The Council of Ministers approved exploitation permit and the President of Côte d’Ivoire signed it as a mining decree
Roxgold has received mining permit from the government of Côte d’Ivoire to develop and operate the Séguéla Gold Project (Séguéla).
The Canadian gold mining firm has also initiated the early works at Séguéla to advance to full construction in 2021, and commissioning in 2022.
Roxgold president and chief executive officer John Dorward said: “We are delighted to announce the approval of the exploitation permit which represents a significant milestone in the development of Séguéla.
“It has been an exceptional year in progressing Séguéla having grown the total mineral resources to over a million ounces, announcing maiden resources at Koula, Ancien, Agouti and Boulder, completing a preliminary economic assessment, and culminating in the environmental and exploitation permit approvals.”
The council of ministers approved exploitation permit and the Côte d’Ivoire President, and other governmental authorities signed it as a mining decree.
The decree provides Roxgold with an industrial mining permit for development and operation of the Séguéla gold project, effective from 9 December 2020, and valid for 10 years.
The company said that the completion of the mining convention negotiation process at Séguéla is the final permitting milestone, and is continuing discussions with the government of Côte d’Ivoire.
In April last year, Roxgold completed the acquisition of Séguéla gold project, located in Côte d’Ivoire from Newcrest West Africa.
In addition to Séguéla gold project, the company also owns and operates the high-grade Yaramoko gold mine, located on the Houndé greenstone belt in Burkina Faso.
Dorward added: “The Séguéla Project continues to be a key priority for Roxgold, and we believe that the development of the project will provide significant value to all our stakeholders.
“In addition to the positive impact Séguéla will have on the surrounding communities, the project has the potential to more than double our production for shareholders within a short time frame and without the need for additional equity.
“The confirmation of the permit and the start of early works is a major accomplishment towards achieving our goal of becoming West Africa’s next multi-asset producer.”