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Australian miner launches $107M African gold project
Project in Africa Australia’s Perseus Mining said it is launching its Sissinguégold mine in Africa’s Ivory Coast ahead of schedule this month, with plans to ramp up to full scale commercial production by the end of March 2018.
Under its $107 million investment, Perseus Mining aims to produce 80,000 oz per year in the first 3.25 years of the African project.
“We are looking forward … to starting gold production later in January 2018 and to seeing Sissinguéramp up to full scale production and positive cash flow by the end of the March quarter,”Jeff Quartermaine, the company’s CEO, said in a statement. “At that point, Perseus will be transformed from a single mine, single country business to a multi-mine, multi-jurisdiction operation and we will be well on the way to achieving our goal of producing [over] 500,000 ounces of gold per year from late 2021.”