Côte d'Ivoire attracts mining investments

Côte d'Ivoire attracted 186 million USD in mining exploration investments in 2025, according to the World Exploration Trends 2026 report by S&P Global Market Intelligence. This figure may rise further, particularly in the gold sector, as new projects and partnerships emerge.

Waraba Gold acquires stake in Ivorian project

On Monday, October 26, Waraba Gold Limited, a junior mining company, signed an agreement with Desert Metals, an Australian firm, to acquire an 80% stake in a gold exploration project in Côte d'Ivoire. The deal is valued at up to 5 million Australian dollars, or approximately 3.5 million USD.

Project location and strategic significance

The project involves Leo Resources, a subsidiary holding a research permit for 212.66 km² of land in the green rock belt of Boundiali. This area is near the Sissingué mine, operated by Perseus Mining, and is considered part of a larger geological formation with multiple gold deposits.

Waraba aims to expand its holdings

Waraba plans to expand its land holdings around Tengrela to about 1,000 km², including pending permit applications. This expansion would strengthen its position in the region's gold-rich geological formations.

Eminence Minerals enters Ivorian gold sector

On Friday, October 23, Eminence Minerals, an Australian-listed junior company, announced its entry into Côte d'Ivoire's gold sector by acquiring an initial 30% stake in five of its gold projects. Unlike Waraba, Eminence is new to the Ivorian gold industry.

Eminence's projects and industry connections

Eminence's projects are located in areas where other companies, such as Endeavour Mining, Montage Gold, and Aurum Resources, are developing or operating gold deposits with several million ounces of resources. This suggests a growing interest in the region's gold potential.

Exploration in known geological belts

The acquisition of new land in areas considered strategic is a common strategy in Côte d'Ivoire and other regions. Mining companies often target geological belts known for their gold potential or with characteristics similar to existing deposits, as these similarities can guide exploration efforts.

Ivorian authorities support gold production goals

Recent exploration efforts in Côte d'Ivoire align with the country's long-term goal of becoming the leading African producer of gold by the middle of the next decade. The success of companies like Waraba and Eminence will depend on transforming their exploration permits into actual discoveries.

Next steps for Waraba and Eminence

Waraba's acquisition is subject to regulatory approvals, after which it plans to conduct drilling in the Tengrela area. Eminence, meanwhile, will analyze historical data and perform reconnaissance work on its projects, with the long-term aim of developing them as an operator.