Montage Gold Corp. (TSXV: MAU) (OTCQX: MAUTF)
is pleased to announce the receipt of a signed Ministerial Order from the Ministry of the Environment, Sustainable Development and Ecological Transition of Côte d’Ivoire (the “MoE”) granting the environmental approvals necessary for the development of its Koné project (the “Environmental Permit”).In addition, Montage has submitted the mining permit applications for the Koné project and anticipates receiving all necessary approvals during H2-2024.
Prior to receiving the Environmental Permit, Montage team members were received by President of the Republic of Côte d’Ivoire at a ceremony in , during which the President reiterated the country’s support for the mining sector and the advancement of the Koné project given the positive benefits it can generate for all stakeholders.
Hugh Stuart, CEO of Montage, commented: “We are very pleased with the significant progress being made to advance our Koné project towards a construction launch, with significant support received from local stakeholders, lenders, and shareholders. The receipt of the environmental permit marks a significant milestone in our permitting process and reflects the strong support received from numerous government agencies and local communities. Furthermore, we were honored to recently be received by President of the Republic of Côte d’Ivoire at a ceremony in , during which the President reiterated the country’s support for the mining sector and the advancement of the Koné project given the positive benefits it can generate for all stakeholders. It was an opportunity to reiterate our goal of becoming the partner of choice for stakeholders by leveraging our win-win approach focused on local content. We look forward to continuing to build on the momentum created across our business to progress our strategy of creating a premier African gold producer, beginning in Côte d’Ivoire given the country’s highly favourable investment climate, significant geological potential, and our extensive experience in the region.”
Montage prepared the ESIA for the Koné project during 2023, based upon the project design as outlined in the updated Feasibility Study published on (the “UFS”). Montage worked closely in conjunction with the Cabinet d’Etudes Conseils d’Assistance et de Formation de Côte d’Ivoire (“CECAF”), an independent environmental consultancy firm which led the preparation the ESIA to ensure compliance with all applicable environmental standards prior to its submission.
The completed ESIA was submitted to the Agence Nationale de l’Environnement of Côte d’Ivoire (“ANDE”) in . ANDE is the environmental division of the MoE and is responsible for monitoring the compliance of projects and activities with environmental standards.
On , the validation hearing was held, during which the ESIA was approved by a commission comprised of numerous government agencies, including: Agence Nationale de l’Environnement (ANDE)
Agence Nationale des Energies Renouvelables (ANARE)
Direction Générale des Mines et de la Géologie (DGMG)
Direction Générale de la Protection de l’Environnement (DGPE)
Direction Générale des Fôrets et de la Faune (DGRF)
Direction Générale de l’Environnement et du Développement Durable (DGEDD)
In addition, various government representatives from the Prefets and sous-Prefets, and nearby village representatives were present.
During the hearing the ESIA was approved, subject to only minor variations all of which have been addressed by Montage in conjunction with CECAF. On , CECAF submitted the revised ESIA report to ANDE, which has been approved by the MoE in a signed Ministerial Order dated .
The Ministerial Order for the Environmental Permit includes approval for in-pit tailings disposal, a best practice in the mining industry, making Koné the first mine to receive this approval in Côte d’Ivoire.
With the Environmental Permit received, Montage has lodged its mining permit applications (“MPA”) with the Direction Générale des Mines et de la Géologie (“DGMG”) and expects to receive all necessary permits and approvals for the construction of the Koné project during H2-2024.
The MPA submissions cover a total area of 357.5 sq.km (Figure 2, 103.4 sq.km at Koné and 254.1 sq.km at Gbongogo) and encompasses the Koné deposit, the Gbongogo Main deposit, a 35km haulage corridor, along with sufficient land area for all plant and related surface infrastructure for development of the mine.
Montage Gold Corp. (TSXV: MAU) is a Canadian-listed company focused on becoming a premier multi-asset African gold producer, with its flagship Koné project, located in Côte d’Ivoire, at the forefront. Based on the Feasibility Study published in 2024, the Koné project ranks as one of the highest quality gold projects in with a long 16-year mine life, low AISC of /oz over its life of mine, and sizeable annual production of +300koz of gold over the first 8 years.
Over the course of 2024, the Montage management team will be leveraging their extensive track record in developing projects in to progress the Koné project towards an investment decision, thereby unlocking significant value for all its stakeholders.
