Financial News

Endeavour Publishes 2022 Sustainability Report


  • Significant measurable benefits to Endeavour’s host countries:
    • $1.9 billion of total economic contribution to host countries in 2022
    • 81% of total procurement in-country, supporting more than 1,600 national and local businesses
    • 94% of our employees and 57% of senior operational management are West African
    • $23 million spent on social investments, including Endeavour Foundation initiatives, in 2022
  • Continued focus on being a responsible gold miner:    
    • Further reduction in its industry-leading LTIFR of 0.02 incidents per million hours worked
    • 640kg CO2/oz emissions intensity for 2022, beating 2022 reduction target of <670kg CO2/oz
    • 57% of water reused and recycled and an ambitious target of 70% set for 2023
  • Achieved Responsible Gold Mining Principles (“RGMP”) compliance, following external assurance, at the Corporate level and for the Ity and Houndé mines
  • 2023 ESG targets, including safety, diversity and climate change, represent 30% of executive short-term and 15% of long-term incentive compensation

London, 16 May 2023 – Endeavour Mining plc (LSE:EDV, TSX:EDV, OTCQX:EDVMF) (“Endeavour”, the “Group” or the “Company”) is pleased to announce the publication of its 2022 Sustainability Report (“the Report”) with key environmental, social and governance (“ESG”) highlights presented in Table 1 below. The Report and the ESG data centre are available at

Table 1: Sustainability Highlights

  FY-2022 FY-2021 Variance
Operating performance from continuing operations      
Gold production, koz 1,400 1,436 (3)%
AISC, $/oz 928 864 +7%
LTIFR1 0.02 0.20 (90)%
Environmental performance from continuing operations      
Energy intensity, GJ/oz of gold produced 7.48 7.28 3%
Emissions intensity (Scope1+2), tCO2-e/oz of gold produced 0.64 0.54 +19%
Social and Economic Contributions      
National Employees, % of total employees 94% 95% (1)pp
West African Nationals in Senior Management positions, % 57% 55% +2pp
Procurement spend in-country, % 81% 80% +1pp
Total economic contribution to host countries, $m 1,930 2,044 (6)%

(1) Lost Time Injury Frequency Rate (LTIFR) = (Number of LTIs in the Period X 1,000,000) / (Total man hours worked for the period)

Sebastien de Montessus, President and CEO, commented: “In 2022, we continued to make significant progress on our ESG strategy, which was formulated a few years ago following extensive consultation with a range of stakeholders, and is guided by the aims of the United Nations Sustainable Development Goals. Moreover, we were pleased with the recognition that our efforts have received from outside the company, with sector leading ratings, reflecting the positive impact our business can have in the regions where we operate.

In 2022 our total economic contribution to host countries amounted to over $1.9 billion, comprised of local procurement, salaries, taxes, royalties, dividends and other contributions to governments. In addition, to further contribute to the socio-economic development of the region, we invested significantly in local initiatives to improve access to water, education and health facilities within our local communities and across the region.

Many of our ESG initiatives are carried out through the Endeavour Foundation, which we established to implement projects beyond our mines and are focused at the regional, national and trans-border level. During 2022, we launched a number of initiatives, ranging from an investment in The Great Green Wall, which has the ambition to plant a wall of trees across the Sahel, in partnership with the Senegalese Agency for Reforestation and the Great Green Wall, education projects to develop the future pipeline of talent, funding scholarships, university placements and bursaries, as well as vocational training for young people to improve their employability and opportunities in life. 

As a responsible miner, we have continued to tackle climate change as we seek to meet our 2030 target of a 30% reduction in our carbon emissions intensity and Net Zero by 2050. For 2022, we set our first annual carbon emissions intensity target, which I’m pleased to report we beat. We also continued to progress a number of our decarbonisation initiatives, including connecting our Mana mine to the national grid and advancing the analysis for renewable solar projects at our Houndé and Sabodala-Massawa operations. Importantly, these initiatives have the dual benefit of optimising processes, thereby reducing costs, and improving our efficiencies, which further enhances the resilience of our business.

