On Monday, October 6, 2025, the pan-African conglomerate Atlantic Group, led by Koné Dossongui, announced that it had reached an agreement in principle to sell the Tongon gold mine (and certain adjacent exploration permits) in Ivory Coast to Barrick Mining Corporation for up to $305 million. For Atlantic, this is a major entry into the mining sector and marks the transfer of a world-class gold asset to a local Ivorian player.
In a statement, Koné Dossongui, president of Atlantic Group, said the acquisition was “a historic milestone” for the Group and for Côte d’Ivoire, affirming his commitment to “responsible and sustainable investments that benefit all stakeholders.” No figures (transaction amount, investment level, or production targets) have been disclosed at this stage.
Initially scheduled to close in 2020, Tongon’s lifespan has been extended thanks to the success of Barrick’s exploration efforts. Since the first gold deposit was discovered in 2010, Tongon has generated more than $2 billion in investment in the Ivorian economy in the form of taxes, infrastructure development, salaries, and payments to local suppliers.
The transaction is expected to close in late 2025, subject to customary closing conditions, including approval by the government of Côte d’Ivoire.
Founded 48 years ago and owned by an Ivorian entrepreneur, Atlantic is a leading private pan-African multi-sector group with operations in financial services, agriculture, and industry, and a strong presence in 15 African countries. The acquisition will be completed through the purchase of Barrick’s interests in the two Ivorian subsidiaries that hold the mining and exploration permits. By transferring ownership to an Ivorian partner, Tongon is embarking on a new chapter under local leadership while preserving its operational excellence and benefits to the community.
By Africa O’Clock, PR and Communications Agency
