March 22, 2013 / 6:59 PM / 5 years ago

Canada's La Mancha takes full control of Ivory Coast gold mine

ABIDJAN (Reuters) - Canadian miner La Mancha has taken over full ownership of the Ity gold mine it operates in Ivory Coast, the company’s chairman of the board said on Friday.

La Mancha previously held a 45.9 percent stake in the Ity mine located in the western Zouan Hounien region through a joint venture with the West African nation’s government.

“We have taken over 100 percent of the activities of the Ity gold mine. We will proceed with expansion activities,” Naguib Sawiris told journalists in the commercial capital Abidjan following a meeting with President Alassane Ouattara.

He did not say how much the company had paid for the remaining stake in the project.

Ity has produced more than 800,000 ounces of gold since it opened in 1991.

Reporting by Loucoumane Coulibaly; Writing by Joe Bavier; editing by Jason Neely

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