PDI Gold, a mining company operating in Guinea, has made significant strides in its Kiniéro mine, which began production in February 2026. According to Matthew Wilcox, CEO of PDI Gold, the mine has exceeded its nominal capacity, producing over 139,000 ounces of gold annually. The company's costs of production are competitive, with an all-in sustaining cost (AISC) of $1,100 to $1,300 per ounce. This performance demonstrates the strength of the asset and the team's ability to effectively bring the project into production.
The Kiniéro mine is expected to operate for nine years, but the company is conducting further exploration to extend its lifespan. In 2026, PDI Gold embarked on an extensive exploration program, which includes approximately 133,000 meters of drilling across nearly 1,500 holes. The program aims to expand the oxidized resources near the mine and explore new targets. By combining the extension of the current deposit and new discoveries, the company hopes to prolong the mine's life.
PDI Gold aims to increase its annual gold production to 400,000 ounces by 2029. To achieve this goal, the company is focused on developing the Bankan project. The project is awaiting an exploitation permit, which is currently under review by the government. Once the permit is granted, PDI Gold expects to take about two years to construct the mine and achieve commercial production by the end of 2028. The ramp-up of Bankan is expected to boost the company's combined production to over 400,000 ounces of gold per year by 2029.
The Guinean government has expressed support for PDI Gold's operations, and the company has made efforts to engage with local communities. During a recent visit, ministers Bouna Sylla and Moussa Moïse Sylla highlighted the quality of PDI Gold's partnership with the state and its commitment to local content. The company has a strong relationship with the government, which provides the necessary visibility to plan and secure investments. PDI Gold estimates that over $6 billion will be contributed to the Guinean state in the form of dividends, taxes, royalties, and local development funds over the life of the Kiniéro and Bankan projects.
PDI Gold has a significant presence in Guinea, with 2,132 direct and indirect jobs, of which 92% are held by Guineans. The company is committed to increasing the representation of Guinean nationals in leadership and engineering positions through training and capacity-building programs. The Bankan project, considered one of the largest undeveloped gold deposits in Africa, is expected to generate significant economic benefits for the country.
The environmental impact study for the Bankan project was completed in January 2025, and the company is awaiting the exploitation permit. PDI Gold is prepared to begin construction once the permit is granted. The company's cash flow from Kiniéro is expected to fund the construction of Bankan, eliminating the need for a major capital raise.
PDI Gold's merger with Robex Resources has provided the company with a solid financing capacity. The cash flow generated by Kiniéro and Nampala is expected to cover the majority of the costs associated with building Bankan. This self-financing capability is a significant competitive advantage for PDI Gold compared to other junior gold developers.
Key points
- * PDI Gold's Kiniéro mine has exceeded its nominal capacity, producing 139,000 ounces of gold annually. * The company aims to increase its annual gold production to 400,000 ounces by 2029 through the development of the Bankan project. * PDI Gold expects to fund the construction of Bankan using cash flow from its existing operations, eliminating the need for a major capital raise.
