Resolute Mining, an Australian mining company, announced on Thursday, March 12 that it had approved the final investment decision (FID) for its Doropo gold project in Côte d’Ivoire, Ecofin Agency reported.
The decision comes nearly one year after the company acquired the project from AngloGold Ashanti. The approval allows Resolute to move forward with building a new gold mine at the site, with total development costs estimated at $516 million.
The company confirmed that construction is expected to begin in the first half of 2026.
Resolute already has all the required regulatory and environmental approvals for the project. The Ivorian government granted the mining permit in early February.
For the first year of construction, the company had previously set a budget of between $170 million and $190 million.
Resolute plans to use its net cash position of $209 million to fund the initial phase of development. At the same time, the company said it will continue evaluating additional financing options as the project progresses, depending on market conditions.
Once completed, the company expects the mine to produce an average of 169,000 ounces of gold each year over a projected 13-year operating life.
The Doropo project is part of Resolute’s broader expansion strategy in West Africa, where the company currently produces all of its gold.
Resolute operates the Syama Mine in Mali and the Mako Mine in Senegal. Together, these two operations produced 277,236 ounces of gold last year.
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With Doropo, which the company plans to bring into production by 2028, Resolute aims to nearly double its annual production capacity to about 500,000 ounces of gold.
“This final investment decision represents an important step of significant growth for Resolute and advances our strategy aimed at becoming a leading diversified gold producer, on track to achieve annual production of more than 500,000 ounces by the end of 2028. This decision reflects the quality of the Doropo gold project, the strength of our technical work and our confidence in the operational environment,” said Chris Eger, chief executive officer of Resolute Mining.
Beyond the company’s expansion plans, the Doropo project could also support Côte d’Ivoire’s efforts to grow its gold sector.
Gold production in the country has been rising steadily in recent years. Côte d’Ivoire expects its output to reach 100 tons within the next decade, compared with 58 tons in 2024.
The Doropo mine will add to other major mining developments in the country, including the Koné Project developed by Montage Gold and the Assafou Project led by Endeavour Mining. These projects are also expected to generate additional mining revenue for the national economy.
Resolute must now focus on delivering the construction of the Doropo mine on schedule.
Market conditions may also support the project. Gold prices have been rising in recent months, a trend that could make it easier for the company to secure additional financing if needed.
At the same time, Resolute is preparing to expand its presence in Côte d’Ivoire through its ABC and La Debo exploration projects.
The company is currently conducting economic studies on these assets to determine whether they could support future mining operations.
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Image Credit: CediRates
