Gold production in mineral-rich Ivory Coast, a familiar stamping ground of South Africa-born Randgold Resources, is about to move into a higher gear with two new mining start-ups. However, they are unlikely to disturb much of the extensive ( prospectively) gold-rich formations that underlie the country and reach into neighbouring countries Ghana, Mali and Burkina Faso. GK
ABIDJAN (Reuters) – Ivory Coast gold output is expected to reach 22 tonnes in 2016, an increase of around 30 percent from 2014 estimates, due to the start-ups of two new mines, the country’s mines minister said on Thursday.
Ivorian gold production was 15.5 tonnes in 2013 and is due to reach 17 tonnes this year as the cocoa-growing West African nation seeks to encourage development of its long-neglected mining sector in an effort to diversify its economy from agriculture.
The West African country is an economic powerhouse for the region with growth expected to top 9 percent this year, helped by rising foreign investment and increasing demand for commodities.
“We are currently at more than 15 tonnes, and we expect close to 20 tonnes between now and 2015 and 22 tonnes in 2016,” Jean-Claude Brou told reporters at a press conference. Around 140 exploration permits have been allocated, the minister added, which will help expand future production.
Brou said two new mines being built this year were expected to start production by 2016, without giving their names.
Canada’s Endeavour Mining opened its Agbaou gold mine earlier this year, with annual production expected to reach three tonnes. Randgold and Newcrest are other large operators in Ivory Coast’s mining sector.
