(Ecofin Agency) - According to 2023 data from the Côte d'Ivoire Investment Promotion Center, China represents 5% of foreign direct investment in the country. While primarily involved in infrastructure and agriculture, China has recently increased its presence in the Ivorian mining sector.

From November 16 to 17, 2024, Aurum Resources participated in the First International Mining Symposium held in Chengdu, Sichuan, China. This Australian mining company, focused on gold exploration in Côte d'Ivoire, highlighted China's increasing role in the Ivorian mining sector during the event. 

Aurum showcased gold mining opportunities in Côte d'Ivoire, where it oversees the Boundiali gold project. This was the third Chinese mining conference attended by Aurum this year. The company has several Chinese investors among its main shareholders, including Caigen Wang and Zhaojin Mining.

Zhaojin Mining has also expanded its involvement in Côte d'Ivoire's gold sector by acquiring Tietto Minerals for over $400 million, gaining control of the Abujar gold mine, which has an annual production capacity of 200,000 ounces.

Shortly after Zhaojin, another significant Chinese investment in Côte d'Ivoire in recent months came from Zijin Mining. In July 2024, the company invested over $40 million to acquire a stake in Montage Gold, a Canadian firm developing the Koné project, which is expected to become Côte d'Ivoire's largest gold mine with production exceeding 300,000 ounces per year. This investment is part of a broader trend of Chinese investments in African gold, including acquisitions in Ghana and Namibia. 

Many factors explain the accrued interest in Côte d’Ivoire’s mining sector; such as a strong increase in gold production, which has more than doubled since 2018, rising from 24.5 tonnes to 51 tonnes in 2023. 

Côte d’Ivoire’s gold potential is estimated at 600 tonnes. Most firms mining the country’s gold are from from Canada, the UK, and Australia. These include Barrick Gold, Perseus Mining, Allied Gold, Fortuna Mining, and Endeavour Mining.

Emiliano Tossou