C டிte d’Ivoire joins major African gold producers

An ideal agricultural country, C டிte d’Ivoire continues its search for economic diversification to better integrate its economy, which largely depends on agricultural products, especially cocoa and cashews, of which the country is the world’s leading producer. To this end, in addition to the promising hydrocarbon sector, the country also relies on its high-potential but less exploited mining sector.

To lay the foundation for this diversity, the country started a few years ago with generally very satisfactory results in gold production, and in recent years there has been a steady increase in yellow metal production. As a result, production has increased from 24.4 tonnes in 2018, 32.5 tonnes in 2019 and 38.9 tonnes in 2020 to 41.80 tonnes in 2021.

>>> Read more: Here are 5 new big gold producers in Africa

Therefore, with the production of this 41.80 tonnes of gold in fiscal year 2021, C டிte d’Ivoire is now one of the largest gold producers in the continent.

In 2019, the gold production of Ghana, Sudan, Mali and Burkina Faso will be 147 tonnes, 79 tonnes, 73 tonnes and 64 tonnes respectively.

And the opportunities are exciting. Officials estimate that 65 tonnes will be produced by 2025. Based on the growth rates recorded in recent years, this scope is achievable. First, this gold production is carried out in 9 mines and 2 others are under construction. Gold production will increase due to the scope effect.

>>> Read more: US-Iran: Rising gold prices will benefit African producers

Later, C டிte d’Ivoire, located in the center of the “Bermian Greenstone Belt”, was marked by a belt of gold-ore sedimentary volcanic rocks extending from Senegal to Ghana. . Finally, the Ivorian government revised its mining code in 2014, making it more attractive to foreign investors by improving the legislative and regulatory framework, but also improving the tax and customs structure.

These reforms have made it possible to attract international mining groups. Note that Ivorian gold is mined by Canadian (Barrick Gold and Endeavor Mining and African Gold) and Australian (Perseus Mining) multinationals.

If the C டிte d’Ivoire reaches the target of 65 tonnes by 2025, the share of the mining sector, which dominates the production of manganese and gold, will reach 6% of the country’s GDP, which currently stands at 3%.