Montage Gold has been granted an environmental permit by the Ministry of Environment, Sustainable Development and Ecological Transition of Côte d'Ivoire (MOE) for its Koné project, marking a significant step in the project's development.

The company obtained a signed ministerial order from the MOE for the project, which has a 16-year mine life and expected annual gold production of more than 300,000oz over the initial eight years.

It has also submitted mining permit applications and expects to receive all necessary approvals by the second half of 2024.

In preparation for the environmental permit, Montage completed an ESIA based on the project design detailed in the updated feasibility study.

The company noted that the ESIA was a collaborative effort with CECAF, an independent environmental consultancy in Côte d'Ivoire.

This comprehensive ESIA was submitted to the Agence Nationale de l'Environnement (ANDE) in December of the previous year.

ANDE, as the environmental division of the MOE, is tasked with ensuring that projects adhere to the nation's environmental standards.

This March, the ESIA secured the green light from a commission including multiple government agencies in a validation hearing, subject to minor variations that were addressed by Montage in association with CECAF.

Last month, CECAF submitted the revised ESIA report to ANDE, which has been cleared by the MOE in a signed ministerial order that includes approval for in-pit tailings disposal.

Montage CEO Martino De Ciccio said: “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 honoured to recently be received by President Alassane Ouattara of the Republic of Côte d'Ivoire at a ceremony in Abidjan, 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.”