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Australian miner secures $150M for African gold project

Photo: Perseus Mining
Photo: Perseus Mining
Published by
Jaroslaw Adamowski - 10 Apr 2019

Australian miner Perseus Mining has secured a committed letter of offer from three banks to provide a corporate debt facility worth some US$150 million. Among others, the company aims to use the funds to finance its investments, including the devel-opment of the company’s third gold mine, the Yaouré Gold Mine in Côte d’Ivoire.

 

The consortium consists of Macquarie Bank Limited from Australia, Nedbank Limited from South Africa, and France’s Société Générale.

 

"Perseus plans to proceed with the development of Yaouré in accord-ance with its strategic plan of producing more than 500,000 ounces of gold per year at an all-in site cost of less than US$850 per ounce from 2022," the miner said in a filing to the Australian Securities Ex-change (ASX). "The total capital cost of developing the Yaouré Gold Mine is estimated to be US$265 million".