Mining

Gold: Perseus Mining Expands to Guinea

Gold: Perseus Mining Expands to Guinea
Thursday, 15 August 2024 19:46

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 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.

On the same topic
Liberia granted TotalEnergies rights to explore four offshore blocks totaling 12,700 km². The French group will run a program including 3D seismic...
Empower New Energy got approval to develop a 4 MW solar plant in Awasi, Kenya. The $2.5 mln deal with Abyssinia Group will supply clean power...
• Kenya, Shandong Linglong sign $800M tire factory deal• Plant in Mariakani to create 1,500+ jobs, boost industry• Part of Kenya’s push to raise FDI...
• South Africa court voids Eskom’s 3,000 MW gas plant permit• Ruling cites inadequate public consultation, forcing new application• Decision highlights...
Most Read
01

From Dakar to Nairobi, Kampala to Abidjan, mobile money has become a lifeline for millions of Africa...

Africa's Boundless Future: How a simple mobile phone became a pocket bank for millions
02

Airtel Gabon, Moov sign deal to share telecom infrastructure Agreement aims to cut costs, boo...

Gabon’s Airtel, Moov to Share Towers Under Govt-Brokered Deal
03

• WAEMU posts 0.9% deflation in July, second month in a row• Food, hospitality prices drop; alcohol,...

WAEMU Region Records Second Straight Month of Deflation, at -0.9% in July 
04

Malawi votes in high-stakes presidential election Tuesday Economic crisis, inflation dominate vot...

Malawi’s Election Puts Incumbent Chakwera to the Test on Inflation and Fuel Shortages
05

Vision Invest invests $700m in Arise IIP, Africa’s largest private infrastructure deal in 202...

Saudi Arabia’s 2025 Shopping List Now Includes Industrial Parks in Africa — With a $700 Million Entry Ticket
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.