Key Points
- Ity Mine produced 245,000 ounces of gold in the first nine months of 2025, representing 26% of Endeavour’s total output.
- Sawiris’ stake in Endeavour Mining has surged to $1.4 billion, contributing to his net worth of $9.58 billion.
- The mine’s modernized carbon-in-leach plant allows production to peak at 343,000 ounces in 2024 and sustain output above 250,000 ounces annually.
Ity, Côte d’Ivoire’s oldest operating gold mine, has emerged as the top producer for Endeavour Mining, the Africa-focused gold company backed by Egyptian billionaire Naguib Sawiris.
Since Endeavour acquired the mine in 2015, output has surged, making it a major contributor to Sawiris’ wealth and the company’s portfolio.
The mine first poured gold in 1991 and has produced more than 1.4 million ounces since then. Endeavour initially acquired Ity in 2015 and increased its stake to 85 percent in 2018, following the construction of a new carbon-in-leach plant.
Annual output has more than quadrupled since the upgrade, and exploration continues to identify high-grade deposits around the site.
Ity’s Current Output and Future Prospects
Ity produced 245,000 ounces of gold in the first nine months of 2025, valued at nearly $1 billion and representing 26 percent of Endeavour’s total output.
Analysts project the mine will sustain production above 250,000 ounces annually over its expected 10-year lifespan.
Before Endeavour’s takeover, Ity was a medium-scale operation producing roughly 600,000 ounces over its first two decades. The 2015 acquisition by Sawiris and his family marked a turning point.
Endeavour invested $412 million to modernize the mine, commissioning a carbon-in-leach plant in April 2019. The plant now processes up to 5 million tons annually, pushing production to a peak of 343,000 ounces in 2024.
Sawiris’ Stake Surges
Rising gold prices have further boosted the value of the mine. Bullion recently topped $4,000 per ounce, driven by trade tensions, geopolitical uncertainty, central bank purchases, and investor demand.
Sawiris’ stake in Endeavour Mining is now valued at roughly $1.4 billion, increasing his estimated net worth to $9.58 billion.
In addition to Endeavour, Sawiris holds a $418 million stake in Australia’s Evolution Mining and has diversified wealth through real estate, technology, hospitality, and media investments.
