Australian mining company Resolute Mining plans to invest between $170 million and $190 million in 2026 to develop the Doropo gold project, In Côte d’Ivoire. The budget, announced in the company’s quarterly report, is mainly intended to support the early stages of construction of the future mine.

Doropo, acquired from AngloGold Ashanti in May 2025, is set to become Resolute Mining’s third gold mine, alongside Syama in Mali and Mako in Senegal. The project’s feasibility study describes an asset capable of producing 170,000 ounces of gold a year over 13 years, with total investment estimated at $516 million.

To move the project forward, Resolute plans to reach a final investment decision by mid-2026. This step, still subject to obtaining a mining permit from the Ivorian government, would then allow construction work to begin, supported by the projected annual budget.

In practical terms, the funds will be used for earthworks, development of the mine’s construction camp, and the purchase of mining equipment. On financing, the company said it has more than $320 million in cash, along with “access to local and international capital.”

Under its current schedule, Resolute Mining expects construction at Doropo to continue throughout 2027, with first gold production planned for the first half of 2028. At that point, the company expects to almost double its total gold output, currently generated by Mako and Syama. Production is forecast to exceed 500,000 ounces, compared with 277,236 ounces reported for the 2025 financial year.

“Doropo remains on track for first production in the first half of 2028. This project is a key component of the Company’s strategy to become a more diversified gold producer, expanding across multiple assets and countries to achieve an annual production target of over 500 koz by the end of 2028,” said Resolute Mining Chief Executive Officer Chris Eger.

Beyond the company’s growth ambitions, investment in Doropo comes amid strong conditions in the gold market. After annual growth of about 70% in 2025, gold prices have maintained their upward trend, with spot prices this week breaking the historic $4,800 per ounce mark. This environment has directly benefited Resolute Mining, whose revenue rose by 30% in 2025.

Faster progress at Doropo is also expected to support growth prospects for Côte d’Ivoire’s gold sector. Authorities aim to raise national gold production to 100 tons within the next decade, up from 58 tons in 2024. In addition to Doropo, the country is also expecting the launch of other major mines, including the Koné project developed by Canada’s Montage Gold.

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