"The persistent positive efforts of our teams have led to the discovery of an economically viable coltan deposit in Issia, located in the central-western part of the country," stated Koné Moussa Seydou, Director General of the Ivorian Mining Development Company (Sodemi), in a press release.

While the specific quantity of the deposit has not been disclosed, Sodemi claims to be "one of the first mining companies in West Africa to embark on the production of this mineral."

Sodemi has entered into an agreement with an undisclosed Chinese company to form an Ivorian-registered company named Ivoire Coltan (IC) to exploit this deposit, according to official sources.

The ownership structure of this new company is as follows: SODEMI holds 51%, the Chinese partner holds 39%, and the Ivorian state holds 10%, resulting in a total public financial participation of 61%.

Coltan is a vital component in the manufacturing of mobile phones and computers. The Democratic Republic of Congo (DRC) holds most of the world's reserves, particularly in its eastern region, which is currently experiencing conflict between M23 rebels and the army.