Perseus Mining targets 2027 gold production at Nyanzaga project

Perseus Mining is advancing its Nyanzaga Gold Project in north-western Tanzania, with first gold production targeted for January 2027. The project, located in the Sukumaland Greenstone Belt, is expected to produce over 200,000 ounces of gold annually for its first 14 years of operation.

Construction at the site has reached 88.4% completion and has employed more than 4,000 people, primarily Tanzanian nationals. To mitigate the risks of power outages at the remote greenfield site, a 28 MW emergency backup power system has been installed. This system, provided by USP&E in partnership with ECG, consists of 28 containerised generator sets and significant fuel storage capacity to ensure continuous operation of critical safety and processing systems.

While Perseus Mining reported a quarterly production decline between July and September 2026—producing 92,551 ounces compared to 109,013 in the previous quarter—the company noted that results exceeded internal plans. The company maintains its full-year production guidance of 420,000 to 480,000 ounces for the fiscal year ending June 2027, which includes initial volumes from Nyanzaga.