Opening of new mines boosts Ivory Coast 2023 gold output

Perseus Mining

06/06/2024 16:24

ABIDJAN, June 6 (Reuters) - Ivory Coast's gold output
hit a record high in 2023, helped by the opening of new mines,
and will continue to grow further, mines minister Mamadou
Sangafowa Coulibaly said on Thursday.
    Ivory Coast, the world's top cocoa producer, is seeking to
develop its long-neglected mining sector to diversify its
sources of income.
    Gold output has been climbing steadily for several years and
is expected to reach 56 metric tons this year, Coulibaly told
reporters at a press conference.
    Last year, it rose to 51 tons, up over 6% from 48 tons in
2022. 
    Mining companies operating in Ivory Coast include Barrick
Gold  ABX.TO , Endeavour  EDV.AX  and Perseus mining  PRU.AX .
    In September, Canada's Roxgold  FVI.TO  opened its gold mine
in the north-western region, aiming to produce about 130,000
ounces of gold per year.
    Barrick Gold said in July that its Tongon mine, whose output
was expected to rise above 200,000 ounces of gold in 2023, would
continue operating until at least 2030 following a significant
discovery of new deposits.
    At the meeting with reporters, Coulibaly also said that two
electricity generating units with a capacity of 488 MW were shut
down, forcing the country to reduce its power exports to
neighbouring countries.
    Ivory Coast's total electricity capacity is currently 2,907
MW, he said, adding that by 2030 the country will become a net
oil exporter, without providing any figures.

 (Reporting by Loucoumane Coulibaly;
Editing by Anait Miridzhanian and David Evans)
 ((Anait.Miridzhanian@thomsonreuters.com;))