One of the largest gold deposits in the world found in this West African country

Ivory Coast, already known for its significant oil and gas reserves, has just made a new discovery that could change its economic landscape.

Just a few months after the start of oil and gas production, the country announced the discovery of a gold deposit in the northwest, which is a real boon for the Ivorian economy. With resources estimated at 155.5 tonnes of gold, this project could become one of the largest gold mines in West Africa.

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A major discovery in the mining sector of Ivory Coast

The “Koné Project”, as it is called, is located in the departments of Kani and Dianra, in the northwest of Côte d’Ivoire. According to the mining group Montage Gold, which carried out the research, it is a “large deposit” with a content of 0.72 g of gold per ton. The annual production capacity is estimated at 11 million tons, for a working life of 20 years. This discovery is part of a wider sub-regional geological context, marked by the presence of two other important gold deposits in Burkina Faso and Guinea. “This discovery in Côte d’Ivoire will make the country attractive and attract other companies,” emphasizes the mining sector expert.

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Promising economic impacts

The start of production from this gold deposit should have significant economic benefits for Côte d’Ivoire. Almost 4,500 direct and indirect jobs are expected to be created, providing new employment opportunities in a region where unemployment remains high. Apart from the employment aspect, this discovery should also bring significant revenue to the Ivorian state. Royalties and taxes related to the exploitation of mines will contribute to the public coffers, which will enable the financing of development projects in key sectors such as education, health or infrastructure.

A logistical and security challenge to face

Although promising, the exploitation of this gold deposit is not without its challenges. First of all, the site must be secure in order to prevent any risk of robbery or conflicts related to exploitation. The construction of an ore processing plant also represents a significant logistical challenge, which requires significant investment in infrastructure.Furthermore, the operation of this mine must take place with respect for the environment and local communities. The Ivorian authorities will need to ensure that the local population fully benefits from the project’s economic benefits, while ensuring that environmental impacts are controlled.

A lever of economic diversification

Apart from the immediate economic benefits, the discovery of this gold deposit could also play a key role in the diversification of the Ivorian economy. Historically, the country has long depended on its agricultural exports, especially cocoa and coffee. This new windfall from gold could therefore make it possible to reduce this dependence and strengthen the resilience of the economy in relation to fluctuations in world prices.

An opportunity to attract new investments

Finally, this discovery could also serve as leverage to attract new foreign investment in the mining sector of Ivory Coast. According to sector experts, “this discovery in Côte d’Ivoire will make the country attractive and attract other companies”. This could open the way to new opportunities for research and exploitation, which would contribute to the diversification and modernization of the country’s economy.

Impact on the world gold market

Bringing this mine into production could increase the global supply of gold and potentially affect global prices. If production reaches the announced volumes, it could lead to a drop in gold prices, making this precious metal more affordable and changing the dynamics of the international market.

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This article explores the discovery of a large gold deposit in northwestern Ivory Coast, a discovery that could change the country’s economy. With resources estimated at 155.5 tons of gold and an annual production capacity of 11 million tons, this “Koné project” is considered a “major deposit” that should attract new investment in the mining sector in Ivory Coast.