Côte d'Ivoire is seeking to significantly increase its gold production, targeting 100 tonnes by 2035, up from 59.33 tonnes in 2025. To achieve this goal, the country is relying on both local and international financing for new mining projects. Local banks are playing a crucial role in this effort, as evidenced by a recent financing agreement for Resolute Mining's Doropo mine.
Resolute Mining has secured 148 billion FCFA, approximately 253 million USD, in financing from several local banks, including Banque nationale d'investissement (BNI), Bank of Africa (BOA), and BGFI Bank, among others. This funding will support the construction of the Doropo mine, which has an estimated initial cost of 516 million USD. The project is expected to contribute significantly to Côte d'Ivoire's gold production growth.
The financing agreement for the Doropo mine demonstrates the growing involvement of local banks in Côte d'Ivoire's mining sector. However, their role remains largely limited to providing loans, whereas international investors often take on more complex and diversified roles. For example, Zijin Mining and Wheaton Precious Metals have invested in Montage Gold's Koné project, which began production in September 2026.
Several other mining projects are underway in Côte d'Ivoire, including Assafou, Boundiali, and Afema, which are expected to start production between 2028 and 2029. These projects require significant financing, with estimated costs ranging from 342 million USD for Boundiali to 1 billion USD for Assafou. The operators of these projects are exploring various financing options, including debt and equity.
Local banks in Côte d'Ivoire are likely to continue playing a key role in financing the country's mining sector. Their involvement offers an opportunity for greater integration of the mining industry into the local economy, generating benefits beyond export revenues, fiscal receipts, and job creation.
While local banks are increasingly active in financing mining projects, other categories of investors, such as private national investors and institutional investors, may also participate in the future. The diversification of financing sources and structures will be crucial in supporting Côte d'Ivoire's goal of increasing its gold production.
The growing participation of local banks in Côte d'Ivoire's mining sector reflects the interest of the local financial ecosystem in the industry's growth and potential benefits. As the sector continues to evolve, it will be essential to monitor the development of financing structures and the involvement of various stakeholders in supporting the country's gold production targets.
Key points
- Local banks in Côte d'Ivoire are increasingly providing financing for new gold mining projects, including Resolute Mining's Doropo mine.
- Côte d'Ivoire aims to boost gold production to 100 tonnes by 2035, up from 59.33 tonnes in 2025.
- The country's mining sector is attracting diverse financing sources, including local banks, international investors, and institutional investors.
