Endeavour Mining announced on Saturday its goal of producing approximately 200,000 ounces of gold annually from its newly inaugurated Lafigue Mine in Ivory Coast by 2025. Located about 500 kilometers northeast of Abidjan in the Dabakala region, the mine commenced gold production in early August and is projected to yield between 90,000 and 100,000 ounces by the end of this year.
The company has invested 250 billion CFA francs ($415 million) into the Lafigue project, which is expected to have a minimum lifespan of 13 years. Endeavour estimates that the mine could contribute over 380 billion CFA francs in taxes and revenue to the Ivorian government.
Endeavour CEO Ian Cockerill emphasized the significance of Lafigue for the company’s future in Côte d’Ivoire during the inauguration ceremony. “Our partnership with Côte d’Ivoire, which already includes two operating mines—Lafigue and Ity—is growing,” he stated. He also highlighted ongoing exploration at the Tanda-Iguela site, discovered in 2022, which has the potential to become another major asset for the company.
As the world’s largest cocoa producer, Ivory Coast is working to develop its mining sector to diversify its economy. Mines Minister Mamadou Sangafowa Coulibaly indicated in June that the country aims to boost its gold output to at least 100 metric tons per year within the next five years.
Other mining companies active in Ivory Coast include Barrick Gold, Perseus Mining, and Roxgold.
