Côte d’Ivoire, the world’s leading cocoa producer, is set to revise its mining code with an ambitious goal: securing a larger slice of the pie from its burgeoning gold industry.
Mines Minister Mamadou Sangafowa Coulibaly announced the plans on Monday, highlighting the need to diversify the country’s income sources and capitalize on its rich mineral resources. The revision of the 2014 mining code aims to strike a balance, benefiting not just the state but also mining companies and the Ivorian population.
“This code deserves to be revised,” Coulibaly said, emphasizing the need for a win-win situation for all stakeholders.
The move comes amidst a gold rush in Côte d’Ivoire. The country’s gold output reached record highs in 2023, fueled by the opening of new mines. The government is optimistic that this growth trajectory will continue, with projections suggesting a potential fivefold increase in annual gold production within the next five years, reaching at least 100 metric tons.
Several major mining companies already operate in Côte d’Ivoire, including Barrick Gold, Endeavour Mining, and Perseus Mining. The revised code is expected to establish a framework that fosters continued investment and exploration while ensuring the country receives a fair share of the profits generated from its mineral wealth.
