Endeavour Mining (LSE:EDV) announced plans on Tuesday to identify between 12 million and 15 million ounces of new mineral resources over the next five years. The gold producer, which trades in both London and Toronto, outlined a projected exploration budget of roughly $540 million for the period.
The company expects discovery costs to come in below $40 per ounce as it works to offset resource depletion and extend the operating lives of its key mines beyond its 10-year target horizon. Endeavour anticipates annual exploration spending to average more than $100 million across the 2026–2030 timeframe, underscoring its long-term commitment to organic growth through exploration.
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