Ivory Coast strengthens its position in the gold market with strategic discoveries.
The Ivorian mining sector continues to reveal its potential with the announcement on November 26, 2024, by Ian Cockerill, CEO of the Canadian group Endeavour Mining, of the discovery of a world-class gold deposit in Tanda, in the northeastern part of the country. This announcement was made following a meeting with President Alassane Ouattara, highlighting the strategic importance of this discovery for the national economy.
The new Tanda deposit promises an estimated annual production of 11 tons, with total reserves evaluated at 150 tons. This project, which will mobilize an investment of 530 billion CFA francs, is also expected to generate 4,000 direct and indirect jobs, thereby contributing to the dynamism of the local and national economy. This discovery comes six months after the Koné project, located in the north of the country, which remains the most significant national gold find to date, with reserves estimated at 5 million ounces, or 155.5 tons of gold.
It is worth noting that gold production in Côte d'Ivoire has more than doubled in ten years, increasing from 20 tons in 2014 to 32.5 tons in 2019, and surpassing 50 tons in 2023. This production is expected to continue to improve, with the inauguration last month of the 15th industrial mine in Lagué, in the Dabakala department.
Thus, the commencement of production from these two major world-class discoveries made in 2024 marks a significant milestone for the Ivorian mining sector. These projects are expected to enable Côte d’Ivoire to consolidate its position among the leading gold producers in Africa, while stimulating job creation and increasing the state’s tax revenues.
With a national gold potential estimated at 600 tons, Côte d’Ivoire continues to demonstrate its attractiveness and competitiveness on the international stage, thereby strengthening the foundations for sustainable and inclusive economic growth.
Source : SIKA Finance, MEPD Web Portal Editorial Team
