Ivory Coast plans to begin operations at a new gold refinery in the first half of 2027 as the West African country seeks to process more of its gold locally and become Africa’s largest gold producer by 2035.
- Ivory Coast will launch a state-of-the-art gold refinery in early 2027, aiming to locally process up to 100 metric tons of gold annually.
- The plant, operated by Société Ivoirienne des Métaux Précieux (Simep), aligns with Ivory Coast’s goal to become Africa’s top gold producer by 2035.
- Gold refined at the new facility will be marketed in partnership with US financial giant StoneX Group, boosting international presence.
- With current production at 60 tons per year, Ivory Coast plans to reach 100 tons by 2030, thanks to mine expansions and new projects by companies like Perseus Mining and Montage Gold.
The Société Ivoirienne des Métaux Précieux, known as Simep, will be able to process up to 100 metric tons of gold annually.
“The refining unit will begin operations by the end of the first half of 2027,” Mines, Petroleum and Energy Minister Mamadou Sangafowa-Coulibaly said. At full capacity, the refinery is expected to process about 100 tons of gold annually, roughly equivalent to the country’s projected industrial mine output.
Gold processed at the facility will be marketed with the help of US financial services firm StoneX Group, according to Bloomberg.
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Ivory Coast targets 100 tons by 2030
Ivory Coast currently produces about 60 tons of gold annually and ranked eighth among African gold producers in 2025, according to World Gold Council data. Ghana was the continent’s largest producer, with 192.4 tons, while Zimbabwe, Guinea, Sudan, Mali and Burkina Faso also ranked ahead of Ivory Coast.
The government expects national gold production to reach 100 tons by 2030, supported by expansions at existing mines and new projects.
Perseus Mining is expanding its Yaouré gold mine, while Canada’s Montage Gold plans to commission the Koné mine by the end of 2026.
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Africa pushes for more local processing
The refinery is part of a broader push by African governments to capture more value from their mineral resources by processing them domestically rather than exporting raw materials.
Kenya has announced plans to ban exports of unprocessed minerals, including gold, while Ghana and Zimbabwe have also introduced restrictions to encourage local refining.
For Ivory Coast, expanding gold production and adding domestic refining capacity could help strengthen its position in Africa’s growing gold industry as it targets the top producer spot by 2035.
