Roxgold receives mining permit and breaks ground at Séguéla

Roxgold has received a 10-year exploitation (mining) permit from the government of Côte d’Ivoire to develop and operate the Séguéla Gold Project.

Alongside this development, the Canadian-based gold mining company has started early works at Séguéla to protect the project critical path and facilitate a rapid ramp up to full construction next year, ahead of commissioning Séguéla in 2022.

"We are delighted to announce the approval of the exploitation permit which represents a significant milestone in the development of Séguéla," said John Dorward, President and Chief Executive Officer. 

"It has been an exceptional year in progressing Séguéla having grown the total mineral resources to over a million ounces, announcing maiden resources at Koula, Ancien, Agouti and Boulder, completing a preliminary economic assessment, and culminating in the environmental and exploitation permit approvals. 

"We thank the government of Côte d’Ivoire for its demonstrated support and commitment to fostering a positive investment climate and we look forward to a lasting and mutually beneficial partnership."

He added that the Séguéla Project is a key priority for Roxgold, with the potential to more than double its production for shareholders within a short timeframe and without the need for additional equity. 

"The confirmation of the permit and the start of early works is a major accomplishment towards achieving our goal of becoming West Africa’s next multi-asset producer," he said.

Exploitation Permit

The exploitation permit has been approved by the Council of Ministers and signed as a mining decree by the President of Côte d’Ivoire, and other governmental authorities. The decree grants Roxgold an industrial mining permit for development and operation of the Séguéla Gold Project, and opportunities to renew as further growth and expansion is proven.

The company’s final permitting milestone at Séguéla is the completion of the Mining Convention negotiation process. Discussions with the government of Côte d’Ivoire are ongoing.

Next steps

• Ongoing infill, expansion and satellite target drilling program at Séguéla Q1 2021
• Drilling results from Boussoura Q1 2021
• Underground drilling program in 55 Zone at Yaramoko Mine Complex Q1 2021
• Feasibility Study for Séguéla H1 2021
• Formal Séguéla construction decision H1 2021
• Initial resource at Boussoura H2 2021
• Commissioning of Séguéla Gold Project 2022