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Published: November 11, 2026 |
Montage Gold said it has achieved first gold pour at the company’s flagship Koné Mine, in Côte d’Ivoire, on-budget and ahead of schedule.
Construction began in December 2024, and the first gold pour was achieved on September 26, 2026, yielding approximately 1,140 ounces of gold. More than 400,000 tonnes of ore have been processed since ore was first introduced into the oxide circuit on September 8, 2026. The addition and early completion of the oxide circuit enabled gold production significantly ahead of the initial schedule. The oxide circuit is expected to reach commercial production in Q4-2026, while construction of the hard-rock comminution circuit remains on budget and on track for completion in Q2-2027.
“We are thrilled to have achieved first production at our Koné mine safely, on budget, and ahead of schedule. It marks a significant milestone in the rapid execution of our strategy of creating a premier multi-asset African gold producer,” said Martino De Ciccio, CEO of Montage.
“Koné is now the ninth operating gold mine in Côte d’Ivoire and poised to deliver strong benefits for all stakeholders, with approximately 3,600 direct jobs created to date, more than 95 percent of which are nationals, and many more indirectly created. We’d like to thank our employees for their strong dedication along with everyone who has contributed to reaching this important milestone, including our local stakeholders, financiers, suppliers and contractors,” added De Ciccio.
“We look forward to continuing to rapidly grow our business by advancing our development pipeline, with notably the Didievi Project in Côte d’Ivoire which is poised to become our next development asset,” concluded De Ciccio.
“We are extremely proud to be delivering the Koné Mine well ahead of schedule and on budget. Our ability to self-perform construction activities has significantly reduced capital cost requirements and allowed us to optimize the construction timeline,” said Peder Olsen, president and chief development officer of Montage.
“Ramp-up of the oxide circuit is progressing well with ore from the Koné deposit being directly fed into the mill, while we look forward to commencing mining activities at the higher-grade Gbongogo Main satellite deposit in late Q4-2026 and other recently discovered higher grade satellite deposits over the course of 2027,” added Olsen.
Construction of the Koné Mine has created approximately 3,600 jobs, of which more than 95 percent were nationals due to the training programs initiated prior to launching construction. Montage’s owner-mining operating model has allowed construction employees to transition within the operating team, due to further training programs and on-site truck-driving simulators. Once ramped up, the operation is expected to create approximately 1,500 permanent roles and many more indirect roles.
Mining activities at the Koné deposit are progressing well with low working capital requirements as the oxide circuit allows for minimal rehandling as the majority of the ore mined from surface is being fed directly into the plant. Mining of the higher grade Gbongogo Main deposit is expected to commence in late 2026, while mining at other recently discovered higher grade satellite deposits is expected to commence over the course of 2027.
An exploration program consisting of more than 130,000 meters of drilling is underway at the Koné Mine for 2026, which once complete will total more than 380,000 meters of drilling since the publication of the 2024 feasibility study, aimed at discovering higher-grade satellite deposits with the objective of boosting production from the onset. The company expects to publish an updated life of mine plan for the Koné Mine along with year-end reserves and resources, to incorporate new data for the Koné, Gbongogo Main, and other higher-grade satellite deposits, as well as the initiatives undertaken to further unlock value including the oxide circuit, process plant design enhancements, and the shift to an owner-operated mining model.
Montage Gold is a Canadian company focused on becoming a premier multi-asset African gold producer, with its flagship Koné Mine, located in Côte d’Ivoire, at the forefront. Based on the updated feasibility study published in 2024, the Koné Mine has an estimated 16-year mine life. The company has also built a high-quality, multi-asset growth pipeline including the Didievi and Wendé properties in Côte d’Ivoire, and a portfolio of prospective exploration tenements in Mauritania.
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