Atlantic Group, the pan-African conglomerate led by Ivorian businessman Koné Dossongui, has secured a $150 million financing package to complete its acquisition of the Tongon gold mine in Côte d’Ivoire. The funding, arranged by private equity firm Appian Capital Advisory, supports a deal valued at up to $305 million, including future performance-based payments.
Tongon, expected to produce up to 140,000 ounces of gold in 2025, will undergo new drilling programs aimed at extending its operational life. The acquisition marks Dossongui’s strategic move into gold mining, expanding a business empire built over two decades across banking, insurance, agro-industry, and manufacturing.
The financing structure combines senior secured debt with a gold stream agreement, alongside a price-protection mechanism to stabilize revenues if gold prices fall—an approach commonly used in large resource transactions.
Atlantic Group, founded in 2006 and active in more than 15 countries, has recently accelerated investments across its industrial operations. Its cocoa subsidiary in Cameroon, Atlantic Cocoa, recently expanded its Kribi factory to boost processing capacity.
For Dossongui, the Tongon deal signals a deeper push into sectors viewed as critical to West Africa’s long-term growth. Once completed, it will stand among Côte d’Ivoire’s most significant private-sector mining transactions in recent years
