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KIVIA ANALYSIS

MacroeconomicsNEUTRAL

With 503 million USD in investment in Boundiali, Côte d'Ivoire announces a new ''world-class'' gold project

Published on October 13, 20263 min

Key takeaways

  • The Australian group intends to initiate mine construction before the end of 2026, with initial production targeted for the first half of 2028.
  • With over 100 tons of gold already identified and substantial untapped potential, Boundiali could become one of the country's primary gold assets.
  • Côte d'Ivoire is preparing to add a new large-scale project to its mining portfolio.

The Australian group intends to initiate mine construction before the end of 2026, with initial production targeted for the first half of 2028. With over 100 tons of gold already identified and substantial untapped potential, Boundiali could become one of the country's primary gold assets.

Côte d'Ivoire is preparing to add a new large-scale project to its mining portfolio. Aurum Resources Limited plans to commence construction of the future gold mine in Boundiali, in the north of the country, before the end of the year 2026.

The investment is valued at 503 million dollars, or nearly 280 billion FCFA. The schedule was presented on October 8 to Prime Minister Robert Beugré Mambé by a delegation led by Caigen Wang, Chief Executive Officer of the Australian group.

The meeting, organized in the presence of the Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly, marks a significant milestone in transitioning Boundiali from exploration to industrial development. Aurum is targeting initial production in the first half of 2028 and expects to extract approximately 6,2 tons of gold per year.

At this output level, Boundiali will join the circle of major Ivorian mines and will bolster the scaling-up process initiated by a gold industry driven by the increase in discoveries and large-capacity projects. Over two years of work, Aurum claims to have identified more than 100 tons of gold in the region.

However, the primary strategic interest of Boundiali lies in its growth potential. The project encompasses several deposits spread across a geological belt that remains underexplored, the group notes, with mineralization that remains open laterally and at depth.

"Over the past two years, we have discovered approximately 100 tons of gold from the various drilling operations conducted in the Boundiali region," stated Caigen Wang. Aurum intends to continue its exploration campaigns over the next three years and estimates that these could add approximately 30 tons of gold per year to currently identified resources.

If this trajectory is confirmed, Boundiali could gradually establish itself among the most significant gold assets in Côte d'Ivoire, alongside the Koné, Doropo, and Tanda mines. For Côte d'Ivoire, Boundiali represents both a major industrial investment and a new test of its capacity to support multiple large mining projects simultaneously.

Aurum estimates that the construction phase could generate approximately 4 200 direct and indirect jobs. Once the mine is operational, nearly 2 200 jobs are expected to be maintained.

The government, however, intends to ensure that the project's impact is not limited to the mine's lifespan. For Mamadou Sangafowa-Coulibaly, the investments made around Boundiali must leave a lasting economic and social legacy for surrounding populations.

"Beyond the jobs and revenue that the mine will generate, we expect the firm to commit to significant investments for the benefit of local populations, with an impact that will extend beyond the life of the mine," the Minister stated. This requirement places community infrastructure, training, local content, and the sustainability of benefits at the center of discussions with the operator.

It also reflects the vision of the Ivorian state: to attract the capital necessary for the development of mineral resources, while ensuring that a larger share of the value created sustainably benefits the regions concerned. Published on 13/10/26 08:35 Jean Mermoz Konandi

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