• Perseus plans to produce between 2.6 and 2.7 million ounces of gold from 2026 to 2030

• About $878 million will be invested, including $523 million for the Nyanzaga mine in Tanzania

• Output includes production from mines in Côte d’Ivoire, Ghana, and Tanzania

Australian mining firm Perseus Mining aims to produce between 2.6 and 2.7 million ounces (about 80 to 84 tons) of gold from its African operations between 2026 and 2030, according to its five-year production plan released on June 11. The company targets an average annual output of 515,000 to 535,000 ounces from its four key assets.

Perseus currently operates the Yaouré and Sissingué mines in Côte d’Ivoire and the Edikan mine in Ghana. It also plans to launch the Nyanzaga mine in Tanzania in 2027.

Over the five-year period, the Yaouré mine is expected to contribute up to 905,000 ounces, while Sissingué should add 275,000 ounces. The Edikan and Nyanzaga mines are each forecast to deliver around 750,000 ounces. The new Tanzanian mine is part of the group’s strategy to extend its portfolio into East Africa.

To support these operations, Perseus plans to invest $878 million, including $523 million to build the Nyanzaga facility. Additional funds will be used to expand the Edikan mine and develop underground operations at Yaouré.

According to the company, 93% of the projected gold output is backed by proven and probable reserves, while 7% is based on measured and indicated resources that must still be converted into reserves. The firm also expects to produce between 470,000 and 505,000 ounces in fiscal year 2025 as a precursor to the growth phase.