By:Ecofinagency

With an annual gold output of 1.10 million ounces in 2024, Endeavour Mining stands as the largest gold producer in West Africa. The London-based mining company is considered a strategic asset for several major shareholders.

The largest of these is La Mancha, an investment company controlled by Egypt’s Sawiris family, which holds an 18.4% stake. Institutional investors make up the majority of Endeavour’s known shareholders. These include global asset managers like BlackRock Investment Management with 12.6%, Van Eck Associates with 8%, and Vanguard Group with 3.9%.

Other shareholders include private investment firm Condire Investors, which specializes in metals and holds 1.5% of Endeavour. Individual investors also play a role, collectively owning 16.5% of the company. As shareholders, these groups influence the company’s decisions and project strategies. For example, businessman Naguib Sawiris serves on the Board of Endeavour as a non-executive director.

A Leading Mining Player in West Africa

Through their stakes, these investors benefit from Endeavour Mining’s performance, which is directly tied to the operations and output of its West African gold mines. Endeavour operates five mining sites across the region, including Ity and Lafigué in Côte d’Ivoire, Houndé and Mana in Burkina Faso, and Sabodala-Massawa in Senegal.

Lafigué, launched in June 2024, is the company’s newest gold mine and plays a key role in reaching Endeavour’s projected 2025 output of between 1.11 million and 1.26 million ounces of gold.

While the host countries do not hold shares in Endeavour Mining’s London-listed parent company, they benefit through free participation stakes in the individual mining projects. Economic benefits also come from taxes, royalties, and community development initiatives.

In 2023, Endeavour Mining reported a total economic contribution of $2.3 billion across the countries where it operates.