Canadian miner Montage Gold officially inaugurated the Koné gold mine in north-western Côte d'Ivoire on November 12, 2026. The ceremony was chaired by Vice Prime Minister and Defence Minister Téné Birahima Ouattara. The mine began production on September 26, 2026, less than two years after the foundation stone was laid. Montage Gold describes Koné as the country's largest producing gold mine by processing plant capacity.
The Koné gold mine has an 11-million-tonne-a-year plant and is expected to produce more than 300,000 ounces of gold a year over the first eight years. According to the 2024 feasibility study, the mine's revenue over its estimated 16-year life will be nearly half for the state. The company has invested more than 580 billion CFA francs in the project. The inauguration ceremony was attended by Mines, Petroleum and Energy Minister Mamadou Sangafowa-Coulibaly, local officials, community representatives, and site employees.
Montage Gold chief executive Martino De Ciccio highlighted Côte d'Ivoire's regulatory environment during his speech. He stated that investor confidence relies on the stability of the legal, regulatory, and tax framework. De Ciccio also emphasized the importance of infrastructure in the country, particularly for a low-grade deposit like Koné. The project created over 3,600 jobs during construction, with over 95% held by Ivorians and more than 30% by people from nearby localities.
The company has implemented various community development initiatives. Over 1,000 community members have been hired, and 1,500 people have taken part in literacy programs. Montage Gold also cites the rebuilding of the Dolorougokaha settlement, health and drinking water facilities, and poultry farms. The company plans to allocate more than 27 billion CFA francs to affected villages through the Local Mining Development Committee.
Montage Gold intends to reinvest its revenue in Côte d'Ivoire to build a second mine and continue exploration. The company states that Koné's resources have been increased from 5 to 8 million ounces. Its West African portfolio also includes the Didievi project, acquired with African Gold in April 2026, the Wendé property in Côte d'Ivoire, and over 2,100 km² of exploration permits in Mauritania.
The gold sector is gaining momentum in West Africa, with other projects moving forward. The future Diamba Sud mine in Senegal, for example, will be powered by a 14 MW plant. This comes amid a continental debate on making the most of Africa's mineral resources. Montage Gold is listed on the Toronto Stock Exchange.
The company's progress in Côte d'Ivoire is notable, with the Koné mine pouring its first gold in September 2026. The project is expected to have a significant impact on the local economy and community.
Key points
- Montage Gold invested over CFA 580 billion in the Koné gold mine.
- The mine is expected to produce over 300,000 ounces of gold per year for the first eight years.
- The project created over 3,600 jobs during construction, with a focus on local hiring.
