Lycopodium Limited has landed a A$196 million engineering and construction management contract for Resolute Mining’s Doropo Gold Project, marking a major expansion in West Africa.
- A$196 million EPCM contract awarded for Doropo Gold Project
- Contract covers engineering, procurement, construction management, and commissioning
- 4.9 Mtpa processing plant with 13-year mine life
- Project located in Bounkani Region, Côte d’Ivoire
- FY27 guidance to be updated alongside FY26 results in August
Significant Contract Win Expands Lycopodium’s West African Footprint
Lycopodium Limited (ASX:LYL) has secured a substantial A$196 million EPCM contract from Resolute Mining to develop the Doropo Gold Project in Côte d’Ivoire. The contract encompasses engineering, procurement, equipment supply, construction management, and commissioning for a 4.9 million tonnes per annum (Mtpa) carbon-in-leach (CIL) processing plant and associated infrastructure.
The Doropo project, situated in the Bounkani Region approximately 450 kilometres northeast of Abidjan, involves multiple open pit mines feeding ore into a central processing facility with an expected operational life of around 13 years. Lycopodium’s scope also includes vital non-process infrastructure such as 11kV power reticulation, water supply systems, and tailings management pipelines.
Longstanding Involvement and Project Progression
Lycopodium’s engagement with Doropo stretches back to early study phases, delivering the NI 43-101 Technical Report in 2023 and updating the Definitive Feasibility Study in 2025. The company recently completed Front-End Engineering Design (FEED) services, paving the way for the contract award and project commencement following a Limited Notice of Award in April 2026.
Managing Director and CEO Peter De Leo highlighted Lycopodium’s extensive track record in West African gold projects, noting the strategic importance of Doropo as a "large-scale, high-value project" that will contribute significantly to the region’s expanding gold sector.
Financial Implications and Forward Guidance
This contract win adds to Lycopodium’s growing portfolio of gold sector projects and is expected to materially impact the company’s revenue streams. The firm plans to provide updated FY27 guidance alongside its full-year FY26 financial results on 19 August 2026, reflecting the new work-in-hand and anticipated contracts currently in late negotiation.
Given Lycopodium’s recent contract awards, including a A$118 million deal for Ethiopia’s Tulu Kapi Gold Project earlier this year, the company appears to be consolidating its position as a preferred engineering and construction partner in major gold developments globally.
Bottom Line?
Lycopodium’s Doropo contract underscores its growing West African presence, with FY27 guidance set to reveal the full financial impact.
Questions in the middle?
- How will Lycopodium manage potential project execution risks in Côte d’Ivoire’s operating environment?
- What impact will the Doropo contract have on Lycopodium’s overall project pipeline and resource allocation?
- Can the company leverage this win to secure further contracts in West Africa or other emerging gold regions?