What's Happening?
Australian mining company Resolute Mining has announced plans to invest between $170 million and $190 million in the development of the Doropo gold project in Côte d’Ivoire by 2026. This investment, detailed
in the company's quarterly report, is aimed at supporting the initial construction phases of the mine. Doropo, acquired from AngloGold Ashanti in May 2025, is set to become Resolute Mining's third gold mine, alongside its existing operations in Mali and Senegal. The project is expected to produce 170,000 ounces of gold annually over a 13-year period, with a total investment of $516 million. The company plans to make a final investment decision by mid-2026, contingent on obtaining a mining permit from the Ivorian government. The funds will be allocated for earthworks, construction camp development, and mining equipment purchases.
Why It's Important?
The investment in the Doropo project is significant for both Resolute Mining and the Côte d’Ivoire gold sector. For Resolute, this project is a strategic move to diversify its gold production across multiple assets and countries, aiming to increase its annual output to over 500,000 ounces by 2028. The project is also timely, given the favorable conditions in the gold market, with prices reaching historic highs. For Côte d’Ivoire, the development of Doropo is part of a broader national strategy to boost gold production to 100 tons within the next decade, up from 58 tons in 2024. This project, along with others like the Koné project, is expected to significantly contribute to the country's economic growth and mining sector expansion.
What's Next?
Resolute Mining plans to continue construction at Doropo throughout 2027, with the first gold production anticipated in the first half of 2028. The company is focused on achieving its production targets and expanding its portfolio. The successful development of Doropo will likely encourage further investments in Côte d’Ivoire's mining sector, potentially attracting more international mining companies. The Ivorian government is expected to play a crucial role in facilitating these developments by providing necessary permits and supporting infrastructure improvements.
