Montage Gold secures permit Koné Project in Cote D’ivoire
Montage Gold Corp. has secured a key milestone for its flagship Koné gold project in Côte d’Ivoire, having received the official mining permit approval from the country’s Council of Ministers. This approval clears the final regulatory hurdle required for project development. The company has also finalized land compensation agreements with local communities, reflecting strong local support and laying the groundwork for shared economic benefits.
Koné Project
Montage plans to begin construction of the Koné project in the first quarter of 2025. The permit, valid for 20 years for Koné and 8 years for the nearby Gbongogo deposit, spans a combined area of 357 square kilometers. This includes high-priority exploration targets near planned infrastructure, which the company aims to integrate into the mine plan from the start of operations.
An initial 30,000-meter drilling campaign is currently underway and set to wrap up by July 2024, with a second 60,000-meter program planned for late Q3 2024. These programs aim to define additional high-grade resources.
According to its 2024 Feasibility Study, the Koné project is one of the most promising gold assets in Africa. It is expected to produce over 300,000 ounces of gold annually during its first eight years, with an overall mine life of 16 years and an all-in sustaining cost of $998 per ounce. Montage, a Canadian-listed company, intends to leverage its extensive experience in African mining to become a leading multi-asset gold producer on the continent.
