Endeavour Mining profit multiplies after strong first-half production
Endeavour Mining PLC on Thursday reported a surge in profit for the first half of 2025 as gold production and realised prices ticked up.
The London-based gold producer in West Africa said pretax profit multiplied to $759 million in the six months that ended June 30, from $63 million a year prior.
Revenue from continuing operations was near-double the previous year at $2.05 billion, compared to $1.03 billion. Revenue was slightly lower in the second quarter than the first. It decreased to $1.01 billion in three months to June 30 from $1.04 billion in the three months to March 31.
Endeavour Mining produced 647,000 ounces of gold in the half-year, 38% higher than 470,000 ounces the previous year. All-in sustaining costs were $1,281 per ounce, up 4% from $1,237.
During the six-month period, the average realised gold price rose to $2,953 per ounce from $2,167 per ounce on-year.
Endeavour Mining declared a ‘record’ first-half dividend of 62 US cents per share, up 51% from 41 cents in 2024.
Poduction is on track to meet full-year guidance of between 1.1 million and 1.3 million ounces of gold, with an all-in-sustaining-costs range of $1,150 to $1,350 per ounce. In 2024, total production came to 1.1 million ounces at an AISC of $1,218 per ounce.
‘We are very pleased with the operational performance we have delivered from our expanded portfolio and our ability to convert that performance into cash flow. Our high-margin, long-life operations, coupled with our exciting organic growth pipeline positions us well to continue delivering against our strategic objectives,’ commented Chief Executive Ian Cockerill.
Endeavour expects to complete a definitive feasibility study for the Assafou mine in Ivory Coast by early 2026, noting ‘the permitting process is well advanced’. According to pre-feasibility results released by the company in December, Assafou has the potential to produce 329,000 ounces of gold annually for the first ten years at AISC of $892 per ounce.
Endeavour Mining shares were up 1.7% at 2,372.00 on Thursday morning in London.
Copyright 2025 Alliance News Ltd. All Rights Reserved.