INTRODUCTION TO Côte d'Ivoire

Côte d’Ivoire is located in West Africa, with a short coastal stretch facing southward into the Gulf of Guinea. The country is bordered by Guinea, Burkina Faso and Mali in the north, Ghana in the east, and Liberia in the west.

This West African nation has rich natural resources including proven reserves of over 28 billion cubic metres of natural gas, 100 million bbl of oil, over 200 tonnes of gold and abundant iron ore and nickel deposits in the Mount Nimba region.

INVESTMENT OPPORTUNITIES

Côte d’Ivoire’s main focus for foreign investment is gold with nearly all of its prospecting and mining licenses issued for gold.

India plans to invest $1 billion into developing oil and mining projects in Côte d’Ivoire over the next five years. In the last ten years, the total amount of announced Indian FDI abroad has been more than $10 billion. From India’s energy security viewpoint, Côte d’Ivoire has emerged as an important destination for investment opportunities in hydrocarbon exploration and diamonds.

Côte d’Ivoire has considerable mineral potential, with important occurrences of gold, diamonds, iron, nickel, cobalt, copper and manganese, and bauxite having been identified.

EXPLORATION POTENTIAL

Côte d’Ivoire like much of West Africa has gold at the forefront of exploration activities since the introduction of a new favourable mining investment code in 1995.

Artisanal workings and exploration for gold and diamonds are widespread. In addition to a number of international companies actively pursuing gold mining opportunities in the country.

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COMPANIES MINING IN Côte d'Ivoire


LEGISLATION & MINING POLICY OVERVIEW

The new mining Code attempts to make the mining more attractive to private investors by creating a better adjusted and more coherent institutional framework.

The Code simplifies existing procedures by removing the mining concession scheme,
replacing the a priori controls of the former legislation and reducing the treatment deadlines of the files from six months to about six weeks.

The new mining code also offers optimal possibilities for mining exploitation by diversifying exploitation schemes, attaching particular importance to the exploration for economically viable deposits, allowing the holder of a mining permit to exploit all mineral substances discovered and not only those initially listed in the permit, warranting the acquisition of an exploitation title from the holders of exploration licences concerning the mineral substances discovered, authorising any transfer, transmission or waiver of mining titles in order to facilitate continuity in exploitation if necessary, by new investors.

Finally the code sets forth a package of tax benefits and guarantees aiming at creating a particularly safe investment environment .

Côte d'Ivoire’S ECONOMY

Cote d’Ivoire is the largest country in the West African Economic and Monetary Union (WAEMU) and is slowly recovering from a civil conflict which began in 1999.

The oil industry, which is primarily located offshore, has been relatively unaffected by the civil strife and oil exports account for 28% of the country’s total export earnings.