(Ecofin Agency) – Côte d’Ivoire has partnered with a Chinese company to exploit a coltan deposit. This will position the West African country as a new supplier alongside Rwanda and the DRC.
Côte d’Ivoire paired with a Chinese firm to exploit “an economically viable coltan deposit” in the Issia department. According to the May 22 Ministers’ Council report, SODEMI, the State-owned mining company, will hold 51% of Ivoire Coltan, the joint venture established to steer the project.
SODEMI, which discovered the deposit and holds its permit, will contribute 306 million FCFA (around $505,000) to the 600 million FCFA ($1 million) joint venture capital. The state will own 10%, while the undisclosed Chinese partner will hold 39% and provide the remaining capital.
While production capacity and development costs are unknown at the moment, the project aims to make Côte d’Ivoire a coltan producer. The DRC and Rwanda currently dominate global coltan production, a key electronics component.
Côte d’Ivoire has other promising assets, like Firering Strategic Minerals’ Atex project showing coltan concentrate potential. In 2022, the ECOWAS Investment and Development Bank announced 4.7 billion FCFA ($7.7 million) in financing for a coltan processing plant in the country.