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.

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Image: A gold mineral. Photo: courtesy of carlos aguilar/Freeimages.com.

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