07:22 AM EST, 01/28/2025 (MT Newswires) -- Perseus Mining ( PMNXF ) late on Monday said it has taken a final investment decision to develop the CMA underground project at the Yaoure gold mine in Cote d'Ivoire.

The FID took into consideration the Ministry of Mines, Petroleum and Energy's in-principle approval for the project announced in November 2024.

Work on the project is expected to commence in mid-2025 with the development of the first portal.

The start of work remains contingent on the approval of the project's Environmental and Social Impact Assessment by the Ministry of Environment, Sustainable Development and Ecological Transition, as well as the formal granting of a Ministerial Decree.

Perseus has appointed Byrnecut as the primary mining contractor for the project. Byrnecut is expected to mobilize on site at Yaoure by April.

The approved capital for project development is $124.6 million.