Côte d’Ivoire: Gold Production Soars to Record High in 2023 with New Mines

Côte d’Ivoire, the world’s leading cocoa producer, witnessed a record-breaking year for gold output in 2023, largely due to the opening of new mines, according to mines minister Mamadou Sangafowa Coulibaly. The country has been developing its long-neglected mining sector to diversify its income sources.

During a press conference, Coulibaly announced that gold production is expected to reach 56 metric tons this year, marking a significant increase from the previous year’s output of 51 tons, which was already a 6% rise from 48 tons in 2022. The minister also projected that gold output will continue to grow further in the coming years.

Several mining companies operate in Ivory Coast, including Barrick Gold, Endeavour, and Perseus Mining. In September, Canada’s Roxgold inaugurated its gold mine in the north-western region, with a target production of approximately 130,000 ounces of gold annually. Moreover, Barrick Gold announced in July that its Tongon mine, which was expected to produce over 200,000 ounces of gold in 2023, would continue operating until at least 2030 following the discovery of significant new deposits.

During the press conference, Coulibaly also mentioned that two electricity-generating units with a combined capacity of 488 MW were shut down, forcing the country to reduce its power exports to neighboring nations. Ivory Coast’s current total electricity capacity stands at 2,907 MW. The minister added that by 2030, the country aims to become a net oil exporter, although he did not provide specific figures.