Côte d’Ivoire: Invaluable economic potential with the discovery of a gigantic gold deposit
In an announcement that has captured worldwide attention, Côte d’Ivoire reveals itself to be the site of a spectacular discovery: a world-class gold deposit. With an estimated 5 million ounces, approximately 155.5 metric tons of gold, and an average grade of 0.72 g/t, this find was unveiled by the President and CEO of the Canadian company Montage Gold, Martino de Ciccio, following a meeting with President Alassane Ouattara in Abidjan.
Martino de Ciccio proudly expressed, « Today, it is with great pride that we announce the discovery of the Koné project. That’s 5 million ounces, or 155.5 metric tons of gold, with an average grade of 0.72g/t ». This revelation marks the beginning of a new era for the mining industry in Côte d’Ivoire and promises significant economic benefits to the nation.
Plans to exploit this precious deposit are already underway. Construction of the mine, estimated to have a lifespan of twenty years, will begin in the last quarter of 2024, with production expected to commence in 2027. The annual processing capacity of the Koné project’s plant will reach 11 million tonnes of ore, making this facility the third-largest in West Africa, after those in Burkina Faso and Guinea.
The economic impact of this project is considerable. An initial investment of 400 billion CFA francs will be mobilized, generating the creation of 4.500 direct and indirect jobs. Additionally, social initiatives will be funded for the benefit of local populations, demonstrating a commitment to sustainable development and social inclusion.
This discovery represents more than just a geological wealth. It embodies the hope of shared prosperity and a better future for Ivorian communities. With responsible and transparent management, the Koné project could not only transform the national economy but also contribute to the sustainable socio-economic development of the region.
