Dynacor Group begins plant shipments to Senegal

Executive Summary

• Dynacor Group Inc. has begun shipping its first modular plant units to Senegal as part of its West African expansion, with initial deliveries expected mid-November and phased completion by January.
• The company provided a comprehensive operational update on its Ecuador subsidiary, detailing progress in corporate restructuring, plant refurbishment bidding, and community engagement.
• Dynacor outlined its strategic goal to generate over $1 billion in sales by 2030, representing a 250% increase from 2024 sales, while also advancing formalization proposals in Ghana.

Key Details

• Senegal Plant Shipment: Construction of the 50-tonne-per-day pilot plant is on schedule. The first shipments of the modular plant have departed Durban and are expected to arrive on site in mid-November.
• Senegal Construction Timeline: Phased delivery of remaining containers to the site will continue until January.
• Senegal Site Works: The construction contractor has been mobilized for site works, including access road construction and clearing of the plant area.
• Senegal Engineering: Engineering work for the tailings pond is progressing, based on a completed geotechnical drill program.
• Ecuador Corporate Structure: Dynacor is advancing its corporate framework in Ecuador, focusing on banking, fiscal, and legal systems. Short-term priorities include changing the company name and status.
• Ecuador Tax Strategy: Steps are being taken to avoid the Foreign Exchange Outflow Tax (ISD) for the corporation's transfer of funds abroad.
• Ecuador Legal: Work on an investment protection agreement (IPA) is continuing.
• Ecuador Office: Dynacor plans to open an office in Quito to consolidate its presence.
• Ecuador Operational Refurbishment: Technical assessments of the plant by internal and external parties have yielded aligned results.
• Ecuador Bidding: The request for quote process has commenced for certain items. Bids for major contracts, specifically the Engineering, Procurement, Construction, and Management (EPCM) contract, are expected to be launched in December.
• Ecuador Community Engagement: A three-week community participation process was held in September in the Svetlana host community to present the environmental management plan. The process is complete and pending formal approval from Ecuador's Ministry of the Environment and Energy.
• Ecuador Community Initiatives: Dynacor has begun participating in community events and providing waste management training to local residents.
• Ghana Operations: Formal proposals are being prepared for Goldbod and Ghana's government agencies to classify Dynacor's proposed operations correctly within the country's legal and fiscal framework.
• Financial Outlook: The expansion is expected to generate more than $1 billion (U.S.) in sales by 2030, a more than 250% increase on 2024 sales.

Notable Quotes

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