Perseus Mining Takes FID on CMA Underground Project at Yaouré

Perseus Mining Ltd has announced a Final Investment Decision (FID) to develop the CMA underground project at the Yaouré Gold Mine in Côte d’Ivoire, marking a significant advancement in the region's mining sector. This project, expected to commence in mid-2025, will be Côte d’Ivoire's first mechanised underground mine and aims to extend the mine's operational life until at least 2035. The development follows an in-principle approval from the Ministry of Mines and Petroleum and the appointment of Australian contractor Byrnecut, who will also train local miners in underground operations. The CMA project is projected to contribute to Perseus's annual gold production, maintaining output between 500,000 to 600,000 ounces across its portfolio. Perseus reported a strong performance in the December 2024 quarter, with gold production increasing by 9% and a cash balance of $704 million, reinforcing its position as a leading mid-tier gold producer. This strategic move underscores Perseus's commitment to growth and operational excellence within the West African gold mining industry.