 indirect jobs.

Nordgold has stated its concern for, and awareness of, the needs of the local community is an integral part of its presence in all of the regions in which it operates. The Lefa mine invested significantly to improve the provision of local health services and education, including support of the fight against Ebola, as well as the creation of new medical facilities and some 40 schools. 

The mine also aims to offer continuous support to the agricultural and food supply activities of the local citizens as well organising access to fresh water through water boreholes drilling. Lefa contributed almost $12m towards local community empowerment and Nordgold intends to continue its investments with the aim of improving people’s living conditions for the life of mine and beyond.

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In 2017 Lefa’s output ramped 7% to deliver a total of 208,800 ounces, while overall the company produced 968,300 ounces of gold across across its nine operating mines.