Industry & Mining
From The Report: Cote d'Ivoire 2018
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Industry has quickly become a critical component of the Ivorian economy. This is due, in large part, to an abundance of highly sought-after natural resources. Despite insufficient levels of investment in previous years, Côte d’Ivoire is slowly trying to reclaim its former position as West Africa’s manufacturing centre. Indeed, the sector’s profile is being raised by the creation of new industrial zones and the renovation of existing ones. With several of the world’s mining operators increasing their commitment to West Africa, Côte d’Ivoire remains one of the least explored countries in the region. Mining activity is set to increase in the coming years; however, further investor confidence will depend on the ongoing implementation and validation of the new mining code over the medium term. Easing operating costs by improving infrastructure and logistics performance, as well as reducing electricity prices, which can account for 27% of production costs for mining companies in Côte d’Ivoire, should galvanise further investment.

This chapter contains an interview with Mark Bristow, CEO, Randgold Resources.

Articles from this Chapter

Overview

Transformation plans: Unexploited natural resources attract global attention
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Consecutive years of growth have helped to rebuild Côte d’Ivoire’s industrial base, after years of civil unrest and insufficient investment. Although the country has some way to go to reclaim its former position as West Africa’s manufacturing centre, a combination of prudent government policies and foreign direct investment (FDI) across productive segments is helping to raise the sector’s profile in the Ivorian economy. Accelerated expansion of GDP over the past five years has allowed…

Analysis

Upgrading production: Efforts are under way to strengthen the sector’s resilience and regional cooperation
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The civil conflict in the early 2000s led to a slowdown in investment and resulted in much of the country’s infrastructure to fall into disrepair. However, government programmes have since began to reverse the situation. One of the main strategies to make the industrial sector more resilient, and increase its participation in the country’s GDP, was the implementation of National Restructuring and Upgrading Programme (Programme National de Restructuration et de Mise à Niveau, PNRMN). The…

Analysis

Connection point: Fast-moving consumer goods firms seek to expand their presence in the Ivorian market
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Although it has increasingly become an important regional market in itself, Côte d’Ivoire’s geographic position has also made it a preferential destination for fast-moving consumer goods (FMCG) firms to base their regional operations. Attesting to that, several large-scale international operators are pushing through with plans to open new manufacturing and distribution centres to cater to West Africa’s mostly francophone markets. These new ventures are taking advantage of two significant…

Overview

Unearthing opportunity: Exploration is yielding new discoveries, as regulatory changes continue to reshape the sector
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With several of the world’s mining operators increasing their commitment to West Africa, Côte d’Ivoire remains one of the least explored countries in the region. Although the sector’s contribution to the national economy remains limited – at around 2% of GDP – proven reserves in gold, bauxite, iron ore, nickel and diamonds have positioned the industry as an important way for the country to diversify the economy away from its dependency on agricultural commodities. The ongoing implementation…

Interview

Unique prospects: Mark Bristow, CEO, Randgold Resources, on the country’s mining potential and investment environment
OBG
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Interview: Mark Bristow How competitive is Cote d’Ivoire’s investment environment for mining companies? MARK BRISTOW: The revision of Cote d’Ivoire’s mining code was devised with the purpose of attracting foreign investment into a country that had suffered from a decade of unrest. In this context, some major improvements were achieved, including the introduction of sliding scale royalties on gold and other commodities production, and a five-year tax holiday which facilitates return on investment…