Gold: New Mines Emerging in Côte d’Ivoire to Support the Sector’s Boom

Long overshadowed by Ghana and Mali, Côte d’Ivoire has rapidly established itself in recent years as a rising destination for gold exploration in West Africa. The country is now beginning to reap the benefits of this growing attractiveness, with several mining projects reaching maturity simultaneously.

Australian company Aurum Resources released a pre-feasibility study on June 11 for its Boundiali gold project in Côte d’Ivoire, with production expected to begin in 2028. The project adds to a wave of new mines, from Koné to Doropo and Assafou, which are set to significantly boost the country’s gold output before 2030.

The mine plan presented in Aurum Resources’ assessment forecasts production of 1.5 million ounces over 11 years, including 923,000 ounces during the first five years, with an initial investment of USD 342 million (approximately EUR 295.5 million). The company aims to complete the definitive feasibility study by the end of 2026, ahead of first gold production expected in the first half of 2028.

Three new mines in three years

Boundiali is only the latest in a series of projects progressing at a steady pace. In Koné, in north-central Côte d’Ivoire, Montage Gold has already begun construction of what is set to become the country’s largest gold mine, with first production expected by the end of 2026. The mine is projected to produce more than 300,000 ounces per year during its first decade of operation.

Elsewhere in the country, Resolute Mining approved the final investment decision in March for its Doropo mine, which is expected to produce around 169,000 ounces per year over 13 years. Endeavour Mining completed the picture in April with the definitive feasibility study for Assafou, which is expected to add 320,000 ounces per year over the first eight years of a 16-year mine life.

This momentum is already reflected in official projections. The Director General of Mines, Seydou Coulibaly, told Reuters that national production is expected to rise from 59.33 tonnes in 2025 to 62 tonnes in 2026, reaching 69 tonnes in 2028. The country currently has 14 active gold mines, a number expected to increase soon to 15 with the Koné project. At full capacity, Koné, Doropo, Assafou, and Boundiali together represent a theoretical output close to one million ounces per year—around 30 tonnes—although this additional capacity will not immediately translate into national statistics.

Regulatory stability in focus

The wave of new mining projects in Côte d’Ivoire is the result of several years of sustained exploration investment. The government issued 171 exploration permits in 2025, compared to 151 in 2023, reflecting growing interest in a subsoil that remains less explored than neighboring Ghana, Africa’s leading gold producer.

According to the World Exploration Trends 2026 report published in March by S&P Global Market Intelligence, Côte d’Ivoire attracted USD 186 million (approximately EUR 160.7 million) in mining exploration investments in 2025, making it the top destination in Africa in this field last year. This attractiveness is also reflected in the annual survey by the Fraser Institute published in February, where the country regained its position as the most attractive mining jurisdiction in West Africa.

While the goal of 100 tonnes of gold per year by 2030 remains ambitious, it now appears more realistic than in previous years. However, it remains dependent on the effective mobilization of financing, adherence to project timelines, and a consistently favorable regulatory framework.

Since 2024, the government has been working on revising the Mining Code. The new fiscal provisions and state participation levels could apply to projects whose mining conventions have not yet been signed. To secure expected investments, the challenge for authorities will be to strike a balance between increasing state revenue and maintaining an attractive business climate.