US$835mn to deliver Koné Project in Côte D’Ivoire

Montage Gold has entered into a final documentation with Wheaton Previous Metals International Ltd. And Zijn Mining Group Co Ltd. in order to unlock financing for the Koné gold project in Côte d’Ivoire

“Today’s announced US$825mn funding package for the construction of our flagship Koné project in Côte d’Ivoire provides significant funding headroom, ahead of launching our construction, as it increases our liquidity sources to approximately US$970mn," Martino De Ciccio, CEO of Montage. "Moreover, it is the culmination of an exhaustive financing process which generated strong interest given the high-quality nature of our project coupled with management’s proven construction track record.

“With the financing milestone now achieved, we look forward to soon launching the construction of our Koné project, which is set to become West-Africa’s next sizable, long-life, low production-cost gold mine, and poised to unlock value for all stakeholders.”

Randy Smallwood, president and CEO of Wheaton Precious Metals Corp., added, “With essential permits in place coupled with its impressive scale, we believe the Koné Project stands out as one of the premier gold assets in Africa and we are very pleased to partner with Montage to deliver a full financing package for its development. Supported by strong shareholder backing from the Lundin Group and Zijin Mining, the Koné Project is expected to significantly boost Wheaton’s near-term annual gold production and further strengthen our peer-leading growth trajectory.

"We look forward to collaborating with Montage’s outstanding team, whose extensive experience in West Africa had driven remarkable progress in de-risking the project and advancing it towards construction.”

The new announcement is the next step in the mine’s rapid progress towards construction. In July, the Council of Ministers of Côte d’Ivoire awarded the mining permit for the project to Montage. Click here to learn more.