- Ivory Coast's gold output hits record high of 56 metric tons in 2023.
- Gold output has been steadily climbing as the government promotes mining.
- New mines, including Roxgold's and Barrick Gold's, drive growth in gold output.
- Minister predicts Ivory Coast will become net oil exporter by 2030.
Ivory Coast’s gold output reached a record high in 2023, thanks to the opening of new mines, and is expected to continue growing, according to Mines Minister Mamadou Sangafowa Coulibaly. Speaking at a press conference on Thursday, Coulibaly announced that gold output is projected to reach 56 metric tons this year, a significant increase from 51 tons in 2022.
This marks a steady climb for the country’s gold output, which has been rising for several years as Ivory Coast seeks to develop its mining sector and diversify its income sources. Ivory Coast, the world’s top cocoa producer, has long neglected its mining sector, but the government is now actively promoting it as a key driver of economic growth.
Several major mining companies operate in Ivory Coast, including Barrick Gold, Endeavour, and Perseus Mining. In September, Canada’s Roxgold opened its gold mine in the north-western region, aiming to produce around 130,000 ounces of gold per year.
Barrick Gold’s Tongon mine, which was expected to produce over 200,000 ounces of gold in 2023, will continue operating until at least 2030 following the discovery of new deposits. Coulibaly also addressed the country’s energy situation, revealing that two electricity generating units with a capacity of 488 MW were shut down, forcing Ivory Coast to reduce its power exports to neighboring countries.
Despite this setback, the minister expressed optimism about the country’s energy future, stating that Ivory Coast’s total electricity capacity currently stands at 2,907 MW and is expected to increase significantly by 2030. By 2030, Coulibaly predicted that Ivory Coast will become a net oil exporter, although he did not provide specific figures to support this claim.
