News Bureau

Cote d'Ivoire to increase stake up to 80%

Recently Endeavour Mining Corporation confirmed, it has received an in-principle agreement from the Government of Cote d'Ivoire to increase its stake in the Ity mine from 55% to 80%.

The Cabinet meeting held this morning by the President of Cote d'Ivoire, his Excellency M. Ouattara, approved the in-principal agreement for SODEMI, the state-owned mining company, to sell a 25% shareholding in the Ity mine to Endeavour.

Following the transaction, the Ity mine would be 80%-owned by Endeavour, 10% by the Drogba Group and 10% by the government of Cote d'Ivoire. The commercial terms of the transaction remain to be finalized.

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