By: Ecofin Agency

Montage Gold has secured a $75 million loan to accelerate development of its Didiévi gold project, reinforcing Côte d’Ivoire’s central role in the Canadian miner’s growth strategy as it prepares to bring its first major mine in the country into production.

In its operational report published August 11, Montage said the financing will support its development plans for Didiévi, which joined its portfolio only a few months ago. The company is also developing the Koné gold project in Côte d’Ivoire.

Didiévi became part of Montage’s portfolio in April 2026 after the company completed its $170 million acquisition of African Gold, which previously owned the asset. The project contains 989,000 ounces of mineral resources, and Montage has identified it as its next development project.

The $75 million loan from Macquarie Bank will help finance that strategy. Montage has already used part of the funding to increase its ownership of Didiévi. Through its acquisition of African Gold, the company initially obtained an 80% stake, with minority shareholders holding the remaining 20%.

Montage has since reached a binding agreement with those shareholders to increase its interest to 95.5% for $57.7 million. The financing will also support further exploration. In the second quarter of 2026, Montage announced a 60,000-meter drilling program designed to better define Didiévi’s resources and assess its potential for expansion.

Côte d’Ivoire Takes a Bigger Role in Montage’s Growth Plans

The financing marks an initial step in Montage’s strategy for Didiévi and further strengthens the importance of Côte d’Ivoire in the company’s portfolio.

While Didiévi remains at an earlier stage, Montage is simultaneously developing Koné, where production is expected to start in the fourth quarter of 2026. Construction is estimated to cost $712 million, and the mine is expected to produce about 300,000 ounces of gold annually. According to the company’s projections, that would make it one of Côte d’Ivoire’s next major gold mines.

Montage also holds several less advanced assets in the country. These include Wendé, where an initial exploration program began in 2026, as well as the Konahiri North, Konahiri South and Koyekro prospects acquired through the African Gold transaction.

Didiévi is expected to represent the next stage of that expansion, but significant work remains before the project can potentially enter production. Montage must expand and better define its mineral resources, advance the asset toward construction and secure the resources required for development while progressively addressing the technical uncertainties associated with the project.

The roughly 60% increase in gold prices in 2025 provides a favorable backdrop for the strategy. The $75 million financing gives Montage additional resources to advance Didiévi, but the project’s progress through exploration and toward construction will determine whether it can become the company’s next producing asset in Côte d’Ivoire.