Perseus Mining (Ghana) Limited Company (PMGL or Perseus) is pleased to announce that it has agreed to relinquish a 70-hectare portion of its Ayanfuri Mining Lease to the Government of Ghana for re-allocation under its Small-Scale Cooperative Mining Scheme initiative.

The Ayanfuri Mining Lease is located near the town of Ayanfuri in the Upper Denkyira District of the Central Region of Ghana, and hosts Perseus’s Edikan Gold Mine that has operated successfully on the lease since 2011.

The government’s new Small-Scale Cooperative Mining Scheme initiative aims to empower local communities, with the involvement of local chiefs, youth and other stakeholders, to organise cooperatives and apply for licences to operate community-based mines.

Perseus Mining Limited’s Managing Director and CEO, Jeff Quartermaine, said this agreement was another example of the strong partnership between PMGL and the Government of Ghana.

“Following on from PMGL’s December 2024 dividend payment of US$5 million (GHS73,500,000) to the Government of Ghana, this agreement reflects our shared commitment to achieving long-term, sustainable success in the country. As part of this agreement, which has been struck with the Environmental Protection Agency, we have also contributed US$1.428 million to support future rehabilitation of the relinquished area–underscoring our dedication to responsible mining and environmental stewardship.”

“Perseus remains committed to supporting the Government of Ghana’s national development priorities, particularly the promotion of responsible mining practices and the fight against illegal mining, which continues to threaten the country’s land and water resources.”

Since commencing gold mining at Edikan in 2011, Perseus has funded the Edikan Trust Fund, which has financed and implemented a range of infrastructure and livelihood development initiatives in the mine’s catchment area.

In 2024, annual funding was increased to US$500,000 in recognition of three additional villages located near the recently developed Nkosuo project.

Perseus also supports Ghana and its host communities more broadly through its highly successful local employment and procurement initiatives, discretionary community contributions and taxes, royalties and dividends to local governments. In FY24 alone, these contributions totalled more than US$286 million.