(Ecofin Agency) - Mining exploration investments in Côte d'Ivoire reached $122 million in 2024, according to S&P. The significant figure reflects investors’ growing interest in recent years; a phenomenon attributable to the country’s untapped gold potential and favorable business environment.

On February 26, the Ivoirian Council of Ministers approved four decrees for mining exploration licenses. Three of the decrees focused on gold, which has a significant position in the Ivoirian mining industry. 

ZS Ressources Sarl received two gold exploration permits in the Daoukro district. Schiba Mining SA secured the third gold permit in the Touba district. The fourth decree approves searching for nickel and copper in the Sipilou and Danané districts. All four permits expire after four years.

According to S&P, Côte d'Ivoire attracted $122 million in mining exploration investments in 2024. The new permits, which aim to attract more gold investment, could lead to major discoveries over time. However, details on the investment plans of Schiba Mining and ZS Resources are not yet available. Many years may pass between the launch of exploration works and a potential first mineral estimation.

This article was initially published in French by Emiliano Tossou

Edited in English by Ola Schad Akinocho