Perseus Mining Reports 15% Drop in Quarterly Gold Production

Perseus Mining produced 92,551 ounces of gold in the September quarter, down 15.1% from the 109,013 ounces recorded in the previous quarter, as output declined at all three of its operating mines in West Africa.

The Australian gold producer reported the figures on October 27, covering the first quarter of its 2027 financial year, which ran from July to September 2026. Despite the lower production, Perseus maintained its annual guidance of 420,000 to 480,000 ounces, above the 404,998 ounces produced in the 2026 financial year.

The company operates Yaouré and Sissingué in Côte d’Ivoire and Edikan in Ghana. All three mines recorded lower quarterly output, although Perseus said their performance remained in line with its production forecasts.

At Sissingué, production fell to 20,073 ounces from 28,161 ounces in the previous quarter. The company said the mine nevertheless performed better than expected.

Nyanzaga to Add Tanzanian Production

Perseus is preparing to expand its production base beyond West Africa with the Nyanzaga gold project in Tanzania. The $523 million development is scheduled to begin production in January 2027.

The mine is designed to produce more than 200,000 ounces of gold annually over an estimated 14-year operating life. Perseus expects Nyanzaga to contribute approximately 55,000 ounces during its initial months of operation in the 2027 financial year.

That contribution will form part of the company's plan to lift annual production above its previous financial year's output while maintaining its target for the current year.

Production Target Remains Unchanged

Nyanzaga is also central to Perseus' longer-term production ambitions. The company aims to exceed average annual gold production of 500,000 ounces between 2026 and 2030.

The January 2027 startup schedule places Nyanzaga's first production within the current financial year, with an initial contribution of about 55,000 ounces included in Perseus' expectations.