Resolute profit surges on the back of gold prices despite output drop
(Alliance News) – Resolute Mining Ltd on Friday says it expects a ten-fold increase in net profit as well as rising revenue in 2025, as gold’s performance and a divestment from Loncor Gold boosted its upcoming full-year results despite lower production at its Mali and Senegal mines.
The Australia-based gold mining company, reported total revenue of USD856.6 million last year, up 6.9% from USD801 million a year prior.
Pretax profit surged over ten-fold to USD211.9 million from USD19.1 at the end of 2024.
The company also said that its earnings before interest, tax, depreciation, and amortisation grew 23% year-to-year to USD391.6 million from USD319.5 million “primarily due to higher revenue of USD858.6 million from gold sales” and “a reduction in operating costs at both Syama and Mako”, their Mali and Senegal mines respectively.
Higher gold prices had the biggest share in lifting the results, as Resolute said it sold 258,544 ounces of gold in 2025 compared to 335,708 ounces a year prior, a 23% drop. However, it sold them at an average price of USD3,338 per ounce, up 40% from 2024 average of USD2,383.
The Syama mine alone produced 18% less gold than in the prior year ” due to lower head grades at both the sulphide and oxide plants. This was due to increased use of stockpiled material and lower mined grades in the sub-level cave,” the company said.
Senegal’s Mako mine instead produced within the revised guidance range despite lower production as an open pit mining ceased in the second quarter of 2025, with operations transitioning to stockpile processing.
The gold production company also noted it was granted a 14-year mining permit in the Ivory Coast earlier this month “which supports the company’s strategy to increase annual gold production to more than 500,000 ounces by the end of 2028”, and that it completed the sale of Loncor Gold for a total consideration of USD31.4 million on February 11.
Resolute shares closed unchanged at 78.00 pence each on Friday in London.
By Martin Miraglia, Alliance News reporter
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