Menu
Cote d’Ivoire, located in West Africa, has gained growing recognition as a compelling investment hub for mining & exploration companies.
This recognition is attributed to several key factors:
– robust legal & regulatory framework,
– improving infrastructure,
– favourable geological conditions,
– burgeoning socioeconomic potential, and
– a commitment by the state toward sustainable development.
Côte d’Ivoire has long been a model of stability for West Africa, and the ECOWAS alliance.
Since the current president, President Alassane Ouattara (figure 1), took the helm in 2011, Côte d’Ivoire has made significant strides in enhancing its legal and regulatory framework to promote investment.
The country’s legal system is based on French civil law, providing a familiar and structured environment for investors. The Ivorian government has actively pursued reforms to streamline business processes, reduce bureaucracy, and ensure transparency.
The current Ivorian Mining Code was gazetted in 2012, it is well-recognised, and it provides a clear regulatory framework for mining & exploration companies. Exploration permits are granted over a 10-year period with a 2-year special renewal possible after this period. The exploration progress is assessed on a 4-3-3 year basis.
Since 2012, the Ivorian government has prioritized infrastructure development to support economic growth.
Major investments have been made in transportation, including road networks, ports, and airports, to improve connectivity within the country and with neighbouring nations.
The modernization of the Abidjan (figure 2) and San Pedro Ports, the construction of the Henri Konan Bédié Bridge, and the expansion of Félix Houphouët-Boigny International Airport are prominent examples of these infrastructure upgrades, which benefit various sectors, including trade, logistics, and tourism. Electricity Networks have also improved with some 70% of the nation having access to power.
The country is part of the West African Craton (figure 3), a stable geological formation rich in mineral resources with potential for mineral deposits; including gold, copper, bauxite, manganese, and iron ore.
West Africa is now considered a premier gold-producing province on the globe. With a mineral resource of over 300 Million Ounces, Cote d’Ivoire contains 33% of the ‘Birimian Age’ geology and only some 10% of total mineral resources in West Africa.
Although the number of gold mines has doubled since the 2012 mining code was implemented, the country remains severely underexplored, and ripe for discoveries.
Cote d’Ivoire’s economy is both diverse and dynamic, with several notable features.
As the world’s leading cocoa producer (figure 4), the nation holds a prominent position in the agricultural sector. In addition to its agricultural strengths, Cote d’Ivoire has cultivated a growing manufacturing sector encompassing textiles, agribusiness, mining, and petrochemicals. With a predominantly youthful population, the country possesses a substantial labor force, offering considerable potential for various industries and services. While income inequality remains a challenge, the government demonstrates a commitment to ameliorating socioeconomic disparities through inclusive policies and poverty reduction programs.
Cote d’Ivoire offers competitive tax incentives to attract foreign investors.
These incentives include reduced corporate tax rates and customs duties for certain industries, making it easier for businesses to establish and operate in the country.
Additionally, the Ivorian government may require participation in community development initiatives, particularly in the mining sector, to ensure the benefits of resource extraction are shared with local communities (figure 5).
Cote d’Ivoire boasts rich biodiversity and is home to several unique species, including endangered elephants (figure 6) and chimpanzees, within its nine national parks.
The government has implemented conservation efforts and established protected areas to safeguard these species and their habitats.
Investors are expected to adhere to stringent environmental regulations to protect the country’s natural heritage.
Awalé Resources consistently adheres to all regulations, upholding our unwavering commitment to environmental stewardship.
Since the democratic election of President Alassane Outtara, Côte d’Ivoire has been a model of security, stability, and safety.
Over the last decade, the government has taken serious measures to enhance security and stability, making it a safe environment for investment.
These efforts include disarmament and reintegration programs and improved law enforcement (figure 7), as well as strenghtening the country’s borders.
Cote d’Ivoire has a long history of mining, with gold being a primary focus. In proximity to our borders lie several multi-million-ounce gold deposits, sharing a similar geological backdrop (figure 8).
The region has attracted numerous mining companies due to its geological potential and favorable investment climate.
The government has actively encouraged responsible mining practices and has been open to partnerships with international mining companies.
Cote d’Ivoire’s future growth outlook is very promising.
The country’s economic diversification efforts, infrastructure development, and investment-friendly policies are expected to continue contributing to sustained growth (figure 9).
The government’s commitment to sustainable development and poverty reduction initiatives will further bolster the country’s attractiveness as an investment destination over the current and next decade.
Cote d’Ivoire, with its robust legal framework, improving infrastructure, geological potential, burgeoning economy, and commitment to sustainable development, presents a compelling case as an investment destination.
Although not risk-less, the Ivorian government’s efforts to enhance the country’s business environment, coupled with its natural resource wealth, make Cote d’Ivoire an attractive choice for capable investors seeking growth opportunities in the copper and gold markets.
