Côte d’Ivoire’s ambitions to become a major supplier of critical minerals received a significant boost after the European Bank for Reconstruction and Development committed $30 million to support one of the country’s largest mining projects.

The funding forms part of a broader $180 million syndicated financing package arranged for Polynickel West Africa Holding, the investment vehicle overseeing the country’s flagship nickel asset.

The financing consortium includes leading international lenders and replaces a short-term bridge facility that enabled Polynickel to acquire a controlling stake in Compagnie Minière du Bafing, a mining operation that hosts one of the world’s largest undeveloped nickel deposits.

Nickel becomes increasingly strategic

The transaction highlights growing investor appetite for nickel, a metal that has become increasingly important to global manufacturing and the energy transition.

Beyond its traditional use in stainless steel and heavy industry, nickel plays an expanding role in electric vehicle batteries, renewable energy infrastructure and advanced industrial technologies.

As governments and manufacturers race to secure reliable supplies of critical minerals, West Africa is emerging as a strategic source of future production.

Sustainability standards move to the forefront

As part of the agreement, the mining operation will adopt international environmental and social standards designed to strengthen sustainability and improve operational resilience.

The programme also introduces technical training for employees and contractors in health and safety, environmental management, engineering and corporate responsibility.

The initiative is expected to strengthen local technical expertise while helping Côte d’Ivoire develop a skilled workforce capable of supporting a modern mining industry.

Côte d’Ivoire expands its mining profile

Polynickel West Africa Holding B.V., a Netherlands-based investment vehicle wholly owned by CoreX Holding, oversees the industrial group’s strategic mining expansion across West Africa.

Controlled by Turkish billionaire Robert Yuksel Yildirim, the company served as the acquisition platform for CoreX’s majority stake purchase in Compagnie Minière du Bafing (CMB) in Côte d’Ivoire in December 2024, reinforcing investor interest in the region’s mining sector.

Founded in 1991 and headquartered in London, the European Bank for Reconstruction and Development (EBRD) finances private enterprise and infrastructure projects across emerging markets.

In Côte d’Ivoire, the bank is prioritising private-sector competitiveness, sustainable infrastructure investment and job creation initiatives aimed at accelerating long-term economic growth in one of West Africa’s fastest-growing economies.