Mining company Endeavour Mining announced on Saturday its plans to significantly boost gold production in Ivory Coast. The company’s second gold mine, Lafigue, officially began operations in the Dabakala region.
Located approximately 500 kilometers northeast of Abidjan, Lafigue is expected to produce between 90,000 and 100,000 ounces of gold by the end of 2024.
Endeavour aims to increase annual production from this mine to around 200,000 ounces by 2025.
The company has invested a significant sum of 250 billion CFA francs ($415 million) in the Lafigue project, which is estimated to have a mine life of at least 13 years.
This investment is expected to generate substantial revenue for the Ivorian government through taxes and other contributions.
Endeavour CEO Ian Cockerill expressed optimism about the company’s future in Ivory Coast, highlighting the potential of the Tanda-Iguela site for further expansion.
With the addition of Lafigue to its existing operations, Endeavour is strengthening its position as a major player in the Ivorian mining sector.
Ivory Coast, known primarily for its cocoa production, is actively working to diversify its economy by developing its mining industry.
The government’s goal is to increase gold output to at least 100 metric tons per year within the next five years.