Resolute Mining invests $150 million in its expansion in West Africa

Australian mining company Resolute Mining has reached a strategic agreement with South Africa-based AngloGold Ashanti to acquire two gold projects in Côte d'Ivoire, Doropo and ABC, for a total of US$150 million. Announced on 1 May 2025, this transaction marks a major step in Resolute's expansion in West Africa, where it already operates the Mako mine in Senegal and the Syama mine in Mali.

As part of this agreement, Resolute has transferred its exploration licences in Guinea to AngloGold Ashanti, subject to the approval of the Guinean government. If the transfer is not completed within 18 months, Resolute will be required to pay an additional USD 25 million in compensation to AngloGold.

The Doropo project, located in north-eastern Côte d'Ivoire, is the jewel in the crown of this acquisition. Covering seven exploration licences over an area of 1,850 km², it should enable Resolute to achieve annual production of more than 500,000 ounces of gold over the next three years. The project already obtained its environmental permit in June 2024, following an environmental and social impact assessment approved by the Ivorian authorities, reinforcing its viability.

The ABC project is still in the exploration phase, as is the La Debo project, already held by Resolute in Côte d'Ivoire. These assets add to the company's portfolio as it seeks to diversify its operations and consolidate its position in a mining jurisdiction renowned for its stability and attractiveness.

The USD 150 million payment to AngloGold Ashanti will be made in three tranches: USD 25 million on closing, USD 50 million 18 months later and USD 75 million after 30 months. This financial structure allows Resolute to manage its cash flow while investing in the development of the acquired projects.

Chris Eger, Managing Director and CEO of Resolute Mining, hailed the acquisition as a major opportunity for the company. "The Doropo and ABC projects allow us to diversify and increase our near-term production to more than 500,000 ounces, capitalising on our existing presence in Côte d'Ivoire, a leading mining jurisdiction," he said in a statement. He added that, once in production, Doropo will complement the Syama and Mako operations, boosting the group's cash flow.

The transaction was legally advised by ADNA, a law firm specialising in North and West Africa, with a team led by partner Sydney Domoraud and supported by Christina Karaouni and Sigismond Konan. Domoraud noted that the acquisition "not only strengthens Resolute's presence in West Africa, but also aligns with its long-term growth strategy".

This transaction comes against a dynamic backdrop for Côte d'Ivoire's mining sector, which is increasingly attracting foreign investors thanks to a stable regulatory framework and abundant gold resources. Côte d'Ivoire, which produced around 41 tonnes of gold in 2023, continues to develop its mining industry, supported by modern infrastructure and a government commitment to promoting investment.

This dynamism is also reflected in the legal news in Abidjan. On 6 May 2025, a new law firm opened its doors in Côte d'Ivoire's economic capital, founded by a former head of Bennani & Associés at the Organisation for the Harmonisation of Business Law in Africa (OHADA). This initiative reflects Côte d'Ivoire's growing attractiveness for investment-related legal services.

With the acquisition of the Doropo and ABC projects, Resolute Mining is positioning itself as a key player in the West African gold sector, a region rich in opportunities but demanding in terms of operational and community management. The success of this expansion will depend on the company's ability to bring the Doropo project into production on schedule and to navigate the regulatory complexities, particularly in relation to the transfer of Guinean licences.

In conclusion, this USD 150 million investment marks a decisive step for Resolute Mining, which is strengthening its regional footprint and production capacity. As global demand for gold remains strong, Côte d'Ivoire is proving to be a destination of choice for mining companies, and Resolute is well placed to take advantage of this.