By: Ecom news Afrique

In Côte d'Ivoire, gold production is on an upward trend due to the commissioning of new mines, including three in the past two years. To continue this momentum, the country needs new gold discoveries. The government has granted two new mining exploration permits to the company Lagune Exploration Afrique SA. Valid for four years, the authorization given during the Council of Ministers on September 18 focuses on gold exploration in the departments of Méagui, Soubré, Gagnoa, and Lakota.

This development not only highlights the growing interest of investors in Côte d'Ivoire’s gold sector but also the government's commitment to supporting investors in maximizing the country’s mineral resources. This support extends to mine development, as illustrated by a report from S&P Global published in July 2024. The American firm’s analysts studied 268 mining projects worldwide, from discovery to the start of production. According to this study, which covers about twenty countries, Côte d'Ivoire ranks 6th in the world for the fastest time to develop a mine, with an average of less than 20 years, compared to 29 years in the U.S. and 34 years in Zambia.

These factors have allowed Côte d'Ivoire to rapidly increase its gold production through the commissioning of new mines. Gold production rose from 20 tons in 2014 to 51 tons in 2023 and is expected to reach 55 tons in 2024. The granting of new licenses increases the country’s chances of discovering additional deposits to support gold production growth.