Ivory Coast gold output to reach 22 tonnes by 2016
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.
Around 140 exploration permits have been allocated, the minister adding, and this 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.