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Perseus receives presidential decree for underground project at Yaoure mine
Yahoo Finance· 2025-09-22 09:24
Core Points - Perseus Mining has received a presidential decree for the development and operation of the CMA underground project at the Yaouré Gold Mine in Côte d'Ivoire, allowing operations to continue until at least 2035 based on current mineral resources and ore reserves [1][2] - Infrastructure works for the CMA underground mine are complete, with decline development set to begin following the commissioning of underground mining equipment by contractor Byrnecut, targeting first ore production in January 2026 and commercial production in March 2027 [2][4] - The CEO of Perseus Mining highlighted the significance of the presidential decree as a major milestone, enabling immediate access to additional ore sources for processing [3][5] - The delay in receiving formal authorization allowed for the completion of necessary infrastructure and the readiness of Byrnecut's equipment for mining operations [4] - Perseus Mining plans to invest $170 million (A$257.92 million) in the CMA underground mine, marking a new phase in its partnership with the Government of Côte d'Ivoire [5]