RESOLUTE Mining has given the final thumbs up for its $516m Doropo project in Côte d’Ivoire, scoped in a recent feasility study to produce an average of 169,000 ounces of gold a year over the mine’s 13-year life.
“This decision reflects the quality of the Doropo Gold Project, the robustness of our technical work, and our confidence in the operating environment,” said Resolute CEO Chris Eger. Construction is scheduled to begin before mid-year
Resolute said the decision followed receipt of a mining permit from Côte d’Ivoire. Doropo is part of Resolute’s 500,000 oz/year target by end 2028.
The company said it would continue to evaluate funding options as the project advances and additional growth initiatives were identified. Resolute had net cash of $209m as at December 31.
Resolute bought Doropo from AngloGold Ashanti last year for $175m. Prior to that, Doropo was owned by Centamin which AngloGold bought in 2024 for $2.5bn.
Payback on Doropo is calculated at 1.1 years, assuming a gold price of $4,000/oz. Assuming the same, the project has a net present value of about $2.54bn at a 5% discount rate and $2.2bn assuming a 7% discount.
