Ivory Coast: 100 tonnes of gold to be refined locally by 2027

Ivory Coast plans to launch a gold refining unit in the first half of 2027, capable of processing approximately 100 tonnes at full capacity. The facility, announced on September 16 in Abidjan by the Minister of Mines, Petroleum and Energy, Mamadou Sangafowa-Coulibaly, will be located in the economic capital.

The refinery is part of the industrial arm of the Ivorian Precious Metals Company (SIMEP). Its scope also includes the operation of semi-industrial mines, a national gold purchasing office, processing, marketing, and the establishment of a gold stock for the state.

The national purchasing office will aggregate gold from artisanal and small-scale mining using authorized processes, ensure traceability, and organize its transport to the refining unit. The stated goal is to better control the flows of the sector and retain more value within Ivory Coast.

The ministry indicates that StoneX will assist in the marketing of the refined gold in international markets. AlphaStream will manage the collection circuit, AVA will handle logistics and security, while the World Gold Council will contribute to integrating SIMEP into international standards.

SIMEP is a publicly funded company. The state and SODEMI together hold 49% of its capital, while national participation reaches 70%. The government links this initiative to its goal of making Ivory Coast the leading gold producer in Africa by 2035.