Tanzania: Construction of Nyanzaga Gold Mine Risks Delaying
Friday, 06 December 2024 09:57
Perseus Mining acquired the Nyanzaga gold project this year, potentially its fourth gold mine in Africa. Though it delayed to secure the necessary approvals, the company intends to start gold production by early 2027.
Perseus Mining announced on December 5, 2024, that the final investment decision (FID) for the Nyanzaga gold mine has been postponed to January 2025. FID was expected for the end of this year.
Perseus reassured that the delay will not affect the planned start of gold production in 2027. “Following the FID, development works will commence immediately, leading to the production of first gold at the Nyanzaga gold mine by January 2027,” stated Perseus Mining’s CEO Jeff Quartermaine.
Ahead of the activity launch, Perseus started drilling at Nyanzaga last August to estimate the project’s mineral resources and ore reserves. Foundational engineering work (FEED) is also underway, alongside plans for relocating communities affected by the Nyanzaga project.
The Nyanzaga gold mine could help raise Tanzania's gold output by 234,000 ounces yearly over a 10-year lifespan. This venture will be Perseus Mining's fourth gold mine on the African continent. Its other mines are in Ghana and Côte d'Ivoire.
Live News
-
Low-income countries receive only 15% of climate adaptation finance, FERDI says
05:16
-
South Sudan Reaches Security Deal to Protect Sudan’s Heglig Oil Field
05:11
-
Zambia Secures $900mln Investment to Add 1,300 MW of New Power Capacity
05:08
-
Tanzania Expands Irrigation to Lift Coffee Output
05:00
-
With AI, Hassan Arslan Turns Meetings Into Verifiable Data
14:19
-
Algeria Launches Digital System to Overhaul Hospital Transfer Process
14:16
-
Tech Entrepreneur Samir Tamri Launches Platform to Track Employee Experience in Real Time
14:06
-
BGFI Bank, YUNUS S.A Inject Over 494 million FCFA Into 21 Youth-Led Start-Ups
13:38
-
Starlink Steps Closer to Cameroon Launch as ART Submits Draft Agreement to Supervisory Authority
11:49
-
Cameroon’s Digital Economy Grows as Telecom Sector Posts One Trillion F in 2024
11:39
Omer-Decugis & Cie acquired 100% of Côte d’Ivoire–based Vergers du Bandama. Vergers du Band...
Eritrea faces some of the Horn of Africa’s deepest infrastructure and climate-resilience gaps, lim...
Huaxin's $100M Balaka plant localizes clinker production, saving Malawi $50M yearly in f...
Nigeria seeks Boeing-Cranfield partnership to build national aircraft MRO centre Project aims t...
Benin says a coup attempt was foiled, crediting an army that “refused to betray its oath.” ...
Low-income countries captured just 15% of adaptation finance flows between 2019 and 2023 International adaptation finance averaged $40.1 billion...
Tanzania’s coffee regulator is developing irrigation to raise yields year-round Thirteen wells have been drilled in major coffee regions, with twelve...
Kenya’s High Court has suspended the new U.S.–Kenya health cooperation framework Consumer groups and a senator challenge the deal over data privacy and...
Ethiopia will use digital platforms to register voters and candidates for the 2026 elections NEBE has deployed online tools, mobile apps, call centers,...
Cameroon’s REPACI film festival returns Dec. 11-13 with 135 short films Events include screenings, masterclasses, panels on social cinema and...
Cidade Velha, formerly known as Ribeira Grande, holds a distinctive place in the history of Cape Verde and, more broadly, in the history of the Atlantic...