By: Ecofin agency

West African Resources (WAF) now holds 6.5 million ounces of gold reserves, or about 202 tons, across its portfolio in Burkina Faso, the company said in its first-half 2025 financial report released on Tuesday, August 26. The figure represents a 2% increase from the 6.3 million ounces declared in July 2024.

The updated estimate combines reserves from Sanbrado, Kiaka, and Toega, WAF’s three gold assets in Burkina Faso. Sanbrado entered production in 2020, while Kiaka became the company’s second producing mine in June this year. Toega, a satellite deposit of Sanbrado, is expected to start production by the end of 2025.

Together, the three mines are expected to deliver average annual output of 480,000 ounces over the next decade, with production peaking at 569,000 ounces in 2029. Growth is expected to begin this year with a 40% increase in output. Exploration programs are also underway to expand reserves further, including over 25,000 meters of diamond drilling at Sanbrado’s M5 target.

Under Burkina Faso’s new mining code adopted in 2024, the government holds a 15% stake in each project, with WAF controlling the remaining 85%.