The Moroccan mining group Managem and Canadian giant Barrick Gold Corporation have announced a strategic partnership to develop gold exploration projects in Senegal. The agreement focuses on three key research permits—Daorala, Noumoufoukha, and Faraba—spanning an impressive 820 km².
As part of this collaboration, Barrick Gold has committed to investing $7.5 million over the first two years to finance preliminary exploration and evaluation activities. If initial results prove promising, the company will inject an additional $15 million between the third and seventh year. The ultimate goal? To confirm a minimum gold potential of 2 million ounces through a pre-feasibility study.
For Managem, this deal is a major milestone in its expansion strategy across West Africa, reinforcing its position in gold extraction and mineral development. Meanwhile, Barrick Gold, already active in the region, continues to strengthen its footprint by exploring new gold deposits, underscoring its confidence in Senegal’s mining potential.
According to a statement from Managem, this partnership aims to leverage both companies’ expertise in mineral exploration and development to maximize available resources. However, the project’s success will hinge on the results of exploration phases and feasibility studies in the coming years.
If the objectives are met, these projects could significantly boost Senegal’s gold production, create economic opportunities for local communities, and further establish the country as a key player in Africa’s gold mining sector.
