Ivory Coast: the mining sector confirms its vibrant health

Unveiled on Thursday 27 February by the Minister of Mines and Geology, Jean-Claude Kouassi, the annual revenue generated by the Ivorian mining sector in 2019 confirms the sector’s solid performance: with cumulative revenue of 761.9 billion CFA francs (US$1.29 billion) recorded over the period, compared to 582.3 billion CFA francs (US$0.99 billion) in 2018, the increase reached 30.76% over 12 months. This strong increase is largely due to the excellent results achieved by the country’s gold industry, which saw its production increase not only by 35% (32.48 tonnes in 2019 compared to 24.06 tonnes in 2018) but also benefited from the good performance of world prices (+28% over the year). And, naturally, the sector’s brilliant health was reflected in increased tax revenues, which rose from CFAF 65.8 billion in 2018 to CFAF 94.6 billion in 2019 (+43.6%).