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Consolidation of Côte d'Ivoire's Status as an Energy Hub

Consolidation of Côte d'Ivoire's Status as an Energy Hub

Consolidation of Côte d'Ivoire's Status as an Energy Hub

As part of its economic development strategy, the Republic of Côte d'Ivoire is strengthening its position as a regional energy hub through strategic reforms and significant discoveries in the extractive and energy sectors. Major deposits like Baleine and Calao, among the largest identified to date, along with gold projects in Tanda and Koné, offer promising prospects for sustainable economic growth.

In his national address on December 31, 2024, His Excellency President Alassane Ouattara highlighted the impressive results of reforms in the mining and energy sectors. Over the past decade, gold production has quadrupled, and manganese production has increased thirtyfold. The diversification of resources now includes strategic minerals such as cobalt and lithium, crucial for high-tech industries.

Oil production prospects are equally encouraging. Recent discoveries are expected to increase current production by 2030, with a target of 200,000 barrels per day by 2027, compared to the current 60,000 barrels per day.

These advances are the result of ambitious structural reforms. Côte d'Ivoire’s membership in the Extractive Industries Transparency Initiative (EITI) and the adoption of local content laws aim to enhance governance and ensure equitable distribution of wealth derived from natural resource exploitation. The 2014 mining code reform has invigorated the sector, increasing the number of explorations permits from 120 in 2012 to 189 in 2023, and the number of exploitation permits from 9 to 28 in the same period. The recent revision of this code emphasizes local mineral processing and transparent operations, ensuring fair distribution among stakeholders. Between 2011 and 2023, over 1,200 billion CFA francs were invested in oil exploration, and 4,513 billion CFA francs in exploitation. Additionally, the government is developing an integrated minerals and energy policy for 2040.

Aware of environmental challenges, Côte d'Ivoire is committed to increasing the share of renewable energy to 45% of its energy mix by 2030. Initiatives like the Boundiali solar power plant, inaugurated in April 2024, demonstrate the country’s transition to more environmentally friendly energy.

Thus, Côte d'Ivoire is firmly on a path of economic development based on the responsible and sustainable management of its natural resources. The implementation of an integrated minerals and energy policy for 2040 reflects the country's ambition to position itself as a model of governance and innovation in the extractive and energy sectors.

Source : Government of Côte d'Ivoire Portal, MEPD Web Portal rédaction