Extractive Resources: “Côte d’Ivoire Will Become Africa’s Leading Gold Producer Within Five Years,” Announces Minister Mamadou Sangafowa-Coulibaly

Within the next five years, Côte d’Ivoire will position itself as Africa’s leading gold producer, announced the Ivorian Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly, on Saturday, October 4, 2025, at Sciences Po Paris.

He was speaking during a panel organized by the Africa-France Foundation as part of the second edition of Africa Day, under the theme: “African Mining at the Heart of the Energy Transition.”

“Thirty-five percent of the Birimian rock in West Africa, commonly known as ‘greenstone’ and recognized for its gold content, is located in Côte d’Ivoire,” stated the minister, addressing an audience of students and business leaders.

Recalling that Ivorian gold production has increased fivefold in less than ten years, Sangafowa-Coulibaly highlighted the distinctiveness of the Ivorian mining model, which is 100% driven by the private sector.

“The State does not invest. According to the Ivorian Mining Code, the State grants exploration and exploitation permits while maintaining a free participation of 10 to 15% in the projects. The remaining financing is raised by private operators,” he explained.

The minister also emphasized the country’s favorable conditions that continue to attract investors — including over fifteen years of political and economic stability, high-quality infrastructure, a skilled human capital with world-class geologists, and guaranteed access to electricity and road networks.

He pointed to Côte d’Ivoire’s attractive investment environment and incentive tax regime, noting the country’s administrative efficiency:

“Between initial discovery and production, it takes on average less than five years in Côte d’Ivoire, compared to ten to twenty years in developed countries,” he said.

According to Sangafowa-Coulibaly, this entire strategy aligns with President Alassane Ouattara’s vision, which considers that “the time has come to leverage extractive resources to meet the country’s growing development needs.”

On the sidelines of the panel — co-moderated by Lawrence Dechambenoit (Head of Global Strategy and Government Relations at Rio Tinto) and Valery Levkov (Global Director for Energy, Metals, Mining, and Sustainable Infrastructure at the IFC) — the minister also held several meetings, notably with the CEO of the Axian Group and Ivorian students from Sciences Po, HEC, Polytechnique, and École Polytechnique (L’X).