Montage Gold awarded mining permit for Côte d’Ivoire project

Martino De Ciccio, CEO of Montage, commented: “We are delighted to be awarded our mining permit which represents a significant milestone in the development of our Koné project and reflects the strong support received from our local stakeholders given our win-win approach focused on local content. In addition, we are also pleased to have reached an agreement on land compensation with our local communities which further demonstrates the support for the advancement of our project given the significant social and economic benefits that it will unlock for our host communities and government.

We look forward to rapidly continuing to unlock value for our stakeholders by progressing the Koné project towards an anticipated construction launch by Q1-2025, while continuing to progress our exploration strategy of delineating higher-grade targets that can be slotted into the mine plan from the commencement of the operation.

We are excited with the momentum created across our business, which positions us to deliver our strategy of creating a premier African gold producer, beginning in Côte d’Ivoire given the country’s highly favourable investment climate, significant geological potential, and our extensive experience in the region.”

Montage was awarded mining permits for both its Koné and Gbongogo deposits, which are valid for 20 years and 8 years, respectively, with opportunities to extend as further mine life is added through exploration success. The awarding of mining permits represents the last governmental authorisation required to enable the development and operation of the Koné project with the official decree to be received shortly following today’s Council of Ministers’ meeting.