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Canadian miner Montage Gold inaugurated the Koné gold mine in north-western Côte d’Ivoire on 12 November 2026, at a ceremony chaired by Vice Prime Minister and Defence Minister Téné Birahima Ouattara. The company puts its investment at more than 580 billion CFA francs.
Key points
- The event: official inauguration of the Koné mine, which began production on 26 September 2026.
- The investment: more than 580 billion CFA francs, according to Montage Gold.
- Capacity: an 11-million-tonne-a-year plant and more than 300,000 ounces of gold a year over the first eight years, according to the 2024 feasibility study.
- The state: nearly half of the mine’s revenue over its life, estimated at more than 16 years, according to the company.
The ceremony was attended by Mines, Petroleum and Energy Minister Mamadou Sangafowa-Coulibaly, local officials, community representatives and site employees, according to a press release distributed on 13 November by African Media Agency on behalf of Montage Gold, which is listed on the Toronto Stock Exchange.
The mine poured its first gold on 26 September 2026, less than two years after the foundation stone was laid and ahead of the original schedule, as Financial Afrik reported at the time. Montage Gold describes Koné as the country’s largest producing gold mine by processing plant capacity.
A low-grade project that relies on infrastructure
In his speech, Montage Gold chief executive Martino De Ciccio stressed Côte d’Ivoire’s regulatory environment. « Investor confidence rests on the stability of the legal, regulatory and tax framework, » he said, adding that for a low-grade deposit such as Koné it also depends on the infrastructure the country has built.
According to the company, construction created more than 3,600 jobs, over 95% held by Ivorians and more than 30% by people from nearby localities. More than 1,000 community members have been hired and 1,500 people have taken part in literacy programmes. Montage Gold also cites the rebuilding of the Dolorougokaha settlement, health and drinking water facilities and poultry farms. More than 27 billion CFA francs is to be allocated to affected villages through the Local Mining Development Committee, with no timetable given in the press release.
A second mine in view
The group says it intends to reinvest its revenue in Côte d’Ivoire to build a second mine and continue exploration. It states that Koné’s resources have been increased from 5 to 8 million ounces. Its West African portfolio also includes the Didievi project, acquired with African Gold in April 2026, the Wendé property in Côte d’Ivoire and more than 2,100 km² of exploration permits in Mauritania.
These figures come from the company. Actual output in the first months of operation and the timetable for the second mine have not been detailed at this stage. Elsewhere in the region, other gold projects are moving forward, such as the future Diamba Sud mine in Senegal, which will be powered by a 14 MW plant, amid a continental debate on making the most of Africa’s mineral resources.
Photo: DR / Montage Gold
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