Australia-based gold miner Resolute Mining announced on Thursday its final investment decision (FID) to develop the Doropo gold project in Côte d’Ivoire, marking the company’s third African venture after its Syama mine in Mali and Mako mine in Senegal.
The FID paves the way for construction to begin, following the completion of technical, economic, environmental, and social studies, as well as the granting of a mining permit by the Côte d’Ivoire Council of Ministers.
“This final investment decision represents a significant growth milestone for Resolute and advances our plan to become a diversified gold producer, aiming for annual production exceeding 500,000 ounces by the end of 2028,” said Chris Eger, MD and CEO of Resolute Mining.
According to the December 2025 definitive feasibility study, the Doropo project is expected to operate for around 13 years, producing an estimated 2.2 million ounces of gold over its lifetime. Annual output is projected at 169,000 ounces per year, increasing to 204,000 ounces in the first five years. Initial capital expenditure is estimated at $516 million, with life-of-mine all-in sustaining costs of $1,472 per ounce.
The project is forecast to generate post-tax free cash flow of $318 million and a post-tax net present value of $2.54 billion at a 5% discount rate, assuming a gold price of $4,000 per ounce. Construction will be financed from Resolute’s strong balance sheet, which held $209 million in net cash as of December 31, 2025, while additional funding options are under consideration.
Resolute Mining’s African operations
Resolute currently operates two producing gold mines in Africa: Syama in Mali and Mako in Senegal, with Doropo approved for development but not yet producing.
The Syama Gold Mine comprises the Syama Underground Mine, Tabakoroni Complex, and satellite pits, with Resolute holding an 80% stake and the Malian government 20%. The Mako Gold Mine in eastern Senegal has near-mine satellite deposits for potential life extension, with Resolute holding 90% and the Senegalese government 10%.
In Côte d’Ivoire, Resolute is developing the Doropo project and controls the ABC Project, a greenfield site with 2.16 million ounces of inferred resources across three permits along the Sassandra Fault. Exploration projects in Guinea (Niagassola, Siguiri-Kouroussa, Kourouba JV) and Senegal (Tomboronkoto, Bantaco, Laminia) aim to extend Mako’s mine life.
Significance of the Doropo project
The Doropo project strengthens Resolute’s African presence and complements its operations in Mali and Senegal. It is expected to provide substantial benefits to Côte d’Ivoire, including employment, engagement with local suppliers, and revenue generation. Analysts view the project as a vote of confidence in West Africa’s gold potential, positioning Resolute as a leading African-focused gold producer.
With projected annual production surpassing 500,000 ounces by 2028, Doropo leverages the company’s experience in Mali and Senegal to deliver value for both investors and host communities.
Context: Africa’s strategic minerals
West Africa and the Democratic Republic of Congo (DRC) remain globally important for mining. The DRC supplies roughly 70% of the world’s cobalt and holds large reserves of copper, gold, coltan, lithium, tin, and diamonds essential materials for electric vehicles, batteries, consumer electronics, and defence technologies.