SIMEP Drives Côte d’Ivoire’s Strategy to Lead African Gold Production

Abidjan, September 16, 2026 – On the occasion of the closing of the coordination meeting for the operationalization of the Société Ivoirienne des Métaux Précieux (SIMEP), on September 16, 2026, in Abidjan, the Minister of Mines, Petroleum, and Energy, Mamadou Sangafowa-Coulibaly, announced a refining unit with a processing capacity of one hundred tons of gold by the end of the first half of 2027.

"The refining unit will enter into operation by the end of the first half of 2027. At full operational capacity, it will process a quantity of gold almost equivalent to that of projected industrial mines, which is around one hundred tons. By doing so, Côte d’Ivoire should rise to become Africa's leading gold producer by 2035," he declared.

For Minister Mamadou Sangafowa-Coulibaly, SIMEP's mission is to provide a relevant response to the need to structure and master the gold supply and marketing chain. "This is a key link in the rationalization and promotion of small-scale mining currently being established," he highlighted.

He further indicated that SIMEP's scope of activity encompasses the direct operation of semi-industrial mines, the national gold buying desk, gold processing, marketing, and the building of a gold stock on behalf of the State. "Today, we have reached a decisive milestone in the deployment process of our strategy to fully reorganize Artisanal and Small-Scale Gold Mining (ASM), from production to commercialization," he assured, adding that the national buying desk will aggregate gold produced by ASMs using authorized processes while ensuring the traceability of the gold produced.

The marketing of refined gold on the international market will leverage the financial power of StoneX and its seamless connection with key global players in the gold value chain. It will take place under the best possible market conditions, thereby ensuring the maximization of sales revenues and, consequently, a competitive purchase price for raw gold.

According to Souleymane Soro, Deputy Chief of Staff in charge of project coordination, the refining unit will be located in Abidjan, and the company's activities will be deployed across the national territory.

It is worth noting that SIMEP is a state-owned enterprise with public financial participation. Together, the State and SODEMI (Société pour le Développement Minier de la Côte d'Ivoire) hold 49% of the share capital. Total national equity participation stands at 70%.