The Council of Ministers of Côte d’Ivoire has awarded the mining permit for the Koné project to Montage Gold Corp in the country
Montage was awarded mining permits covering a total area of 357 sq km for both its Koné and Gbongogo deposits (which are valid for 20 years and 8 years respectively) in addition to several advanced high grade exploration targets, 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.
A unique West African mining opportunity
“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,” remarked Martino De Ciccio, CEO of Montage. “In addition, we are also pleased to have reached an agreement on land compensation without 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.”
Montage has indicated that it is now rapidly advancing exploration at the Koné project with a 30,000-meter drill programme expected to be completed in late July 2024. High grade intercepts have already been received at several targets. A second 60,000-meter drill programme is expected to be launched in late Q3-2024 with the goal of delineating resources at top priority targets, in addition to continuing to drill test other targets.
