Perseus Mining announced that the government of Côte d’Ivoire has granted an exploitation permit to Perseus Yaouré SARL,to develop and operate the Yaouré Gold Mine in Côte d’Ivoire.
Located near the Ivorian capital of Yamoussoukro adjacent to the Koussouhydro-electric power station, the Yaouré Gold Mine is expected to become a large scale, low-cost gold mining operation that willform a core asset within Perseus’s asset portfolio for many years to come.
Receipt of the EP is the final permit that Perseus requires to start developing the Yaouré mine and follows Perseus’s recent announcements that it has accepted an offer of debt financing from a syndicate of international banks and confirmed its financing plans for the mine development.
With all major prerequisites for the development of the Yaouré gold mine now in place, the Board of Perseus will convene in the very near future to resolve to commence full scale project development.
Perseus’s Chief Executive Officer and Managing Director Mr Jeff Quartermaine said: “The granting of the Exploitation Permit to enable development of the Yaouré Gold Mine is a major milestone for Perseus that firmly places us on the path to achieving our stated goal of producing more than 500,000 ounces of gold at an all-in cost of less than US$850 per ounce from multiple mines in several jurisdictions in West Africa.
When developed, Yaouré is expected to be a large scale, low cost mining operation capable of generating substantial benefits for all of Perseus’s stakeholders, including not only our shareholders who have been keenly awaiting this milestone, but also our host government and local communities, employees and providers of a range of goods and services.
On behalf of the Board and the entire team at Perseus, I thank the government of Côte d’Ivoire for granting us the exploitation licence and in doing so, recognising Perseus’s credentials as a capable, reliable and responsible participant in the Ivorian gold mining industry.”
Source: Company Press Release