KEY POINTS
- Montage pours about 1,140 oz of first gold.
- Koné mine starts production ahead of schedule.
- About 3,600 direct jobs have been created.
Montage Gold has produced its first gold at the Koné mine in Côte d’Ivoire, reaching the milestone ahead of schedule and within its planned budget.
The TSX-listed gold producer poured about 1,140 ounces of gold on September 26, marking a major step toward commercial production at the flagship project.
Construction at the Koné mine began in December 2024, with the company moving into gold production less than two years later.
Montage said more than 400,000 tonnes of ore had been processed since ore was first introduced into the mine’s oxide circuit on September 8.
The early completion and commissioning of the oxide circuit allowed the company to begin producing gold earlier than originally planned.
The oxide circuit is expected to reach commercial production during the fourth quarter of 2026.
Montage CEO Martino De Ciccio said the first production milestone was achieved safely, on budget and ahead of schedule, describing it as an important step in the company’s plan to build a major African gold production business.
Thousands of jobs created
The Koné project has already created about 3,600 direct jobs, with more than 95% of those positions held by Côte d’Ivoire nationals.
Montage said the project has also generated additional indirect employment through its contractors, suppliers and other businesses supporting the mine.
The company expects the operation to provide wider economic benefits as production increases and mining activities expand.
Koné is now the ninth operating gold mine in Côte d’Ivoire, further strengthening the country’s position as a major gold-producing jurisdiction in West Africa.
Hard-rock expansion underway
Although the oxide circuit has started producing gold, work is continuing on the mine’s larger hard-rock processing facilities.
Construction of the hard-rock comminution circuit remains on budget and is scheduled for completion in the second quarter of 2027.
Montage said the company’s ability to carry out some construction activities itself helped lower capital costs and shorten the project development timeline.
The company also plans to begin mining the higher-grade Gbongogo Main satellite deposit toward the end of the fourth quarter of 2026.
Additional higher-grade satellite deposits are expected to be brought into production during 2027, providing further opportunities to increase output from the wider Koné operation.
President and chief development officer Peder Olsen said the company was proud to have delivered the Koné project ahead of schedule and within budget.
He said the oxide circuit was ramping up well, with ore from the Koné deposit being fed directly into the mill.
Montage is also looking beyond Koné as it seeks to expand its African gold portfolio. The company’s Didievi project, also located in Côte d’Ivoire, is being positioned as its next development asset.
The successful first gold pour gives Montage a producing asset while it continues developing additional deposits and processing capacity across its Côte d’Ivoire portfolio.
