Perseus Mining
The site in Cote d'Ivoire where Perseus Mining's Yaoure will be built

ASX-listed Perseus Mining has achieved another important milestone in the schedule for developing its third gold mine, Yaouré, in Côte d’Ivoire, with the awarding of a mining services contract to EPSA Internacional SA (EPSA).

Côte d’Ivoire – Perseus explained that EPSA is a privately owned, global earthmoving and mining contractor that is headquartered in Spain and provides a range of mining, civil works and earthmoving services to a blue-chip list of mining clients located in 15 countries where they employ approximately 4 000 employees and deploy nearly 1 600 pieces of equipment.

The mining services contract will run for a period of 65 months commencing on 1 November 2020 and is expected to move approximately 170 million tonnes of material, including 27 million tonnes of ore containing more than 1.5 Moz of gold.

Read: Perseus gets significant cash boost to develop Yaouré

Providing local employment opportunities

EPSA is expected to commence mobilising equipment to site in Q1 2020, after which it will employ and train a predominantly Ivorian workforce in preparation for the formal commencement of the contract later in the year.

Perseus’s MD and CEO, Mr Jeff Quartermaine said: “The awarding of the Yaouré mining contract to EPSA is yet another important milestone on the path to bringing the mine into production.

“When Yaouré is fully operational, Perseus will be producing in excess of 500 000 Oz of gold per year. The average all-in site cost of producing gold at Yaouré over the first 5 years of the mine is forecast to be US$734 per ounce meaning that if gold prices are maintained at current levels, then very strong cashflows will be generated and available for funding benefits for our stakeholders,” he concluded.