• Resolute Miningapproved a $516 million final investment decisionto build the Doropogold mine in Côte d’Ivoire.

• The project aims to produce about 169,000 ounces of gold per year over a 13-year mine life.

• The mine could help the company nearly double annual output to about 500,000 ounces by 2028.

Australian mining company Resolute Mining announced on Thursday, March 12 that it approved the final investment decision (FID)for its Doropogold project in Côte d’Ivoire.

The company took the decision nearly one year after acquiring the project from AngloGold Ashanti. The approval clears the way for the construction of a new gold mine on the site, with total development costs estimated at $516 million.

Consequently, Resolute confirmed its plan to begin construction in the first half of 2026.

Resolute already holds all required regulatory and environmental approvals for the project. The Ivorian government granted the mining permit in early February.

For the first year of construction, the company previously announced a budget of between $170 million and $190 million.

Resolute plans to rely on its net cash position of $209 millionto fund the initial phase of development. At the same time, the company continues to assess financing options as the project progresses, depending on market conditions.

Ultimately, the company aims to commission a mine capable of producing an average of 169,000 ounces of gold annuallyover a 13-year operating life.

Toward a Third Mine in West Africa

For Resolute, the Doropo development forms part of a broader expansion strategy in West Africa, where the company currently generates all of its gold output.

Resolute operates the Syamamine in Maliand the Makomine in Senegal. These operations produced a combined 277,236 ounces of gold last year.

With Doropo, which the company plans to bring into production by 2028, Resolute targets a near doubling of its annual capacity to about 500,000 ounces of gold.

“This final investment decision represents an important of significant growth for Resolute and advances our strategy aimed at becoming a leading  a18>strategy to become a diversified gold producer, on track to achieve annual production of more than 500,000 ounces a33>more than 500,000 ounces by the end of 2028. This decision reflects the quality of the Doropo gold project. a49>gold project in Doropo, the strength of our technical work technical and our confidence in the operational environment,"said Chris Eger, chief executive officer of Resolute Mining.

Beyond the company’s growth strategy, the Doropo project could also support Côte d’Ivoire’s ambitions to expand its gold sector.

Ivorian gold production has increased steadily in recent years. The country expects output to reach 100 tons within the next decade, compared with 58 tons in 2024. The Doropo mine would complement other major developments in the country’s mining industry, including the Koné project developed by Montage Gold and the Assafou project led by Endeavour Mining. These projects could also generate additional mining revenues for the national economy.

Resolute now faces the challenge of executing construction according to schedule.

Favorable market conditions could support the project. Gold prices have risen steadily in recent months, and this trend could facilitate fundraising efforts for additional project financing.

Meanwhile, the company also prepares to strengthen its presence in Côte d’Ivoire through its ABC and La Debo exploration projects. Resolute is currently conducting economic studies on these assets to determine whether they could support future mining operations.

This article was initially published in French by Aurel Sèdjro Houenou

Adapted in English by Ange J.A de Berry Quenum