The gold miners had a dispute over two mines in Burkina Faso
Endeavour Mining has signed a settlement agreement with Lilium Mining over the divestment of the Boungou and Wahgnion mines in Burkina Faso.Lilium will transfer ownership of the mines to Burkina Faso, while Endeavour will receive $60 million and a 3% royalty on up to 400,000oz of gold sold from the Wahgnion mine.In June 2023, Endeavour agreed to sell its 90% interest in the mines to Lilium for $300 million to focus on its "higher quality assets".
In turn, Lilium accused Endeavour of misrepresenting the projects and leaving out essential information on the financial and operational status of the assets.In January, Endeavour fired its chief executive, Sébastien de Montessus, for alleged serious misconduct related to irregular payment during the sale of the Agbaou mine in Côte d'Ivoire. According to Lilium, its suspicions of misrepresentation were confirmed by the dismissal of Montessus.
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