• Government approves 13 exploration licenses, including 12 for gold

• Barrick and nine other companies receive four-year permits across several regions

• Move reflects rising investor interest as Côte d’Ivoire targets 100 tons of gold by 2030

Côte d’Ivoire’s Council of Ministers on December 3, approved the issuance of 13 new exploration licenses, 12 of which cover gold. The permits are valid for four years.

Barrick Gold Côte d’Ivoire Sarl received a gold exploration permit in the Boundiali and Korhogo departments. Société Ivoirienne d’Exploitation et de Recherches (SIER SARL) obtained two permits in Dabakala on one hand, and in Kaniasso, Madinani, and Odienné on the other. New Mining Côte d’Ivoire SA also secured two permits, one for exploration in the Touba and Koro departments, and another in Odienné and Koro.

Other beneficiaries include Orca Gold CDI SARL (Boundiali and Dianra), Ecominier SARL with a permit covering gold and coltan in Vavoua, Daloa, and Zuénoula, Minex West Africa SARL (Bondoukou and Bouna), Shark Mining CDI SARLU (Dabakala), Aspire Nord Côte d’Ivoire SARL (Boundiali and Korhogo), Gemica (Vavoua and Zuénoula), and Sinaim SARL (Toumodi, Dimbokro, and M’Batto). The only permit not related to gold was awarded to Eburnie Mineral in Ouaninou for iron, aluminum, and copper.

Although the investors behind several of these companies remain unclear, the award of these permits comes at a time of rising international interest in Côte d’Ivoire’s mining sector. The country is attracting companies thanks to its stable business environment and the speed at which new mines can be developed. This momentum also coincides with record gold prices on global markets, while Côte d’Ivoire still holds significant untapped reserves.

Aware of this potential, the Ivorian government aims to produce 100 tons of gold per year by 2030, up from about 60 tons in 2024. It will, however, take several years before any new deposits emerge from the permits just issued, as companies must first undertake substantial exploration work.

Emiliano Tossou