The Council of Ministers of Côte d’Ivoire has awarded a mining permit for the Koné project to Montage Gold Corp, marking a significant step forward for the company in the region.
Montage received mining permits covering a total area of 357 sq km for both its Koné and Gbongogo deposits, valid for 20 years and 8 years respectively.
These permits include several advanced high-grade exploration targets, offering opportunities to extend the mine’s life through successful exploration.
The awarding of these permits represents the final governmental authorization needed to develop and operate the Koné project. The official decree is expected shortly following the Council of Ministers’ meeting.
“We are delighted to receive our mining permit, a significant milestone in the development of our Koné project, reflecting the strong support from our local stakeholders and our win-win approach focused on local content,” remarked Martino De Ciccio, CEO of Montage.
“Additionally, we have reached an agreement on land compensation with local communities, further demonstrating the support for our project’s advancement and the significant social and economic benefits it will bring to our host communities and government.”
De Ciccio expressed confidence in the project’s progress, aiming for an anticipated construction launch by Q1-2025.
The company is also advancing its exploration strategy, targeting higher-grade deposits that can be integrated into the mine plan from the start of operations.
Montage is rapidly advancing exploration at the Koné project, with a 30,000-meter drill program expected to be completed by late July 2024.
High-grade intercepts have already been reported at several targets. A second 60,000-meter drill program is slated to begin in late Q3-2024, focusing on delineating resources at top priority targets while continuing to test other targets.
