Ivory Coast Issues 11 New Mining Permits to Accelerate Mineral Exploration and Economic Diversification.

Ivory Coast has recently awarded 11 new mining exploration permits to domestic and international firms targeting gold, cobalt, and copper, signalling the country's intent to attract additional investment to its rapidly growing mining industry. This move was confirmed by government spokesperson Amadou Coulibaly following approval at a cabinet meeting on Wednesday. As the world's leading cocoa producer, Ivory Coast is now positioning itself as a stable and favourable destination for mining investment, especially as neighbouring countries such as Mali, Burkina Faso, and Niger face increasing regulatory uncertainties due to military control over their mineral resources.

The granted exploration permits, valid for four years, include eight specifically for gold mining. Among the beneficiaries are Resolute Exploration Côte d’Ivoire, currently developing the Doropo gold mine in the north, and Tieto Minéral, which operates the Abujar gold mine near Abidjan. The remaining three permits focus on chrome, manganese, nickel, cobalt, and copper exploration. Ivory Coast's gold output has seen a significant rise from 10 metric tonnes in 2012 to 58 tonnes in 2024, with projections for 62 tonnes in 2025, largely driven by new mining projects like Lafigué operated by Endeavour Mining. The government has ambitiously set a target to reach 100 tonnes of gold production annually by 2030.

The mining sector’s contribution to the national GDP has increased markedly from 1.5% a decade ago to 4% today, attracting billions in foreign and domestic investments. Key players in the sector include Canadian companies such as Barrick, Perseus Mining, Roxgold, and Fortuna Mining, reflecting the international confidence in Ivory Coast's mining potential. According to Coulibaly, these new permits are part of a broader strategy focused on unlocking the country’s untapped mineral resources and advancing economic diversification beyond the traditional cocoa industry.

Business and investment opportunities exist in expanding exploration activities, particularly in gold and critical minerals like cobalt and copper, which are essential for technology and energy sectors globally. There is also potential in developing downstream processing facilities and infrastructure to support mining operations, along with opportunities for partnerships or joint ventures with existing Canadian and international mining companies active in Ivory Coast. The stability Ivory Coast offers in a region facing political and regulatory challenges further strengthens its appeal as an investment hub in mining.