About | Compagnie Miniere Du Bafing (CMB)

About

Compagnie Miniere Du Bafing’s (“CMB”) operations are located in Ivory Coast, which is rapidly developing as one of Africa’s leading mining jurisdictions. CMB today operates the Foungouesso and Moyango opencast mines and has built an integrated mining and logistics operation working in partnership with the Government of Ivory Coast. CMB works to maintain very close and constructive relationships with all the stakeholders in its areas of operations.

The Republic of Ivory Coast holds a free carry 10% share in the operations whilst SODEMI, the state mining company holds a 5% free carry shareholding. The Company provides employment for close to 1,000 people (employees and contractors) at its operations.

History

The nickel deposits in Ivory Coast are amongst the largest and richest nickel laterite deposits in the world and have been known for almost 50 years but no company before CMB managed to develop them.

2015

CMB’s parent company acquired the projects in 2015 and became the new partner of SODEMI. Following extensive and committed work by the NOCI team (exploration company, sister to CMB), the operation received a full mining licence in 2015.

2016

In 2016, the mine began production. CMB was registered and became the owner of the mining licence.

2018 to now

Working in partnership with the Government of Ivory Coast, CMB built an integrated mining and logistics operation in two years, shipping its first ore in February 2018 and has continuously expanded its mining and export capacity since then.

Ivory Coast

Famous for its cocoa production, Ivory Coast has also developed a major mining industry in recent years. Gold accounts for most mining exports, but nickel and manganese production are also growing. The development of mining has contributed to Ivory Coast’s GDP rising from $24.9bn in 2010 to $43.01bn in 2018 according to World Bank estimates.

This rapid development has resulted from a combination of political stability, significant investment in infrastructure and the launch of a new mining code in 2014. These conditions have encouraged mining investment in the country.

CMB’s mines are located in Western Ivory Coast and export to global markets via the San Pedro port in the South West of the country.