Côte d’Ivoire: Montage Gold Announces First Gold Pour at the Koné Mine Before End of 2026

Canadian mining company Montage Gold has confirmed a major milestone for its Koné gold project in northern Côte d’Ivoire, announcing that the first gold pour is expected by the end of the fourth quarter of 2026. This preliminary step, ahead of the start of commercial production scheduled for the second quarter of 2027, is in line with the project timeline announced at launch.

According to information reviewed by Sika Finance, Montage Gold has mobilized more than 3,000 employees and subcontractors at the site, where construction activities have reached an intensive phase. To date, approximately USD 545 million has been invested, representing nearly 63% of the planned capital expenditure, with costs remaining in line with forecasts despite rising global industrial costs.

Officially presented to Ivorian authorities on April 2, 2024, the Koné Mine is described as Côte d’Ivoire’s first “world-class” gold mine, with estimated reserves of around 5 million ounces of gold (approximately 155 tonnes). Construction began in December 2024, marking a historic milestone for the country’s extractive sector. Once fully operational, the mine is expected to produce approximately 300,000 ounces of gold per year (nearly 8.5 tonnes) over an initial mine life estimated at around 20 years, strengthening Côte d’Ivoire’s position on the African gold mining landscape.

A Promising Discovery and Expansion

Optimism surrounding the project has been further reinforced by highly encouraging recent drilling results from a satellite prospect known as “Petit Yao”, located just a few kilometers from the processing plant currently under construction. Initial analyses indicate high-grade gold zones, suggesting the potential discovery of a significant additional deposit that could complement Koné’s resources and extend or increase future production.

At the same time, Montage Gold has strengthened its strategy in Côte d’Ivoire through the acquisition of African Gold Limited, a company active in gold exploration in the country. This transaction gives Montage control of the Didievi Project, a promising deposit containing nearly one million ounces of identified gold, further enhancing its asset portfolio in West Africa and its ambition to become a leading regional gold producer.

“The progress achieved this year confirms our ambition to build a leading multi-asset African gold producer, creating value for all our stakeholders,” said Martino de Ciccio, CEO of Montage Gold.

Beyond gold production, the Koné project is widely viewed as a catalyst for economic development, with positive spillover effects on local value chains and increased attractiveness of Côte d’Ivoire for other investors in the extractive sector.