Perseus Mining Secures Presidential Decree for Yaoure Mine Underground Project

What's Happening?

Perseus Mining has received a presidential decree authorizing the development of the CMA underground project at its Yaouré Gold Mine in Côte d’Ivoire. This decree allows Perseus to proceed with the establishment of the underground operation beneath the existing CMA open pit, extending the mine's operational life until at least 2035. Infrastructure works for the underground mine are complete, and decline development will commence following the commissioning of underground mining equipment by contractor Byrnecut. The first ore production is targeted for January 2026, with commercial production expected by March 2027. The project represents a significant investment of $170 million, marking a new phase in Perseus's partnership with the Ivorian government.

Why It's Important?

The development of the CMA underground project is a major milestone for Perseus Mining, enhancing its production capabilities and contributing to the growth of Côte d’Ivoire's mining industry. The project is expected to create economic opportunities, including job creation and increased revenue from gold exports. It also underscores the importance of sustainable mining practices, as the project has undergone environmental and social impact assessments. The investment reflects Perseus's commitment to expanding its operations and strengthening its position in the global mining sector. The successful implementation of this project could attract further investment in the region's mining industry.

What's Next?

With the presidential decree in place, Perseus will focus on the immediate commencement of mining operations, including the cutting of portals and accessing new ore sources. The company will continue to collaborate with the Ivorian government to ensure compliance with environmental and social standards. As the project progresses, Perseus may explore additional opportunities for expansion and resource development. The mining industry in Côte d’Ivoire could see increased interest from international investors, potentially leading to further exploration and development projects.