Montage Gold has announced the production of its first gold at the Koné mine in Côte d’Ivoire, delivering this result within budget and earlier than originally planned.
Gold production began following the introduction of ore into the oxide circuit earlier in the month, ahead of the original schedule, which targeted commencement in the second quarter of 2027 (Q2 2027).
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The company processed more than 400,000t of ore prior to the first gold pour, resulting in an output of approximately 1,140oz.
The full ramp-up of the oxide circuit to commercial production is expected by the end of 2026.
Montage said that construction of the hard-rock comminution circuit is proceeding as planned.
Construction activities at the Koné mine have created an estimated 3,600 jobs, with more than 95% of positions filled by nationals.
The company attributed the high local employment rate to pre-construction training programmes.
As operations scale up, Montage expects to provide around 1,500 permanent roles.
Mining activities at the Koné deposit are ongoing, with the oxide circuit allowing for direct feeding of surface ore to the plant, requiring limited rehandling.
Higher-grade ore from the Gbongogo Main deposit is due to be mined from late 2026, with work at other recent satellite discoveries planned for 2027.
According to Montage, reserves at the Koné mine, as outlined in the 2024 updated feasibility study, stood at 4.01 million ounces (moz) at a grade of 0.72 grams per tonne (g/t) gold.
Measured and indicated resources for satellite deposits have increased to 1.66moz at 1.51g/t as of June 2026, compared to 520,000oz at 1.48g/t previously.
Overall, the mine’s total measured and indicated resources have risen to 6.29moz.
The company is currently carrying out more than 130,000m of drilling at the Koné site as part of a wider exploration programme, which is expected to total 380,000m since the 2024 feasibility study.
Montage plans to publish an updated life of mine plan alongside year-end reserves and resource figures, reflecting new exploration data and project initiatives.
Montage CEO Martino De Ciccio said: “We are thrilled to have achieved first production at our Koné mine safely, on budget and ahead of schedule.
“It marks a significant milestone in the rapid execution of our strategy of creating a premier multi-asset African gold producer.”
