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Endeavour Mining PLC on Thursday noted higher production in 2024, but nonetheless lowered its final dividend amid climbing debt. The London-based mining company focused on West African gold produced 1.10 million ounces of the mineral during 2024, compared to 1.07 million ounces the year prior. The company has set 2024’s final dividend per share at 57 US cents, down 30% from 81 US cents the previous year. Nonetheless, Endeavour was keen to point out a ‘record’ second-half dividend per share of 57 US cents, up 39% from 41 US cents the year prior. Endeavour’s shares rose 2.1% to 1,574.00 pence each on Thursday morning in London. The gold miner claimed to end 2024 in a ‘strong’ position, despite reporting net debt at December 31 of $732 million, a 32% rise from $555 million at the end of 2023. Endeavour estimated a leverage ratio below 0.60x at December 31, down from 0.77x at September 30. The company maintained it was on track to meet its long-term target ratio of below 0.50x leverage. For 2025, Endeavour’s production guide is between 1.10 million and 1.26 million ounces of gold. This reflects up to 15% growth on 2024’s 1.10 million ounces. The company expected growth to be evenly distributed across its various sites in Burkino Faso, Senegal and the Ivory Coast. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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