Africa's newest gold miner starts output and sees potential IPO

Toro Gold became Africa’s newest gold producer last week when it delivered its first batch of bullion, and the privately held firm is now weighing the possibility of selling shares this year. The company, which achieved the unusual feat of building a bullion mine without tapping public markets for funding, expects to produce about 135 000 oz of the metal a year from the Mako project in Senegal. The mine was built ahead of schedule and came in below the $158-million budget.