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Perseus signs mining convention for Yaouré

10th December 2019

By: Esmarie Iannucci

Creamer Media Senior Deputy Editor: Australasia

     

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PERTH (miningweekly.com) – Dual-listed gold miner Perseus Mining has officially signed a Mining Convention for its Yaouré gold mine with the government of Cote d’Ivoire.

The $265-million Yaouré project is expected to become a large-scale, low-cost gold mining operation producing an average of 215 000 oz/y over the first five years of its mine life, with first gold targeted in December 2020.

Once commissioned, Yaouré will become Perseus’ third gold mining operation.

“The signing of the Yaouré Mining Convention is a major milestone on the path of bringing the Yaouré gold mine into production. With the document now signed, we can move forward with confidence in the knowledge that the fiscal laws on which our decision to develop the mine is based, will not change during the life of the mine,” said Perseus MD and CEO Jeff Quartermaine.

“At this stage, an openpit mine with an expected mine life of eight-and-a-half years has been defined at Yaouré, however, it is considered likely that the life of the mine will be extended well beyond this limit as the very considerable mineral potential of the tenements on which the mine is located, is progressively unlocked.

“In this regard, work has begun on delineating mineral resources that can be mined using underground mining techniques and at this stage, the results of this work are encouraging,” Quartermaine said.

Edited by Creamer Media Reporter

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