Resolute Mining Eyes Production Boost with Côte d’Ivoire Gold Project Acquisition

Highlights 

• Resolute Mining expands into Côte d’Ivoire with US$150 million deal 
• Acquisition includes Doropo and ABC gold projects 
• New assets aim to boost output beyond 500,000 ounces annually 

In a strategic step to expand its African footprint, Resolute Mining (ASX:RSG) has entered into a binding agreement to acquire two promising gold projects in Côte d’Ivoire from AngloGold Ashanti (ASX:AGG) for a total consideration of US$150 million (approximately AUD$234 million). 

Deal Overview 

The acquisition includes the Doropo and ABC projects and will be executed in a structured payment format. Resolute will make an initial cash payment of US$25 million, with the remaining US$125 million set as deferred payments—US$50 million due 18 months after deal closure, and another US$75 million 30 months post-closing. 

The transaction also includes a 2% royalty on the ABC project and a contingent payment of US$10 million, payable upon a feasibility study confirming a gold reserve exceeding one million ounces. As part of the agreement, Resolute will transfer all of its exploration permits in Guinea to AngloGold Ashanti. 

Project Details 

The Doropo project, which is already in the feasibility stage, boasts a mineral reserve estimate of around 1.9 million ounces. The ABC project, meanwhile, is a greenfield exploration site with an inferred resource of approximately 2.2 million ounces. These assets are expected to play a key role in Resolute’s goal of increasing its near-term production to over 500,000 ounces annually. 

According to Resolute’s management, these additions significantly strengthen the company’s portfolio by diversifying geographical risk and enhancing growth potential. The company currently operates the Syama gold mine in Mali, where it holds an 80% stake, with the remaining 20% owned by the Malian government. 

Strategic Expansion in Africa 

This acquisition aligns with Resolute Mining’s broader strategy of building a robust asset base across West Africa. By integrating the Doropo and ABC projects into its development pipeline, Resolute is positioning itself for stronger production capacity and future scalability. 

Investors tracking the ASX200 index may take note of such strategic developments that could reshape the mid-tier mining segment in the region. Moreover, with rising interest in ASX dividend stocks, growth-driven resource players like Resolute can potentially offer compelling opportunities. 

With the closing of this transaction, Resolute will not only add valuable gold resources to its portfolio but also reinforce its commitment to becoming a leading gold producer in the West African region.