Looking ahead, we continue to ensure we drive the right type of behaviour across our business. As such, for 2023, ESG performance targets will account for 30% of the short-term incentive plan for the Group, as well as 15% of our long-term incentive plan. These weightings include measurement against targets for factors such as health and safety, carbon emissions reduction, and diversity and inclusion.”

The 2022 Sustainability Report has been prepared in accordance with the Global Reporting Initiative (“GRI”) Sustainability Reporting Standards (2021) including the Mining and Metals Sector Supplement. The report is also aligned with the Sustainability Accounting Standards Board (“SASB”) requirements, Task Force for Climate Related Financial Disclosures (“TCFD”), and the Local Procurement Reporting Mechanism (“LPRM”). It has been externally assured against key ESG performance indicators for both GRI and SASB.

Endeavour is also pleased to confirm that it has received external assurance for its compliance with the World Gold Council’s (“WGC”) Responsible Gold Mining Principles (“RGMPs”) at the corporate level, and for its Ity and Houndé mines, in line with the WGC’s timeline.


2022 was a strong year for Endeavour’s ESG activities with important milestones achieved across the Company’s operations and in its engagement with host communities and countries, as shown in Table 2 below.

Table 2: 2022 ESG Scorecard

ENVIRONMENT Climate Change Emissions intensity <670 kg CO2-e/oz. Achieved. Reported an emissions intensity of 640 kg CO2-e/oz.
Water Set a Group water target in 2022. Achieved. Target is to recycle and reuse an average of 70% water across the Group in 2023.
Biodiversity Protection of 600 hectares of land across all the Group’s tenements. Achieved. A total of 1,837 hectares was protected.
Preservation of 10 hectares per mine for land and biodiversity restoration. Ongoing. Achieved 50% of our target, with a total of 30 hectares preserved.
Plastic Waste Elimination of single use plastic water bottles at all our operations by 2023. In progress. Completed a baseline assessment in 2022 and will roll out the strategy in 2023. The 2023 target has been realigned to 2025 due to the complexity of some remote sites.
Study a potential plastic valorisation project. Achieved. Identified a Burkinabe recycling company at the Houndé mine.
SOCIAL Employee Development Develop leadership training programme for employees in management positions. Achieved. The Management Development Programme was enhanced and revitalised.
Education Develop a national strategy and programme for youth employability in each country of operation. In progress. Youth vocational training programmes developed for the Mana and Lafigué assets. In 2023, they will be developed for the other five mines.
Increase annual intake of interns by 20%. Achieved. 43% increase to 504 interns from 352.
Expand the ‘Elites de Demain’ programme in Senegal and Côte d’Ivoire. Achieved. Two students each from Cote d’Ivoire and Senegal have joined the programme.
Community Engagement Conduct a baseline assessment of the infrastructure and amenities for water and electricity around the Group’s mines. This will be undertaken in 2023.

Procurement 75% in-country procurement. Achieved. 81% of the Group’s procurement was sourced in the Group’s host countries.
Define a Local Content Strategy. Achieved. Currently being rolled out across the Group.
Develop a Local Procurement Plan for each mine. Achieved. Being implemented during 2023.
Economic Development Identify a new ECODEV business prospect to advance to feasibility stage. Achieved. A turkey breeding project at the Lafigué project has been identified and is progressing to feasibility study.
GOVERNANCE Zero Harm & Employee Wellbeing Zero fatalities. Unfortunately, the Group reported one fatality in the year during a blasting incident at the Ity mine.
Reduce TRIFR by <5% year on year. Achieved. Reported a 49% decrease year on year to 0.87.
Diversity & Inclusion

Implementation of the Women Empowerment Principles across our business. In progress. During the year various initiatives undertaken, including a Women’s Transformation Day and a conference on leadership for senior female colleagues.
Establish a Diversity Steering Committee. In progress. With the appointment of a new EVP HR, this will be implemented in 2023 as part of the broader
diversity strategy.
Ethical Business Publish first externally assured Conflict Free Gold Standard Report. Achieved. Available on Endeavour’s website.
Publish first standalone Tax and Economic Contribution Report. Achieved. Available on Endeavour’s website.


Endeavour has a ‘Zero Harm’ approach to environmental management, which is underpinned by its Environmental, Biodiversity and Energy Management policies. In 2022, the Group reported no significant environmental incidents or significant incidents involving cyanide.

