Blues boss Roberto Martinez confirmed the news yesterday.
Martinez said: "At the moment, it's too early to have a final answer on Traore because we don't know how long he's going to be out.
"I think it's important that we're working together with Monaco, because I think what we need to get right is that the player gets the perfect treatment.
"When I say the perfect treatment, this is not a straightforward injury. It's an injury that can be solved by a conservative treatment, or it can involve surgery - and I think that's a massive, massive decision.
"Depending what route we're going down, it's going to have certain consequences. It could mean that Lacina can play for us again or he can't.
"If it's only going to be three or four weeks, we want him here. If it's going to be anything longer than two or three months, clearly the loan period is over. It is going to depend how the conversations go today."
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