Managem has reached a significant milestone with the first gold pour at its Boto mine, located in Madina Baffé in Senegal’s Kédougou region. This marks the official launch of production at the site, following more than two years of construction and development. It’s a pivotal achievement for the Moroccan mining group, underscoring its long-term strategy to strengthen its footprint in West Africa by betting heavily on gold.
The Boto project stands out as one of Senegal’s largest industrial investments, with a total cost of 350 million euros. Over the first three years of operations, the mine is expected to yield an average of 160,000 ounces of gold annually—close to five metric tons per year. Total proven reserves are estimated at 1.8 million ounces, or roughly 56 metric tons, giving the site an anticipated life span of twelve years.
Built as a large-scale open-pit operation, the mining complex is equipped to process up to 35 million tonnes of rock annually. Its processing plant can handle 2.75 million tonnes of ore per year. The site also features a wide range of modern infrastructure, including a 23-megawatt power plant, a water dam, a tailings storage facility, a fuel depot, residential quarters, an airstrip, and a fully developed road network to support the operation.
During the construction phase, the project generated over 2,500 jobs—90% of which were filled by Senegalese workers. In the long run, the mine is expected to create more than 1,500 direct and indirect jobs, bringing a significant boost to local economic and social development. Managem has also launched community programs aimed at expanding access to clean water, healthcare, vocational training, and employment opportunities, particularly for young people and women. These initiatives also include support for local income-generating activities.
Imad Toumi, Chairman and CEO of Managem, described the start of production at Boto as the realization of a long-held ambition. He emphasized that the project reflects the group’s commitment to becoming a leading gold producer in West Africa. Toumi credited the success of the venture to the dedication of Managem’s teams and the close cooperation with Senegalese authorities.
