Lagune Exploitation Bongouanou SA secures powers from Govt of Ivory Coast to develop Bénéné Bauxite project

On 21^st July’20, the Ivory Coast Government relinquished all powers to Lagune Exploitation Bongouanou SA, to develop the Bénéné bauxite project. This is the only mining company owned by Ivorian private capital.

This concession is the outcome of the signing of addendum n ° 1 to the mining agreement concluded on 3^rd November 2017.

The signature comes after the transfer to the signatory company of the valid mining license for bauxite, previously granted in the department of Bongouanou to the company Lagune Exploitation Afrique SA. It is the result of negotiations between Côte d'Ivoire and the signatory company, within the negotiation committee which met on 10^th and 24^th June’20.

The approved document comes with an important section on the obligations of the company in terms of certification of reserves, compensation for affected populations and compliance with governance rules for commercial companies.

Jean-Claude Kouassi, Minister of Mines and Geology: “The mining administration will spare no effort to ensure compliance with the agreement and take the necessary measures in the event of a breach of obligations.”

He also warned: “It is only at this price that the exploitation of the bauxite deposits of Bénéné will be able to be profitable to the populations of Bongouanou, to the government and our country.”

Jean-Claude Kouassi welcomed this performance and assured that Ivory Coast has the means to consolidate its place as a first-choice mining destination and to face the troublesome effects of the coronavirus pandemic.