Perseus Mining’s Nyanzaga Project Breaks Ground, Paving Way for Gold Production

Perseus Mining, a leading gold producer, has announced that its Nyanzaga project in Tanzania has moved into the construction phase. This development is a major breakthrough for the company, as it seeks to increase its gold production and expand its operations in Africa. The Nyanzaga project, which is located in the Lake Victoria Goldfields region, is expected to produce approximately 272,000 ounces of gold per annum. The construction phase is anticipated to take around 24 months to complete, with the first gold pour expected in 2025. Perseus Mining has already begun mobilizing equipment and personnel to the site, with the majority of the construction work expected to be completed within the next 12 months. The company has also commenced the recruitment process for local workers, with a focus on hiring from the surrounding communities. The Nyanzaga project is expected to create over 1,000 jobs during the construction phase, with a further 500 jobs expected to be created during the operational phase. Perseus Mining has committed to ensuring that the project is developed in a responsible and sustainable manner, with a focus on minimizing its environmental footprint. The company has already conducted extensive environmental and social impact assessments, and has developed a comprehensive plan to mitigate any potential risks. The Nyanzaga project is expected to have a significant positive impact on the local economy, with the company committing to sourcing goods and services from local suppliers. Perseus Mining has also established a community development fund, which will provide support for local community projects and initiatives. The company’s decision to move the Nyanzaga project into the construction phase is a testament to its confidence in the project’s potential. Perseus Mining’s CEO, Jeff Quartermaine, commented that the company is excited to be moving forward with the project, and is committed to delivering value to its shareholders and stakeholders. The Nyanzaga project is expected to be a major contributor to Perseus Mining’s growth plans, with the company targeting production of over 500,000 ounces of gold per annum by 2027. Perseus Mining is a multi-mine, multi-jurisdictional gold producer, with operations in West Africa and Australia. The company is listed on the Australian Securities Exchange and the Toronto Stock Exchange. Perseus Mining has a strong track record of delivering projects on time and on budget, and is committed to maintaining its high standards of safety, environmental responsibility, and social responsibility. The company’s experienced management team has a deep understanding of the gold mining industry, and is well-positioned to navigate the challenges and opportunities that lie ahead. As the gold price continues to trade at historically high levels, Perseus Mining is well-placed to capitalize on the demand for gold. The company’s focus on responsible and sustainable mining practices is expected to resonate with investors and stakeholders, who are increasingly prioritizing environmental, social, and governance (ESG) considerations. Perseus Mining’s commitment to creating value for its shareholders and stakeholders is expected to drive long-term growth and success. The Nyanzaga project is a significant milestone in the company’s history, and marks an important step towards achieving its vision of becoming a leading gold producer. With its strong project pipeline, experienced management team, and commitment to responsible mining practices, Perseus Mining is poised for continued success in the years to come.

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