ABIDJAN, Jan 16 (Reuters) – Gold output from Ivory Coast’s
Ity mine soared over 50 percent to 2.5 tonnes (89,595 ounces) in
2013 compared with the previous year due to round-the-clock
operations, the mine’s managing director said on Thursday.
Daniel Yai said production was expected to fall to about 2.2
tonnes in 2014 because of the low grade in the area currently
exploited. The firm plans to invest 100 billion CFA francs
($207.35 million) over three years to extend the life of the
mine.
“We were operating 16 hours per day. We moved to a 24 hours
operation, that explains the increase in production,” Yai told
Reuters.
Ity is Ivory Coast’s oldest gold mine located in the western
Zouan Hounien region. Toronto-listed La Mancha,
controlled by Egyptian tycoon Naguib Sawiris, holds a majority
stake in the mine.
Ivory Coast state miner Sodemi sold a 9 percent stake in the
project to La Mancha last year, increasing La Mancha’s
controlling interest to 55 percent, while a group of investors
led by Ivorian soccer star Didier Drogba holds 5 percent.
The Ivorian state still owns 10 percent of the mine, which
has produced more than 800,000 ounces of gold since it opened in
1991.
“To extend the life of the mine for another 17 years, we
will invest about 100 billion CFA francs starting this year for
the construction of a new plant which will start production in
2017,” Yai said.
Ivory Coast, the world’s largest cocoa grower, is trying to
expand its mining industry, left underdeveloped for decades as
the government concentrated its efforts on its agricultural
commodities sector.
The country’s total gold production stood at around 12
tonnes last year and the government has forecast annual output
reaching around 25 tonnes by 2015 as new mines come on stream.
($1 = 482.2680 CFA francs)
(Reporting by Loucoumane Coulibaly; Writing by Bate Felix,
editing by David Evans)
