- Authorities grant fresh permits to Canadian, Omani and local firms
- Output projected to hit 65 tonnes in 2025 as investors flock to West Africa
ABIDJAN, CÔTE D’IVOIRE – Côte d’Ivoire has granted six new gold exploration permits as the West African nation accelerates efforts to cement its position as a leading mining destination, diversifying an economy long reliant on cocoa.
The Ministry of Mines and Energy said the decision was part of a broader push to stimulate exploration and attract investment in “a strategic sector of the national economy.”
Canadian junior Waraba Gold, through its subsidiary Somaco Global Resources, secured rights in the northern Tengréla department, even as the company suspends operations in Mali due to security risks.
Another Canadian firm, Gold Finders, obtained a licence covering Abengourou, Agnibilékro and Koumfaou in the east.
Australia’s Perseus Mining, Omani operator Alpha Mining, and local firms Viroc Mine Roll and Laudi Exploration were also awarded permits.
Gold at the heart of diversification
For decades, Côte d’Ivoire’s economy has been dominated by cocoa, of which it is the world’s top producer. But with output stagnating and new discoveries reshaping the mining map, gold is taking centre stage.
“The government has awarded about 20 mining permits so far this year. There are more than 50 under review,” said Bertrand Gnahoré, project director at the National Polytechnic Institute in Yamoussoukro.
“I think there are two things to note here. The authorities are now taking very seriously the mining sector after many years of neglect. Secondly, potential investors are attracted to Côte d’Ivoire because of the conducive business environment and the favourable investment laws,” he told Allen Dreyfus.
Last year, Montage Gold discovered Côte d’Ivoire’s largest gold deposit, the Koné Project, followed by another major find in the northeast by Endeavour Mining Group.
Rising output and investor appeal
Côte d’Ivoire produced 48 tonnes of gold in 2022, rising to 50 tonnes in 2023 and 59 tonnes in 2024. Production is forecast to reach 65 tonnes in 2025, according to official data.
“The good thing here is that the Ivorian government does not interfere with the activities or operations of gold mining companies. The country’s mining code does not allow that. This helps companies to work in peace, unlike what we are observing in neighbouring countries. I believe that is why there has been an influx of potential investors in the Ivorian gold sector,” Gnahoré said.
Currently, cocoa contributes 15% to 20% of GDP, while the mining sector makes up about 5%. Authorities hope to lift the mining share to 6% in 2025.
A recent study by Canada’s Fraser Institute ranked Côte d’Ivoire as the most attractive jurisdiction for mining investment in West Africa, underlining its ambitions to rival Ghana and Mali as a gold powerhouse.