Emissions and Energy
Energy is a critical input for mining operations. It is also a significant business cost and a major source of Endeavour’s GHG emissions. Working to improve the efficiency of its operations, reduce energy use and associated costs, and lower emissions are key drivers of the long-term sustainability of the Group. During 2022, Endeavour continued its progress towards its emissions targets with significant progress achieved:

  • Endeavour achieved its FY-2022 emissions intensity target (total Scope 1 and 2) of less than 670kg CO2-e/oz, reporting 640kg CO2-e/oz for the year, advancing on the pathway towards its 30% reduction by 2030 target. The Group’s 2023 emissions intensity target is to report less than 640kg CO2-e/oz of gold produced.
  • As shown in Table 3 below, Endeavour’s emissions intensity increased by 19% in 2022 to 0.64 tCO2-e/oz of gold produced, predominantly due to lower production volumes. Endeavour’s overall carbon footprint in 2022 comprised of 58% for Scope 1 emissions (amounting to 749ktCO2-e), 10% for Scope 2 emissions (amounting to 136ktCO2-e) and 32% for Scope 3 emissions (amounting to 415ktCO2-e).

Table 3: Emissions Performance by mine1

  FY-2022 FY-2021 Variance (%)
Aggregate Emissions (Scope1+2), ktCO2-e      
Houndé 176.8 162.8 +9%
Ity 143.0 117.6 +22%
Mana 109.1 132.9 (18)%
Boungou 77.6 86.0 (10)%
Sabodala-Massawa 226.1 192.8 +17%
Wahgnion 136.8 113.6 +20%
Other (Exploration, Projects, Corporate)2 15.4 1.3 n.a.
Group Total 884.9 807.0 +10%
Emissions Intensity (Scope1+2), tCO2-e/oz      
Houndé 0.61 0.55 +11%
Ity 0.46 0.43 +7%
Mana 0.57 0.65 (12)%
Boungou 0.68 0.49 +39%
Sabodala-Massawa 0.64 0.51 +25%
Wahgnion 1.12 0.69 +62%
Group Total 0.64 0.54 +19% 
(1)   FY-2022 and FY-2021 performance excludes contributions from Karma which was divested in March 2022. FY-2021 performance excludes contributions from the Agbaou mine which was divested in March 2021, and includes full calendar year consolidation of the Teranga assets, which were acquired in February 2021.
(2)   FY-2021 emissions did not include a measurement of greenfield exploration or growth projects.
  • Endeavour’s total Scope 1 and 2 GHG emissions increased by 10% in 2022, compared to 2021, due to an increase in Scope 2 emissions, which resulted from an increased use of thermal power by the national utility provider in Burkina Faso, impacting the emissions of purchased electricity in Burkina Faso, specifically for the Houndé mine.  
    • Houndé: The rise in emissions was largely due to increased Scope 2 emissions driven by increased purchasing of electricity from the Burkina Faso grid which adopted a higher market-based emission factor.
    • Ity: The increase in emissions was due to higher energy consumption related to increased usage of on-site power generation.
    • Mana: The reduction in emissions was due to lower total material movement driven by the downsizing of the open pit mining fleet as underground mining began to represent a larger portion of mining operations and the connection of the processing plant to the national grid.
    • Boungou: The reduction in emissions was largely due to lower production volumes.
    • Sabodala-Massawa: The increase in emissions was due to increased haulage distances as greater volumes of ore was trucked to the processing plant from the Massawa deposit, in addition to higher volumes of material moved and processed when compared to the prior year.
    • Wahgnion: The increase in emissions was due to higher mining rates as more material was moved at higher strip ratios during the year, in addition to longer haulage distances from the Samavogo pit that was accessed in the latter half of the year.
    • Other: Other emissions increased compared to the prior year due to the collection of emissions associated with greenfield exploration, which had not previously been included, as well as the addition of emissions incurred at organic growth projects, such as the Lafigué project.
  • For 2022, the Company significantly improved its Scope 3 calculation methodology and expanded its reporting, resulting in an increase in Scope 3 to 414,641 tCO2-e, compared to 226,883 tCO2-e in 2021. Purchased Goods & Services (Category 1) accounted for 45% of the Group’s Scope 3 emissions and Fuel & Energy Related Activities (Category 3) accounted for 43%.
  • As shown in Table 4 below, energy use was 10.0 million GJ for 2022, resulting in an energy intensity of 7.48 GJ per ounce of gold produced, marking a slight increase of 3% year on year. The decrease in energy use was largely due to lower energy needs at the Mana mine as the Wona open pit activities were wound down as the mine moved to underground mining, partially offset by increased energy intensity at Wahgnion, Boungou and Sabodala-Massawa due to lower production.

