(Ecofin Agency) - Côte d'Ivoire could increase its gold production to 100 tonnes a year by 2029, up from 51 tonnes in 2023. The country aims to achieve this goal with new mines like Lafigué. Operated by Endeavour Mining, Lafigué produced its first gold in June 2024.

Lafigué, which began operations at the end of June 2024, is expected to yield 200,000 ounces (5.6 tonnes) of gold annually by 2025. Endeavour announced this target during the mine's inauguration ceremony on October 19, 2024.

#economie Endeavour Mining inaugure sa nouvelle mine d’or de Lafigué en Côte d’Ivoire
Ce samedi 19 octobre 2024, Endeavour Mining a annoncé l’inauguration de sa nouvelle mine d’or de Lafigué. #civ225 #ci225 pic.twitter.com/lBDbePi8iW

— Toussaint Alain (@ToussaintAlain) October 20, 2024

Lafigué is Côte d’Ivoire’s third industrial gold mine to open since 2023, after the Séguéla and Abujar mines. These new assets helped boost the country’s output to 51 tonnes in 2023, from 48 tonnes in 2022. This year, the national output is forecast at 55 tonnes, integrating Lafigué's production–90,000 to 110,000 ounces.

Endeavour expects Lafigué to generate public revenues of CFA380 billion ($630 million) and create about 1,500 jobs. The Ivorian government holds a 10% stake in the mine and is entitled to a mining royalty of up to 6% on gold sales.

More Projects Incoming

Endeavour operates two gold mines in Côte d’Ivoire: Lafigué and Ity. However, the firm is preparing to develop a third mine at Tanda-Iguela. Discovered in 2022, this project holds an estimated 4.7 million ounces (133 tonnes) of gold.

We're thrilled to announce the +300% increase of Indicated resources at Tanda Iguela to 4.5Moz at 2 g/t Au
✅Demonstrates potential to be Tier 1 asset
✅+226km drilling completed in last 2 years
✅Low discovery cost of $11/oz
✅PFS expected late 2024
?https://t.co/KG4w7ljDS0 pic.twitter.com/Jv41OlBKU8

— Endeavour Mining (@EndeavourMining) November 29, 2023

Quoted by L’Agence Ivoirienne de Presse, Ian Cockerill, CEO of Endeavour Mining recently commented on the Tanda-Iguela project: "This site has all the assets to become the next flagship asset in Endeavour Mining's portfolio. We know we can count on the government to support this project, which will undoubtedly contribute to the growth of the mining industry"

Besides Tanda-Iguela, other advanced gold projects include the Koné project which should be Côte d'Ivoire's largest gold mine. The government granted a mining permit for Koné this year, expecting production to commence in 2027, with a capacity of 301,000 ounces annually for the first eight years. The Doropo project also shows promise, with feasibility studies estimating a potential annual production of 167,000 ounces over 10 years.

According to Ivorian Mines Minister, Mamadou Coulibaly, the country could produce at least 100 tonnes of gold per year over the next five years, as reported by Reuters.

Emiliano Tossou