Canadian miner Montage Gold fast-tracks second Côte d’Ivoire mine as Africa’s newest gold hotspot attracts billions

Canada’s Montage Gold is wasting little time turning its latest acquisition into a future mine, underscoring growing confidence in Côte d’Ivoire as one of Africa’s fastest-growing gold investment destinations.

• Canada’s Montage Gold has launched a $13.5 million exploration programme to fast-track the Didiévi project into its second producing mine in Côte d’Ivoire.
• The investment comes just months after the company’s acquisition of Australian junior African Gold and alongside construction of its flagship Koné mine.
• The move reflects growing confidence in Côte d’Ivoire, one of Africa’s fastest-growing destinations for gold investment.
• As global miners hunt for new reserves amid strong bullion prices, Montage is positioning itself as a future multi-mine African gold producer.

Just three months after completing its acquisition of Australian explorer African Gold, the company has launched a $13.5 million exploration campaign aimed at accelerating development of the Didiévi project into what it hopes will become its second producing mine in the West African nation.

The programme includes 60,000 metres of drilling, follows nearly 40,000 metres already completed, and forms part of a broader strategy to transform Montage from a single-asset developer into a multi-mine African gold producer.

The company acquired Didiévi through its takeover of African Gold, completed in April, and has moved quickly to integrate the project into its portfolio.

Montage says the latest drilling campaign will expand the current 989,000-ounce mineral resource, upgrade part of it from the inferred to the indicated category and test multiple new exploration targets across the Blaffo Guetto, Pranoi and Pokou mineralised trends.

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Unlike many early-stage exploration programmes, Montage has already begun environmental and social impact assessment (ESIA) studies, signalling that the company is thinking beyond exploration and laying the groundwork for permitting and eventual mine development.

“Our published high-grade drill results continue to confirm the prospectivity of the Didiévi project and its potential to quickly grow,” Chief Executive Officer Martino De Ciccio said, adding that the company’s objective is to build “a premier, multi-asset African gold producer.”

A second growth engine after Koné

Didiévi is expected to become the next pillar of Montage’s expansion in Côte d’Ivoire.

The company is already constructing the Koné project, where first gold production is expected in late 2026.

Once fully operational, Koné is projected to produce more than 300,000 ounces of gold annually during its first eight years and ranks among the largest new gold mines currently being developed in West Africa.

The latest exploration programme also reflects a broader shift in investor sentiment.

Mining companies that successfully develop multiple producing assets are often valued more highly than single-mine operators because diversified production reduces operational risk, extends mine life and provides greater flexibility to fund future growth.

By advancing Didiévi while simultaneously building Koné, Montage is positioning itself to join the ranks of Africa’s established mid-tier gold producers.

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Côte d’Ivoire is becoming one of Africa’s hottest gold destinations

Montage’s expansion comes as Côte d’Ivoire continues to attract increasing interest from international mining companies.

Long overshadowed by traditional gold producers such as Ghana, Mali and South Africa, the country has emerged as one of the continent’s most active exploration and mine development markets.

Companies including Endeavour Mining, Resolute Mining, Perseus Mining and Allied Gold have expanded their presence as governments and investors increasingly favour jurisdictions offering geological potential alongside a relatively stable investment climate.

The country’s ambitions are equally bold. Côte d’Ivoire produced 59.33 metric tonnes of gold in 2025 and is targeting 100 metric tonnes annually by 2030, a goal supported by a pipeline of large-scale mining projects expected to come online over the next few years.

If projects such as Koné, Didiévi, Endeavour Mining’s Assafou development and Resolute Mining’s Doropo project advance as planned, the country could significantly strengthen its position among Africa’s leading gold producers.

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Why investors are paying attention

Montage’s latest investment comes as gold prices remain near historic highs, encouraging miners to expand exploration pipelines despite rising operating costs.

For producers, replacing reserves has become increasingly important as mature mines age and new large-scale discoveries become harder to find.

The Didiévi project has yet to reach the stage where a construction decision can be made. The company still needs to update its mineral resource estimate, convert more resources into economically mineable reserves, complete technical and feasibility studies, secure regulatory approvals and arrange project financing.

Even so, Montage’s willingness to accelerate drilling, begin permitting work and publicly identify Didiévi as its next development asset suggests management sees the project as far more than an exploration prospect.

It is positioning the asset as the company’s next source of production growth, and another sign that Côte d’Ivoire’s rise as a major African gold destination is gathering momentum.