• Deal includes 28M Santa Fe shares; completion expected by February 2026
  
  
• Kokoseb project targets 146,000 oz/year over 11 years, pending feasibility study
  

Australian miner WIA Gold said on Wednesday it has struck a binding agreement to sell its gold permits in Côte d’Ivoire to Santa Fe Minerals, a move that will allow the company to focus its investment on the Kokoseb gold project in Namibia.

WIA held an 80% stake in around ten Ivorian permits, including Dialakoro, Mankono Ouest, and Issia. These assets will be transferred to Santa Fe upon completion of the deal, which is expected by February 2026, subject to shareholder approval. In exchange, WIA will receive 20 million Santa Fe shares, plus a further 8 million shares to be issued upon meeting certain conditions.

The company said the deal will allow it to “focus on  the rapid exploration and development of the Kokoseb gold project in Namibia while retaining exposure to future upside in Côte d’Ivoire through an ongoing shareholding in Santa Fe.” The Kokoseb project is more advanced, while the Ivorian permits remain at an early exploration stage.

According to a scoping study published last September, the Namibian project could deliver an average of 146,000 ounces of gold per year over an 11-year mine life. The required investment is estimated at $358.8 million, with an after-tax net present value of $646 million, based on a consensus gold price of $2,600 per ounce. WIA plans to refine these parameters with a definitive feasibility study, which it expects to complete in the second half of 2026.

The company announced a $19 million fundraise in August to support its work in Namibia and is continuing efforts to obtain the mining permits necessary for Kokoseb's development. No timeline for the completion of this permitting process has been announced.

Aurel Sèdjro Houenou