By: APA news

Senegal’s President met with Ilan Cockerill, CEO of Endeavour Mining Group, to discuss the group’s expansion in the country, particularly through a proposed refractory mineral processing plant.

President Bassirou Diomaye Faye’s meeting with Cockerill on Monday,focussed on the group’s expansion in Senegal especially over the creation of a refractory mineral processing unit, which would become the twelfth such facility in the world.

This development reflects Endeavour’s ambition to position Senegal among the major industrial hubs of the global gold value chain.

The group, which already operates the Sabadola-Massawa gold mining complex, reiterated its commitment to strengthening its presence in the country through new investments, particularly in electricity generation to support its operations and contribute to local development.

This expansion strategy comes as the Senegalese government tightens its control over the gold sector.

President Diomaye Faye, ordered the establishment of a National Gold Trading Center on Wednesday, November 12, describing it as a “sovereignty priority.”

This decision comes amid significant financial losses linked to illicit gold exports, estimated at between $2.38 and $2.71 billion over ten years.

According to a SWISSAID study published in October 2024, between 36 and 41 tons of gold were illegally exported from Senegal between 2013 and 2022, primarily from artisanal mining and transiting through Mali to the United Arab Emirates.

State-approved trading posts capture only about 10 percent of artisanal gold, while in 2021, a discrepancy of 2.95 tonnes was observed between official export figures and those of importing countries.

Faced with this situation, the authorities intend to promote local processing, the optimal exploitation of resources, and the consolidation of a dynamic mining industry. President Faye reiterated the importance of strengthening territorial development in mining areas through the Mining Rehabilitation Fund and the Local Government Development Fund. He also emphasised the urgent need to launch the new mining industrial hub in Matam, focused on processing the phosphate deposits of Ndendory.

Furthermore, Faye instructed the government to ensure strategic control of public shareholding in private mining companies and the restructuring of state-owned enterprises such as SOMISEN and
MIFERSO. He also mandated regular updates to the mineral resource mapping and rigorous quarry management.

Within this renewed and more demanding framework, Endeavour Mining’s declared ambitions take on strategic importance.

The refractory ore plant project, as well as the planned investments in Sabadola, are fully aligned with the national vision of local processing, reducing value-added losses, and anchoring mining development within the region.

The group thus intends to position itself as a leading partner in the new mining architecture envisioned by Senegal.