By: Ecofin agency

The government of Ivory Coast extended the exploitation permit of the Yaouré gold mine, operated by Australia’s Perseus Mining, by six years. The Council of Ministers announced the decision on September 17, bringing the mine’s license duration to 17 years, up from the initial 11 granted in April 2019. The extension validates operations until 2036.

“The decree modifies the mining processes and production profile initially planned to take into account the discovery of additional mineral resources estimated at 15.5 tonnes of gold in the continuity of the mineralization at depth,” Communication Minister Amadou Coulibaly said in a briefing. “As a result, the 11-year production profile is extended by six years, bringing the validity of the mining permit to 17 years.”

The extension aligns with Perseus Mining’s strategy to operate Yaouré until at least 2035 by developing an underground extension. The project, scheduled to begin in the first half of 2026, requires an investment of A$170 million ($113 million). Perseus expects the underground mine to contribute about 50% of Yaouré’s annual output. In 2024, Yaouré produced 239,637 ounces, making it one of the largest industrial gold mines in the country.

Perseus must still secure approval from Ivorian authorities for the environmental and social impact study of the underground operations, a prerequisite to starting construction. Successful implementation would support both Perseus’s production outlook and Ivory Coast’s national goal to reach 100 tonnes of gold output annually by 2030.