Perseus expresses interest in Newmont’s Ghana mine sale

23rd February 2024 By: Mariaan Webb - Creamer Media Senior Deputy Editor Online

Perseus expresses interest in Newmont’s Ghana mine sale

Australian miner Perseus Mining will be interested in acquiring the Akyem mine, in Ghana, chairperson and CEO Jeff Quartermaine said on Friday.

This follows Newmont’s announcement on Thursday of its intention to not only sell Akyem, but also five other mines across Australia, Canada and US, as it refocuses its portfolio on ten tier-one assets.

Quartermaine highlighted the company’s strategic positioning as a potential investor in the Akyem mine, noting it was broadly familiar with the asset.

“We will certainly investigate the opportunity,” he said in a conference call on Friday, responding to a question about whether Perseus was interested in the asset that Newmont now deems noncore.

Quartermaine pointed out that Perseus had been operating in Ghana since its inception, and had strong relationships in that country.  

The company’s first mine was in Ghana. Since its first gold pour in late 2011, Edikan has delivered more than two-million ounces for Perseus.

In the six-months ended December 2023, Edikan produced 98 647 oz of gold and is forecast to produce between 191 000 oz and 201 00 oz in the full financial year to June 30, 2024.

According to Newmont, Akyem produced 170 000 oz at an all-in sustaining cost of $2 100/oz in 2023.