• Canada’s Montage Gold completed its $170 million acquisition of Australian junior miner African Gold.

• The transaction adds the Didievi gold project, which hosts about 989,000 ounces of mineral resources, to Montage’s portfolio.

• Montage expects first gold production at its Koné project by the end of the fourth quarter of 2026.

Canadian mining company Montage Gold has accelerated its expansion strategy in Ivory Coast just months before launching production at its Koné mine.

The company announced on Wednesday, April 29, that it completed the acquisition of Australian junior miner African Gold in a transaction valued at $170 million. The deal adds the Didievi gold project to Montage’s portfolio and strengthens the company’s expansion strategy in Ivory Coast, where it is already developing the Koné gold mine.

Montage first announced the transaction in November 2025. The agreement covered the acquisition of all African Gold shares that Montage did not already own after previously securing a 17.3% stake in the company.

The update follows shareholder approval of the transaction, which represented one of the final conditions required to complete the deal. Following that step, Montage said it expected approval from the Supreme Court of Western Australia to finalize implementation by the end of April.

“This transaction adds the Didievi project, a high-quality resource-stage gold project located in Côte d’Ivoire, to Montage’s portfolio and strengthens its presence in a country where it has already established a strong position through the ongoing construction of its Koné project, which remains on budget and ahead of schedule, with first gold pour targeted for the end of the fourth quarter of 2026,” the company said in a statement.

Didievi, African Gold’s flagship exploration asset, currently hosts about 989,000 ounces of gold mineral resources. Following the acquisition, Montage plans to expand the project’s resource potential while simultaneously advancing the final construction stages at Koné. The Koné project is expected to become one of Ivory Coast’s next major gold mines, with projected annual production exceeding 300,000 ounces during its first ten years of operation.

Beyond Didievi, the acquisition also strengthens Montage’s exploration footprint in Ivory Coast. The company gains control of the Konahiri and Agboville exploration permits, further consolidating a portfolio that already includes the Wendé project, which Montage previously described as a “highly prospective exploration ground.”

Montage must now advance Didievi and its other exploration assets toward more advanced development stages through additional investment. The expansion supports Ivory Coast’s strategy to sustain long-term growth in its gold mining industry. At the same time, Montage has started diversifying beyond Ivory Coast. The company recently acquired five gold exploration permits in Mauritania.

This article was initially published in French by Aurel Sèdjro Houenou

Adapted in English by Ange J.A de Berry Quenum