{"id":1093803,"date":"2019-01-11T15:00:22","date_gmt":"2019-01-11T15:00:22","guid":{"rendered":"http:\/\/www.mining.com\/?p=963063"},"modified":"2019-01-11T15:00:22","modified_gmt":"2019-01-11T15:00:22","slug":"endeavour-mining-increases-stake-in-ity-gold-mine-to-85","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1093803","title":{"rendered":"Endeavour Mining increases stake in Ity gold mine to 85%"},"content":{"rendered":"<p>Canada\u2019s Endeavour Mining (TSX:EDV) (OTCQX:EDVMF)\u00a0<a href=\"https:\/\/www.endeavourmining.com\/news-releases\/press-release-details\/2019\/Endeavour-Increases-Its-Ity-Mine-Ownership-From-80-to-85\/default.aspx\"  rel=\"noopener\">has increased its stake in its Ity gold mine<\/a> in\u00a0Ivory Coast to 85% from 80% by buying shares in the operation from a local company owned by former soccer star.<\/p>\n<p>DYD International Holding founded by Didier Drogba, an ex Chelsea Football Club striker who also represented Ivory Coast\u2019s national team, received about one million shares in Endeavour Mining for a total of $15 million (CAD$20 million), based on a share price in the Toronto-listed firm of C$18.50 per share.<\/p>\n<p>The deal, closed on Thursday, leaves Endeavour Mining with a majority stake in Ity gold mine, with the Government of Ivory Coast having a 10% and Sodemi (a state-run mining company) owning the remaining 5.<\/p>\n<p><q class='pullQuote-right'>The Canadian miner now owns 85% of Ity, the government of Ivory Coast 10% and State-owned mining company Sodemi the remaining 5%.<\/q><\/p>\n<p>The gold producer approved in 2017 a <a href=\"http:\/\/www.mining.com\/endeavour-add-14-years-ity-mine-life-kicks-off-plant-construction\/\"  rel=\"noopener\">$412-million upgrade project<\/a>\u00a0for Ity, which will extend the mine\u2019s life by 14 years, based on current reserves of 2.9 million ounces, up by one\u00a0million ounces since the latest feasibility study.<\/p>\n<p>First gold pour from the mine is anticipated to occur in early spring, as the project is tracking two months ahead of schedule, the company <a href=\"https:\/\/www.endeavourmining.com\/news-releases\/press-release-details\/2018\/Endeavour-Reports-Q3-Results\/default.aspx\"  rel=\"noopener\">said in a previous statement<\/a>.<\/p>\n<p>Endeavour also has another mine in the country \u2014 Agbaou. In 2017, that operation and Ity mine yielded a combined 236,000 ounces of gold, and that figure is expected to be between 200,000 and 215,000 ounces for 2018.<\/p>\n<p>Endeavour has\u00a0<a href=\"http:\/\/www.mining.com\/endeavour-mining-to-buy-true-gold-and-new-african-gold-mine\/\"  rel=\"noopener\">expanded its portfolio in recent years<\/a>\u00a0and it now has counts with seven mines and projects in African countries, including Ivory Coast, Ghana, Mali and Burkina Faso.<\/p>\n<p>The miner anticipates a combined output of between 670,000 and 720,000 ounces of gold for 2018.<\/p>\n<p>Ivory Coast, the world\u2019s top cocoa producer, aims to increase gold production to diversify its economy. In 2017, the country produced around 25 tonnes of gold.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/endeavour-mining-increases-stake-ity-gold-mine-85\/\">Endeavour Mining increases stake in Ity gold mine to 85%<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Canadian miner now owns 85% of Ity, the government of Ivory Coast 10% and State-owned mining company Sodemi the remaining 5%.<\/p>\n<p>The post <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/endeavour-mining-increases-stake-ity-gold-mine-85\/\">Endeavour Mining increases stake in Ity gold mine to 85%<\/a> appeared first on <a rel=\"nofollow\" href=\"http:\/\/www.mining.com\/\">MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1001,1002,871,872,404,369],"tags":[9,25,34,154,47,48],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1093803"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1093803"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1093803\/revisions"}],"predecessor-version":[{"id":1093872,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1093803\/revisions\/1093872"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1093803"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1093803"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1093803"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}