Montage Gold Corp. has commenced construction of its Koné gold project in Côte d’Ivoire, with first gold production slated for Q2-2027. The project is fully funded and boasts significant social and economic benefits for the region.
Montage Gold Corp. announced the launch of construction for its Koné project in Côte d’Ivoire. A groundbreaking ceremony took place with government officials and local communities present, highlighting their support for the project due to its anticipated social and economic benefits. First gold production is expected in Q2-2027. Early works are progressing well, and major construction is set to begin in the coming weeks.
Lycopodium Minerals Pty Ltd was awarded the engineering, procurement, and construction management (EPCM) contract, with Montage’s experienced in-house construction team handling several tasks. Key design parameters were optimized to enhance the crushing and milling circuit, improving overall operational efficiency. The project is fully funded with considerable headroom. The estimated upfront capital expenditure (capex) is US$835 million, while Montage has over US$900 million in liquidity sources. Long-lead items, including the high-pressure grinding roll (HPGR), crushers, ball mill, thickeners, carbon-in-leach (CIL) tanks, and key earthworks mobile equipment, have been ordered, with a total value exceeding US$150 million. An ongoing 90,000m drilling program is expected to be completed in the coming weeks, anticipated to result in the publication of a maiden mineral resource in Q1-2025. Exploration will remain a priority throughout the construction phase, aiming to discover more than 1 million ounces (Moz) of measured and indicated (M&I) resources at a grade 50% higher than the Koné deposit before production begins
GOLD MINING CONSTRUCTION COUTE D'ivoire PROJECT LAUNCH EXPLORATION
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