Reserves and Resources

We are committed to delivering sustainable organic growth by responsibly developing our resources and reserves.

Nordgold’s strong balance sheet and focus on consistent free cash flow generation enables us to invest in our globally diversified asset base across four continents and six countries. This commitment also ensures we are well placed to deliver on our exciting pipeline of high-quality exploration and development projects.

Outstanding track record in reserves replacement.

Our first-class exploration programme is key to providing the platform to drive continued organic growth. In 2015–2020, Nordgold added 6.5 Moz of ore reserves, while 5.3 Moz of gold were mined out, delivering addition of net gold reserves of 1.2 Moz. As a result, Nordgold’s ore reserves increase to 15.2 Moz of gold as of the end of 2020, up from 14.0 Moz at the end of 2015.

Our continuous focus on exploration supports steady resources growth.

Following a highly successful US$185 million investment in exploration programmes in 2016-2020, Nordgold’s total mineral resources (inclusive of reserves) increased by 14.7 Moz of gold to 43.2 Moz as of the end of 2020, up from 28.5 Moz in 2015.

For more information, please download our 2020 Competent Person’s Report (CPR).(25.63 Mb).