Montage Gold, a company with its sights set on Africa’s gold-rich terrains, has successfully obtained the final mining permit for its prestigious Koné project in Côte d’Ivoire. This crucial approval paves the way for two decades of mining activity, signaling a major advancement for the company and the region’s economic prospects.
The final permit, secured after a rigorous approval process, allows Montage Gold to kick off construction at the Koné site. This milestone is not just a win for the company but also a testament to its commitment to expanding its footprint responsibly in the African mining sector. Additionally, the company has received an eight-year mining permit for its Gbongogo deposit, with the potential for extensions as new discoveries may prolong the mines’ lifespans.
The journey to this point began with an environmental nod in May, when Montage received a ministerial order that green-lighted all environmental protocols for Koné’s development. This approval was crucial, setting the stage for the subsequent steps in the permitting journey.
2023 was a busy year for Montage as it prepared the environmental and social impact assessment (ESIA), a detailed report required to move forward with construction. The ESIA, updated and published in January, underwent rigorous scrutiny. In March 2024, a pivotal hearing took place where the ESIA received the stamp of approval from a commission comprising various government bodies, solidifying Montage Gold’s compliance with stringent environmental and social standards.
With these approvals, Montage Gold is not resting on its achievements. The business intends to carry out its intensive asset exploration going forward. A 30,000-meter drilling program is now scheduled to be completed this month. After that, in late Q3, a more extensive 60,000-meter drilling program is planned to start. The objective of this forthcoming effort is to enhance the project’s existing significant gold reserves by further defining resources at strategic sites.
The Koné project is widely recognized as one of Africa’s finest gold projects. Its significance is highlighted by promising estimates: the site boasts total reserves of 174.3 million tonnes with an average gold grade of 0.72 grams per tonne, translating to just over 4 million ounces of gold. With a projected mine life of 16 years, Koné stands as a beacon of economic promise and a crucial player in the global gold mining operations.
These permits have consequences that go beyond just granting mining rights. They show a strong level of trust in Montage Gold’s environmental and operational management skills. Furthermore, through the creation of jobs, the construction of local infrastructure, and the increasing of local taxes, the project’s economic ripple effects are expected to help nearby communities as well as the larger Côte d’Ivoire economy.
In keeping with its forward-thinking approach, Montage Gold is not only growing its mining operations but also making sure that these endeavors are profitable and sustainable for all parties concerned. The corporation is still committed to upholding environmental best practices and promoting good community relations as it enters the Koné development phase.
