Following a start to the year disrupted by maintenance operations, the mine operated by Endeavour Mining accelerated in the second quarter. Despite a decline in half-year production and an increase in costs, Ity remains on track to meet its annual targets.
The Ity gold mine, in western Côte d'Ivoire, produced 148 000 ounces in the first half of 2026, equivalent to approximately 4,6 tonnes of gold. This performance remains below the 168 000 ounces, or 5,2 tonnes, recorded over the same period in 2025.
The decline reached nearly 12% year-on-year, according to Endeavour Mining's half-year publication. This decrease is primarily explained by the reduction in the average grade of the ore processed and by maintenance operations carried out on the facilities at the start of the year.
See also- The Ity mine, the oldest gold mine in Côte d'Ivoire, achieved record production in 2024. The half-year performance, however, masks a clear improvement between the two first quarters.
After 69 000 ounces produced from January to March, Ity delivered 79 000 ounces in the second quarter, representing an increase of 14,5%. This rebound was supported by a return to better plant availability and the processing of a larger proportion of high-grade ore, the Canadian group notes.
Costs significantly increasing: The production of Ity nevertheless faces a significant increase in costs. Its all-in sustaining cost or AISC, an indicator that includes the expenses necessary to maintain operations, stood at 1 438 dollars per ounce in the first half, compared to 1 025 dollars a year earlier.
The increase exceeds 40%. Part of this increase stems from the rise in mining royalties in Côte d'Ivoire, the rate of which has increased from 6% to 8%.
The high level of the gold price also increases the amounts paid to the State, as these levies evolve with the metal price. See also- Côte d'Ivoire: The Ity gold mine produced 5,2 t of gold in the first half of 2024.
Ity thus sold its gold at an average price of 4 518 dollars per ounce in the first half. According to Endeavour Mining, the effect of the price on royalties added 128 dollars per ounce to the all-in sustaining cost.
Calculated on the basis of a reference price of 3 000 dollars per ounce, the AISC would amount to 1 310 dollars. The trend nevertheless improved in the second quarter.
The all-in sustaining cost decreased from 1 471 to 1 408 dollars per ounce, thanks to the increase in produced volumes, the decrease in unit processing costs, and better electricity availability. Between 9 and 10,3 t of gold targeted in 2027.
Despite the decline observed year-on-year, Endeavour Mining maintains its forecasts for 2026. Ity is expected to produce between 285 000 and 330 000 ounces over the full year, or approximately 8,9 to 10,3 tonnes of gold.
The mine has already achieved between 45% and 52% of this target in the first half. Production could slightly slow down in the third quarter due to lower grades, before an acceleration expected over the last three months of the year thanks to the processing of richer ore.
The all-in sustaining cost should, for its part, remain between 1 300 and 1 500 dollars per ounce, in accordance with the group's forecasts. Endeavour also maintains its investment programs: 40 million dollars for the maintenance of facilities and 45 million for development projects.
In parallel with production, Endeavour continues its exploration work around Ity in order to identify new resources and extend the lifespan of the mine which produced its first ounce of gold in 1991, that is to say 35 years ago. Out of an annual budget of 15 million dollars, 8,2 million had already been invested as of the end of June for this purpose.
Fanuelle YAO. Published on 09/10/26 17:27.
The Editorial Staff