Resolute Mining (LSE:RSG), the West Africa-focused gold miner, cut its 2026 production guidance for the Syama Gold Mine in Mali to 150,000 to 160,000 ounces, down from prior expectations.
The revision follows persistent disruption to underground mining, open pit operations and sulphide processing since the second quarter, driven by Mali's challenging operating environment.
All-in sustaining costs (AISC) at Syama are now expected to reach $2,300 to $2,400 an ounce for the year, against a $4,000 an ounce gold price assumption.
Group-wide, Resolute now expects 2026 gold production of 205,000 to 225,000 ounces at an AISC of $2,250 to $2,350 an ounce.
July and August gold output totalled just 15.5koz, well below expectations, as explosive supply shortages during the wet season forced substitution with ANFO and delayed access to higher-grade ore at the A21 open pit.
Resolute has switched open pit mining contractors and is building an onsite emulsion plant to secure explosives supply, with commissioning targeted for November.
September production is tracking at around 15koz, with third-quarter output expected near 31koz and a fourth-quarter recovery to 45,000 to 50,000 ounces.
Elsewhere, the Mako mine in Senegal remains on track for 55,000 to 65,000 ounces, and construction at the Doropo project in Côte d'Ivoire remains on schedule and on budget, with first concrete due next month.
"While the near-term impact at Syama is disappointing, the broader business remains supported by a strong gold price environment and disciplined cost management", chief executive Chris Eger said.
News Intelligence what this means for the company
Resolute Mining has cut 2026 Syama production guidance to 150,000–160,000 ounces—down from prior expectations—after supply chain disruptions in Mali's challenging operating environment hit underground and open pit operations since Q2. The revision is material: July–August output of just 15.5koz fell well short of plan, driven by explosive shortages during the wet season that forced lower-grade substitutes and delayed access to higher-grade ore; the company is building an onsite emulsion plant (commissioning targeted November) and switching contractors to recover, but near-term recovery remains uncertain with Q3 tracking at only 31koz and Q4 expected at 45,000–50,000 ounces.
Syama's cost profile remains supportive—AISC of $2,300–$2,400 per ounce sits well below the $4,000 gold price assumption—but the production miss and operational friction in Mali underscore execution risk at the company's largest asset. The Mako and Doropo projects remain on track, but Syama's near-term weakness narrows near-term cash generation and delays the ramp-up of group production.
Insights assembled by AI. Editor-reviewed and grounded in tickstock’s coverage and proprietary knowledge graph.
Content is for informational purposes only, not financial advice.