Table 4: Energy Performance by mine1

  FY-2022 FY-2021 Variance (%)
Total Energy Consumption GJ      
Houndé 1,722,770 1,825,431 (6)%
Ity 1,516,540 1,428,339 +6%
Mana 1,254,924 1,857,686 (32)%
Boungou 1,021,392 1,198,567 (15)%
Sabodala-Massawa 2,903,614 2,615,759 +11%
Wahgnion 1,713,416 1,527,433 +12%
Corporate, Projects and Exploration2 206,364 1,582 n.a.
Group Total 10,339,020 10,454,796 (1)%
Energy Intensity, GJ/oz      
Houndé 5.93 6.21 (5)%
Ity 4.85 5.25 (8)%
Mana 6.56 9.08 (28)%
Boungou 8.99 6.88 +31%
Sabodala-Massawa 8.25 6.85 +20%
Wahgnion 14.02 9.31 +51%
Group Total 7.48 7.28 3%

(1)    FY-2022 and FY-2021 performance excludes contributions from Karma which was divested in March 2022. FY-2021 performance excludes contributions from the Agbaou mine which was divested in March 2021, and includes full calendar year consolidation of the Teranga assets, which were acquired in February 2021.
(2)    FY-2021 did not include a measurement of energy consumption across Corporate, Projects and Exploration.

Water Stewardship
Endeavour seeks to maximise water reuse and recycling through closed-circuit configurations, which helps to reduce overall consumption. To improve the Group’s water stewardship and efficiency rates, Endeavour set its first Group-wide water target, which aims to recycle and reuse an average of 70% for 2023. Key highlights for the year are listed below.

  • As shown in Table 5 below, the total water withdrawal for the Group in 2022 was 14,198 megalitres (“ML”), an increase of 50% over 2021 due largely to tailings dam raises at the Wahgnion and Sabodala-Massawa mines, which prevented drawing from rainfall water that was deposited onto the tailing facilities, thereby impacting water recycling rates.
  • Total water withdrawal intensity for the Group increased to 0.0105 ML of water per ounce of gold produced, which was approximately a 70% increase over the prior period due to the previously mentioned impact of the tailings dam raises, compounded by lower production across the Group.
  • Water reused and recycled decreased to 57% in 2022, from 67% in 2021, due to the previously mentioned impact of tailings raises at the Wahgnion and Sabodala-Massawa mines, preventing access to deposited water in the tailings storage facilities.

Table 5: Water Performance by mine1

  FY-2022 FY-2021 Variance (%)
Aggregate Water Withdrawal, ML      
Houndé 3,406 2,785 +22%
Ity 2,513 1,862 +35%
Mana 1,361 778 +75%
Boungou 1,602 1,148 +40%
Sabodala-Massawa 3,089 1,668 +85%
Wahgnion 2,228 1,253 +78%
Group Total 14,198 9,494 +50%

(1)   FY-2022 and FY-2021 performance excludes contributions from Karma which was divested in March 2022. FY-2021 performance excludes contributions from the Agbaou mine which was divested in March 2021, and includes full calendar year consolidation of the Teranga assets, which were acquired in February 2021.

Tailings Storage Facilities Management

  • All of Endeavour’s operational tailings were audited in 2022 against the ICMC and did not record any significant incidents involving cyanide during 2022.
  • In 2022, 23.5 million tonnes of tailings were produced. All pertinent information on the Group’s tailing storage facilities is published annually on the Company’s website as part of the Investor Mining and Tailings Safety Initiative.

Following the development of the Group’s biodiversity strategy in 2021, Endeavour set its first annual biodiversity targets in 2022 which was to protect 600 hectares of land across its tenements and to preserve 10 hectares per mine for land and biodiversity restoration.

