Tuesday, September 13, 2016

Ivory Coast Gold

Ivory Coast is a country in West Africa. It borders Liberia, Guinea, Mali, Burkina Faso, and Ghana; its southern boundary is along the Gulf of Guinea.

Ivory Coast has experienced a coup d’état in 1999, and two religion-grounded civil wars. The first took place between 2002 and 2007 and the second during 2010-2011. Ivory Coast's capital is Yamoussoukro. Abidjan is the administrative center. Ivory Coast has a relatively high income per capita (US$1014.4 in 2013) The country is the world's largest producer of cocoa beans and has over 100,000 rubber farmers.
Ivory Coast is the fastest growing economy in Africa, projected to grow 8.5%.

It is now looking to vast unexploited gold resources to fuel growth. Gold production has grown to 17000 Kg in 2014, a 31% increase from 2013.
With annual production of 7 tonnes of gold, the Tongon mine is the largest gold mine in Ivory Coast. Randgold owns 89% of the mine, the State of Côte d’lvoire 10% and 1% is held by a local company.

Mining at Tongon began in April 2010 and the mine has at least 6 years remaining.
Amara Mining will invest $400 million over the next two years to build one of Africa’s largest gold mines at its Yaoure property in Ivory Coast with production due to start in 2017.

Resources have been evaluated at 6.3 million ounces with the company expecting to produce 325,000 ounces per year. The mine has a projected lifespan of 12 years.
Endeavour Mining Corp - EDV.t operates two mines in Ivory Coast. The 85% owned Agbaou Mine achieved commercial production in early 2014 and is expected to produce 190k ozs.

The Ity Gold Mine has produced more than 1.2 million ounces of gold in its 20+ years of operations and is expected to produce around 75k ozs.