Resolute Mining has been granted a 14-year mining permit for its Doropo Gold Project in Côte d’Ivoire, clearing the way for construction to start in mid-2026 and supporting its ambition to surpass 500,000 ounces of gold production annually by 2028.
- 14-year mining permit awarded for Doropo Gold Project
- Project supports Resolute’s target of 500 koz annual gold production by 2028
- Post-tax NPV5% of US$1.457 billion at US$3,000/oz gold price
- Construction expected to begin in H1 2026 with first gold in H1 2028
- Final government approval pending Presidential Decree
Doropo Permit Unlocks Development Pathway
Resolute Mining Limited has reached a pivotal milestone with the official award of a 14-year mining permit for its Doropo Gold Project in Côte d’Ivoire. This permit, granted by the Council of Ministers, is the final major regulatory hurdle before the anticipated Presidential Decree, enabling Resolute to move confidently towards construction.
The Doropo project is a cornerstone of Resolute’s strategy to become a leading multi-asset gold producer in West Africa. With the permit secured, the company is positioned to advance its goal of exceeding 500,000 ounces of gold production annually by the end of 2028, a significant step up from current levels.
Strong Economics Underpin Growth Ambitions
The project’s recent Definitive Feasibility Study (DFS) highlights robust financial metrics. At a gold price assumption of US$3,000 per ounce, Doropo delivers a post-tax net present value (NPV) at a 5% discount rate of US$1.457 billion and an internal rate of return of 49%. These figures underscore the project’s potential to generate substantial cash flow and shareholder value.
Upfront capital expenditure is estimated at US$516 million, with an expected mine life of 13 years processing over 59 million tonnes of ore. The project anticipates an average annual production of 169,000 ounces in the first five years, with all-in sustaining costs (AISC) around US$1,005 per ounce, indicating a healthy margin at current gold prices.
Next Steps and Regional Potential
Resolute plans to fund the development from its existing balance sheet, aiming to commence construction in the first half of 2026 and produce first gold by mid-2028. The mining permit covers a substantial 400 square kilometre area, including multiple mineralised trends and unexplored geophysical targets, suggesting potential for further resource expansion.
Managing Director Chris Eger emphasised the strong local and governmental support for the project, highlighting Doropo’s role in diversifying Resolute’s asset base across West Africa. The company’s disciplined growth approach and focus on shareholder returns remain central as it navigates the final investment decision and project execution phases.
Bottom Line?
With the Doropo permit secured, Resolute is set to accelerate growth, but execution risks and gold price volatility remain key factors to watch.
Questions in the middle?
- When will the official Presidential Decree be issued to formalise the permit?
- How will fluctuating gold prices impact Doropo’s projected economics and timelines?
- What exploration plans does Resolute have to expand resources within the permit area?