  • In 2022, 1,837 hectares were successfully protected, comprised of 1,695 hectares at the Sabodala-Massawa mine, 12 hectares at the Ity mine and 130 hectares through the Great Green Wall initiative in Senegal.
  • 30 hectares were also restored across the Group’s sites, achieving 50% of the 2022 target, with a 2023 target to reclaim 60 hectares across the Group.


Endeavour has the potential to have a positive impact on the communities and host countries where it operates by offering a range of socio-economic development opportunities, from employment, upskilling its workforce, supporting local businesses and community projects such as healthcare, education and economic development.

Supporting Local Economies
Endeavour prioritises in-country suppliers of goods and services as well as the development of domestic manufacturing and supply chains, which in turn, multiplies the Group’s positive impact on the local, regional and national economies of host countries, strengthens local businesses and creates direct and indirect employment opportunities. The majority of the Group’s supply chain sources key supplies from either in-country or within the West African region. In addition, Endeavour contributes to national economies through the Group’s significant tax and royalty payments to host governments, as well as continuing to prioritise investments into host community development projects.

Key highlights for the year are listed below.

  • As shown in Table 6 below, in 2022, Endeavour’s total economic contribution to host countries, including social investments, was $1.9 billion, a decrease from $2.0 billion in 2021 due to lower production.

Table 6: Host Country Economic Contribution Indicators1

  FY-2022 FY-2021 Variance (%)
National procurement, $m 1,150 1,262 (9)%
Payments to host governments, $m2 533 543 (2)%
Employee wages and benefits, $m 195 164 +19%
Taxes on salaries paid, $m 29 49 (41)%
Total social investments, $m 23 26 (11)%
Total economic contribution to host countries, $m 1,930 2,044 (6)%

(1)   FY-2022 performance excludes contributions from Karma which was divested in March 2022. FY-2021 performance includes contributions from the Karma mine.
(2)   Includes taxes, royalties and dividends to government owned non-controlling interests.

The Group’s total procurement for 2022 was $1.4 billion, a decrease from $1.6 billion in 2021 due to the disposal of the Karma mine in March 2022, resulting in a decrease in in-country procurement from $1.3 billion in 2021 to $1.1 billion in 2022. In spite of this overall decrease, the Group sourced 81% of its procurement from host countries during 2022, representing a 1 percentage point increase over 2021.

  • Endeavour supported approximately 1,600 national and local businesses in Cote d’Ivoire, Senegal, Burkina Faso and Guinea in 2022. Procurement from ‘National Owned’ and local impacted community suppliers totalled $388 million and $28 million respectively for 2022.
  • Endeavour paid $533 million to host governments in the form of taxes, royalties and dividends, $224 million in gross employee wages, salaries and benefits and payroll taxes, $688 million in operating costs excluding employee costs, $23 million in social investments and $5 million in royalties to third parties for the 2022 financial year.
  • In 2022, Endeavour invested a total $23 million in social investments, including $16 million contributed to the Local Development Mining Funds, and $7 million invested in a range of community projects, including the Endeavour Foundation and ECODEV, the Group’s impact investing fund.

Growing Local Talents
Endeavour operates in a number of diverse jurisdictions and recognises that its operations blend a wide range of nationalities, cultures and abilities. At the end of 2022, the Group had a total workforce of 14,140 people, a 1% decrease from 14,258 in 2021, and comprised 5,659 employees and 8,481 contractors.

Key highlights from 2022 are listed below.

  • Endeavour’s strong record of employing nationals continued in 2022, with 94% of Endeavour’s workforce from host countries, marginally lower than 2021.
  • 57% of senior management were West African; comprising 44% nationals, 8% regional West African expatriates, and 5% from host communities.
  • In 2022, 262 national employees were promoted based on newly acquired skills, either gained on the job or through formal training programmes made available to them. In 2022, 504 young nationals gained valuable job experience through internships across Endeavour’s sites, a 43% increase over 2021.
  • Overall, 9% of employees were women, with 12% of those in management roles and 12% in technical or supervisory roles.
  • At the leadership level, at the end of the year, the Executive Management Committee had 13% female representation and 27% of direct reports to members of the Executive Management Committee were women.
  • In 2023, Endeavour has included a gender diversity target as part of the Group’s 2023 annual bonus, targeting 15% female new hires, with an upper stretch target of 20%.

