Senegal partners with Managem and Barrick to expand Gold exploration

The Moroccan mining company Managem and Canadian gold mining company Barrick Gold Corporation have announced a partnership to explore gold deposits in Senegal.

This collaboration will focus on three gold exploration permits—Daorala, Noumoufoukha, and Faraba—covering a total area of 820 square kilometers.

Situated within a highly prospective geological region stretching from western Mali to eastern Senegal, these sites have already witnessed significant gold discoveries, making them prime targets for further exploration.

Under the agreement, Barrick Gold will invest $7.5 million in the first two years to conduct preliminary exploration activities and assessments. If initial results are promising, the company will allocate an additional $15 million between the third and seventh years. The goal is to complete a pre-feasibility study confirming the presence of at least 2 million ounces of gold. The success of this project could significantly enhance Senegal’s gold industry, attracting further investment into the country’s mining sector.

Managem emphasized that the deal is subject to approval from Senegal’s Ministry of Energy, Petroleum, and Mines. Once approved, it is expected to contribute to the development of the research permits and create new opportunities in the local economy.

Both Managem and Barrick Gold bring unique strengths to the venture—Managem provides deep local knowledge and regional expertise, while Barrick contributes world-class geological experience and financial stability.

Senegal has a rich history of gold mining, with deposits scattered across the country. The Sabodala Gold Mine, one of the largest in Senegal, has already established the country as a key player in Africa’s gold industry. The combined efforts of both Barrick Gold and Managem aim to accelerate gold exploration and unlock Senegal’s mining potential.

In addition to economic benefits, both companies have pledged to adhere to sustainable mining practices, ensuring that operations align with international environmental and social responsibility standards.