Bloomberg News

Ivory Coast President Targets Gold Output of 25 Tons by 2020

October 24, 2011

(Updates with comments by Ouattara in third paragraph.)

Oct. 24 (Bloomberg) -- Ivory Coast aims to increase its gold production to 17 metric tons in 2015 and 25 tons in 2020, President Alassane Ouattara said.

To meet the goal Ivory Coast will have to step up exploration, revise the mining code and be more efficient and transparent in granting permits, Ouattara said today at the inauguration of the Tongon mine, operated by London-based Randgold Resources Ltd., in the north of the country.

“The Tongon mine is a first step toward our ambition to turn mining into a key sector in the economic and social development of Ivory Coast,” Ouattara said. “The mining sector could create tens of thousands jobs.”

Tongon will bring Ivory Coast’s annual gold output to 13 tons, said Adama Toungara, the minister of mines and energy.

“We aim to make mining the second sector of our economy after agriculture,” Toungara said.

--Editors: Hilton Shone, Karl Maier

To contact the reporter on this story: Olivier Monnier in Abidjan at omonnier@bloomberg.net

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net


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