Table 7: Employee Diversity Indicators

  FY-2022 FY-2021 Variance (%)
National Employees, % of total employees 94 95 (1)pp
Female Employees, % of total employees 9 9 -
Female Employees in technical roles, % of female employees 12 12 -
West African Nationals in Senior Management Positions1, % 57 55 +2pp
(1) Includes regional West African expatriates.  


  • In 2022, Endeavour received 17 complaints through the anonymous Whistleblower system and none of them were related to bribery or corruption.
  • The Group had no reported or identified cases of bribery or corruption in 2022, similar to 2021.
  • There were no substantiated reports of human rights abuse received in 2022, similar to 2021. Endeavour’s Modern Slavery Statement is available on its website:


Endeavour’s targets for 2023 are detailed in Table 8 below.

Table 8: 2023 ESG Targets





Climate change Emissions intensity of < 640kg CO2-e/oz.        
Water Average of 70% recycled water across the Group.

Protect 300 hectares of land across Endeavour’s tenements.
Reclaim 60 hectares for land and biodiversity restoration.
Plastic Waste 50% reduction in single use plastic water bottles across all sites.





Economic development

Increase procurement spend to 35% for national owned suppliers.
Implement the Local Procurement Plan at each mine.

Community Engagement Reduce time to close out grievances to the Group target of 14 days.



Zero Harm and Employee Well-being

Zero fatalities and reduce TRIFR by at least 5% compared to 2022.
10% reduction in total malaria mine site incidence rates.
Diversity and Inclusion

Target 15% female new hires.
Conduct an employee engagement survey.
Ethical Business

RGMP compliance at Endeavour’s remaining mines, as per the WGC timeframe.
Membership of the Voluntary Principles on Security and Human Rights.


Endeavour has measurable ESG targets in place that form part of its executive compensation scheme. The ESG component of the Short-term Incentive Scheme (annual) and Long-term Incentive Scheme (3-year) are 30% and 15%, respectively, with targets presented in Table 9 below and further detailed in the Annual Report available on the Company’s website.

Table 9: Group and Executive ESG KPIs


FY-2023   FY-2022   FY-2021
Target Weighting   Target Weighting   Target Weighting





5% reduction in TRIFR
(fatality = zero)


5% reduction in TRIFR 15%  


10% reduction in TRIFR 10%
Group-wide female recruitment of 15% 7.5% 75% host country sourcing 10% 10% reduction in malaria cases vs 2020


RGMP compliances of 2 additional mines 7.5% 670 kg CO2-e/oz emissions intensity target 5%


ISO 14001 / ISO 45000 certification 7.5%  

Replace diesel generators with equivalent renewable power 7.5%  

Implementation of a carbon reduction strategy and commissioning of at least one significant renewable energy power plant by end of 2023


Emissions intensity target of < 600kg CO2-e/oz by 2025 7.5% All TSFs compliant with international standards at existing mines 7.5%


Endeavour is pleased that its commitment to increase its ESG disclosure and transparency, along with its ambitious ESG initiatives, has resulted in external recognition, which reflects the positive impact that its business can have in the regions where it operates.

External ESG rating agencies have ranked Endeavour as a sector leading company, as summarised below:

  • Endeavour’s Sustainalytics score has improved from the 72nd percentile in 2019 to the 9th percentile (1st = lowest risk) for 2022, ranking the company fourth among its gold mining peers
  • MSCI ESG rating has improved from BBB in 2019 to AA in 2022, placing Endeavour in the top 25th percentile
  • S&P Global ESG score improved from a 49th percentile ranking in 2020 to an 86th percentile ranking in 2022, prompting Endeavour to be included in the Dow Jones Sustainability Index in 2023
  • Endeavour’s CDP Climate Change score has improved from a D- in 2019 to a B- in 2022, while the Water score remained a C for 2022

Endeavour also received a number of awards and recognition last year, as summarised below:

