Perseus pours first gold at second West African mine

West African-focused miner Perseus Mining has poured first gold at the Sissingué mine in Côte d’Ivoire one month ahead of schedule.

The dual-listed company will ramp-up to full-scale commercial production at Sissingué, its second mine in West Africa, by the end of March this year.

Perseus said it did not expect to exceed the $US107 million ($132.2 million) budget for the development of the Sissingué mine and infrastructure.

Jeff Quartermaine, Perseus managing director and chief executive officer, said the pouring of first gold at Sissingué was an important milestone on several levels.

“Apart from the fact that our second producing mine, and our first mine in Côte d’Ivoire, is now operational ahead of schedule and on budget, the achievement of this milestone provides Perseus with a second cash flow stream and reduces the company’s reliance for income on our first mine, Edikan in Ghana,” Quartermaine said.

“The almost faultless execution of our development plan also confirms Perseus’s capacity to successfully develop gold projects in West Africa.

“This is particularly relevant in the context of our plans to start development of our third gold mine at Yaouré, also in Côte d’Ivoire, later this year.”

Once the mine reaches commercial production, Perseus will be transformed from a single mine, single country business into a multi-mine, multi-jurisdction operation on its way to producing more that 500,000 ounces a year of gold in West Africa.