Ivory Coast to revise mining code to increase state profits (updated)

Perseus Mining

01/07/2024 18:31

(Adds details in paragraphs 4-6)
       ABIDJAN, July 1 (Reuters) - Ivory Coast is planning to
revise its mining code in order to increase state profits, the
country's mines minister Mamadou Sangafowa Coulibaly said on
Monday.
    The world's top cocoa producer, is seeking to develop its
long-neglected mining sector to diversify its income sources.
The west African country's mining code was last revised in 2014.
    "For the benefit of the state, for the benefit of mining
companies, for the benefit of the population, this code deserves
to be revised," the minister said.
    In five years, Ivory Coast's gold output could reach at
least 100 metric tons per year, he added.
    Its gold output hit a record high in 2023, helped by the
opening of new mines, and is expected to continue to grow.
    Mining companies operating in Ivory Coast include Barrick
Gold  ABX.TO , Endeavour  EDV.AX  and Perseus mining  PRU.AX . 

 (Reporting by Loucoumane Coulibaly; Editing by Anait
Miridzhanian, Chris Reese and Alexander Smith)
 ((Anait.Miridzhanian@thomsonreuters.com;))