(Ecofin Agency) - Perseus Mining, an Australian company with three gold mines in Côte d'Ivoire and Ghana, has recently expanded its operations by acquiring a stake in the owner of the Bankan gold project in Guinea. 

On August 14, Perseus announced it had purchased a 13.82% interest in Predictive Discovery. The latter owns the Bankan gold project in Guinea. The project can deliver 80 tonnes of gold over 11 years.

Perseus $PRU is pleased to announce that it has acquired a relevant interest in 13.82% of the issued shares of Predictive Discovery Limited as a strategic equity investment.

Predictive is an emerging mineral development company listed on the ASX under the code $PDI. Its key… pic.twitter.com/Wp1ICG9Uyk

— Perseus Mining (@PerseusMining) August 14, 2024

Perseus extends its African footprint through the strategic investment. Guinea is a major gold producer in Africa.

Perseus owns two gold mines in Côte d'Ivoire, Sissingué and Yaouré, and one in Ghana, Edikan. Earlier this year, the Australian firm acquired OreCorp, gaining control of the Nyanzaga gold project in Tanzania. Nyanzaga should produce its first gold in Q1 2027. Additionally, Perseus has a gold project in Sudan.

“Predictive’s Bankan Gold Project is an attractive gold development project located in a jurisdiction that has an increasing presence in the gold mining industry. We are looking forward to working with the Predictive management team and Board to help realise the potential of the Bankan Gold Project,” commented Jeff Quartermaine, CEO of Perseus.

Predictive Discovery is currently in the process of obtaining a mining permit, having submitted the results of an Environmental and Social Impact Assessment (ESIA) for the Bankan project in July. According to a pre-feasibility study released in April 2024, an initial investment of $456 million will be needed to develop the gold mine.