• MetalsGrove raises A$2.7 million to explore Central West gold project
• Junior miners ramp up exploration activity across Côte d'Ivoire
• Rising gold prices and favourable climate attract new sector investment

MetalsGrove on Thursday announced an A$2.7 million ($1.7 million) share placement to fund exploration at its Central West gold project in Côte d'Ivoire, as junior miners step up activity in the West African country.

The move reflects a broader push by newly arrived junior gold explorers in Côte d'Ivoire to advance projects toward development by 2026.

MetalsGrove signed an agreement in May to acquire the Central West project and said it would begin exploration immediately. The latest funding will support exploration work through 2026.

Similar momentum is visible at Skylark Minerals, which announced an A$10 million share placement in late November. The funds will finance an exploration programme starting in 2026 across a portfolio of gold permits recently acquired from Ricca Resources.

Desert Gold, previously focused on the SMSZ project in Mali, entered Côte d'Ivoire’s gold sector in June with the Tiegba project. The company plans to launch initial sampling and drilling there, with work expected to run until the third quarter of 2026.

Other companies have also expanded their presence in the country. Santa Fe Minerals and Enegex Limited added several Ivorian gold assets to their portfolios this year and plan to begin early-stage exploration in the coming months.

Together, these moves point to accelerating investment across Côte d'Ivoire’s gold sector. Activity spans advanced exploration projects such as Boundiali, Afema and Doropo, as well as new mines including Koné.

Industry interest is underpinned by an estimated geological potential of nearly 600 tonnes of gold and a business environment that operators describe as favourable. Justin Tremain, managing director of Turaco Gold, which operates the Afema project, has called Côte d'Ivoire “the best place in the world” to develop a gold mine.

Momentum has also been supported by rising gold prices, which have climbed more than 62% so far in 2025, according to Trading Economics.

While newcomers to the Ivorian gold sector say they aim to establish a long-term presence, the success of exploration remains uncertain. Any major discoveries would support government efforts to boost national output and strengthen Côte d'Ivoire’s standing among Africa’s leading gold producers.

Côte d'Ivoire produced 58 tonnes of gold in 2024, nearly three times the level recorded in 2014.

Aurel Sèdjro Houenou