  • In Burkina Faso, Endeavour won the Best RSE Initiative award with our programme ‘Elites de Demain’ which focuses on ensuring a strong pipeline of future talent by offering scholarships to study mining-related courses to students from our three host countries.
  • Endeavour’s Mana mine, in Burkina Faso, was awarded the Burkinabe national distinction ‘Chevalier de l’ordre de la santé et de l’action social, avec agraphe santé’, or ‘Knight of the Order of Merit for Health and Social Action’, for its work to combat HIV/AIDS.
  • Two Endeavour female employees, Laetitia Gadegbeku-Ouattara and Maimouna Guembre, recognised by Women in Mining UK as part of the 2022 cohort of the ‘100 Global Inspirational Women in Mining”


Mark Morcombe, COO of Endeavour Mining PLC., a Fellow of the Australasian Institute of Mining and Metallurgy, is a "Qualified Person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101") and has reviewed and approved the technical information in this news release.


Martino De Ciccio

Deputy CFO & Head of Investor Relations
+44 203 640 8665 
Brunswick Group LLP in London

Carole Cable, Partner
+44 7974 982 458 


Endeavour Mining is one of the world’s senior gold producers and the largest in West Africa, with operating assets across Senegal, Côte d’Ivoire and Burkina Faso and a strong portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa.

A member of the World Gold Council, Endeavour is committed to the principles of responsible mining and delivering sustainable value to its employees, stakeholders and the communities where it operates. Endeavour is admitted to listing and to trading on the London Stock Exchange and the Toronto Stock Exchange, under the symbol EDV.

For more information, please visit


This document contains "forward-looking statements" within the meaning of applicable securities laws. All statements, other than statements of historical fact, are “forward-looking statements”, including but not limited to, statements with respect to Endeavour's plans and operating performance, the estimation of mineral reserves and resources, the timing and amount of estimated future production, costs of future production, future capital expenditures, the success of exploration activities, the expectation that an exploration permit will be received, the anticipated timing for the payment of a shareholder dividend and statements with respect to future dividends payable to the Company’s shareholders, the completion of studies, mine life and any potential extensions, the future price of gold and the share buyback programme. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "expects", "expected", "budgeted", "forecasts", "anticipates", believes”, “plan”, “target”, “opportunities”, “objective”, “assume”, “intention”, “goal”, “continue”, “estimate”, “potential”, “strategy”, “future”, “aim”, “may”, “will”, “can”, “could”, “would” and similar expressions .

Forward-looking statements, while based on management's reasonable estimates, projections and assumptions at the date the statements are made, are subject to risks and uncertainties that may cause actual results to be materially different from those expressed or implied by such forward-looking statements, including but not limited to: risks related to the successful integration of acquisitions or completion of divestitures; risks related to international operations; risks related to general economic conditions and the impact of credit availability on the timing of cash flows and the values of assets and liabilities based on projected future cash flows; Endeavour’s financial results, cash flows and future prospects being consistent with Endeavour expectations in amounts sufficient to permit sustained dividend payments; the completion of studies on the timelines currently expected, and the results of those studies being consistent with Endeavour’s current expectations; actual results of current exploration activities; production and cost of sales forecasts for Endeavour meeting expectations; unanticipated reclamation expenses; changes in project parameters as plans continue to be refined; fluctuations in prices of metals including gold; fluctuations in foreign currency exchange rates; increases in market prices of mining consumables; possible variations in ore reserves, grade or recovery rates; failure of plant, equipment or processes to operate as anticipated; extreme weather events, natural disasters, supply disruptions, power disruptions, accidents, pit wall slides, labour disputes, title disputes, claims and limitations on insurance coverage and other risks of the mining industry; delays in the completion of development or construction activities; changes in national and local government legislation, regulation of mining operations, tax rules and regulations and changes in the administration of laws, policies and practices in the jurisdictions in which Endeavour operates; disputes, litigation, regulatory proceedings and audits; adverse political and economic developments in countries in which Endeavour operates, including but not limited to acts of war, terrorism, sabotage, civil disturbances, non-renewal of key licenses by government authorities, or the expropriation or nationalisation of any of Endeavour’s property; risks associated with illegal and artisanal mining; environmental hazards; and risks associated with new diseases, epidemics and pandemics, including the effects and potential effects of the global Covid-19 pandemic.


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