Resolute Mining has secured a $150 million deal to acquire two key gold assets in Côte d’Ivoire from AngloGold Ashanti, strengthening its operational footprint in West Africa and targeting a significant boost in gold output.
The binding agreement covers the acquisition of the Doropo and ABC gold projects. Payment will be made in three instalments: $25 million upon completion, $50 million after 18 months, and a final $75 million after 30 months. The transaction also includes a 2% net smelter return royalty and performance-based milestone payments linked to the ABC Project.
In a parallel move, Resolute will transfer its Guinean exploration portfolio to AngloGold through the divestment of its Guinean subsidiary. This transfer, subject to government approval, must be completed within 18 months. Failing that, Resolute will pay AngloGold $25 million in compensation.
The acquisition is a major step in Resolute’s strategy to lift annual gold production above 500,000 ounces within the next three years. Doropo, which spans about 1,850 square kilometres under seven exploration permits, is expected to become a cornerstone asset. The project holds an estimated 38.2 million tonnes of ore at 1.53 grams per tonne, with targeted annual production of 167,000 ounces over a decade.
Resolute plans to fund the development through existing liquidity and debt facilities, while also initiating talks for project-specific financing. A final investment decision is anticipated by the end of 2025, following the completion of an updated definitive feasibility study. First production at Doropo is expected by mid-2028.
The ABC Project, still in early exploration, carries an inferred resource of 2.16 million ounces and is seen as a promising growth opportunity.
Resolute’s CEO Chris Eger described Doropo as a low-cost, high-impact addition to the company’s portfolio. “Doropo complements our Syama operation in Mali and the Mako mine in Senegal. Together, these assets will underpin our cash flow and support our ambition to become a leading, diversified gold producer in Africa,” he said.
Eger also pointed to ongoing exploration near Mako, including the Bantaco and Tomboronkoto satellite targets, as key elements of Resolute’s expansion strategy.
The move into Côte d’Ivoire marks a geographical diversification for Resolute, reducing its exposure to individual markets and strengthening its regional resilience.
Meanwhile, in November 2024, the company resolved a longstanding tax dispute with the Malian government by agreeing to a $160 million settlement, removing a significant overhang from its Malian operations.
With this latest acquisition, Resolute Mining is positioning itself for long-term growth and deeper integration within West Africa’s mining sector.