Ivory Coast: New Gold Prospecting Authorizations in Four Departments

A booming gold sector

Côte d’Ivoire continues to record a significant increase in its gold production, notably thanks to the opening of new mines, including three in the last two years. To maintain this pace, the country must explore new territories in search of promising deposits. It is with this in mind that the government has granted two mining exploration permits to the company Lagune Exploration Afrique SA. These permits, valid for a period of four years, concern the departments of Méagui, Soubré, Gagnoa and Lakota, marking an important step in the strategy to increase gold production.

Strong government support and an attractive framework for investors

The granting of these new licenses reflects the commitment of the Ivorian authorities to support investors in the exploration and development of the country’s mineral resources. This support has enabled Côte d’Ivoire to distinguish itself by the speed of its mining development. According to a report published by S&P Global in July 2024, Côte d’Ivoire ranks 6th in the world for the speed of commissioning new mines, with an average time of less than 20 years, compared to 29 years in the United States and 34 years in Zambia.

Gold production is constantly increasing

Thanks to these initiatives and the opening of new mines, gold production in Côte d’Ivoire has increased from 20 tonnes in 2014 to 51 tonnes in 2023. The forecast for 2024 is for production to reach 55 tonnes. The allocation of new research permits strengthens the prospects for new discoveries of deposits, essential to support this continued growth in the gold sector.

Conclusion

Côte d’Ivoire is increasingly positioning itself as a key player in the gold industry in Africa. The granting of new exploration licenses and active government support provide a favorable environment for investors, allowing the country to increase its production and capitalize on its mineral resources.