S&P/ASX 200 Index (ASX: XJO) gold share West African Resources Ltd (ASX: WAF) is poised to double its annual gold production to more than 420,000 ounces per year, the miner reported this morning.
The West African share price has been enjoying strong tailwinds over the past year from the soaring gold price.
Although the ASX 200 gold share is taking a tumble today amid a pullback in the global Trump tariff campaign, the gold price is down 2.6% since Friday at US$3,237 per ounce as investors rebalance their portfolios amid progress in the US-China trade talks.
It also sees the West African share price down 7.4% today, with shares trading for $2.24 apiece. Longer term, shares remain up 54.5% since this time last year.
For some context, the ASX 200 is up 0.9% today and up 7.2% in a year. While the S&P/ASX All Ordinaries Gold Index (ASX: XGD) is down 5.9% today and up 45.1% in a year.
Now, here's how West African is set to double its gold production.
Image source: Getty Images
ASX 200 gold share on the growth path
In an update this morning on its Kiaka Gold Project, located in Burkina Faso, the ASX 200 gold share reported that mining operations at the project are "well underway", with the ramp-up of mining volumes progressing on schedule.
Management said that all of the major mining equipment – including three 200 tonne excavators and ten 140 tonne haul trucks – are now on site.
The gold miner has also completed construction of the ROM (Run of Mine) pad. This is the storage area where raw ore is stockpiled before being processed.
Other achievements to date include completion of the crushing circuit commissioning, and the wet plant construction has been finished.
What did management say?
Commenting on the progress that's set to double the ASX 200 gold share's annual output, CEO Richard Hyde said, "Construction of Kiaka continues to progress on time and on budget for first gold in Q3 2025."
Hyde added:
The Kiaka crushing circuit is complete and operational, commissioning of the wet plant is well underway. Kiaka's mining fleet is now operational with three 200t excavators and the initial ten 140t trucks operational.
Mining activities are ramping up ahead of scheduled commencement of process plant operations and first gold in Q3 2025.
With the Kiaka build nearing completion, WAF is on the cusp of having two long-life, unhedged, low-cost gold production centres in operation in 2025, which will see WAF more than double annual gold production to over 420,000 ounces per year.
