Tanzania’s Nyanzaga gold project set for production start in early 2027

Perseus Mining says construction of the US$523 million Nyanzaga Gold Project in Tanzania is progressing steadily, with first gold production expected in the first quarter of 2027.

The company announced the update following a high-level meeting with Tanzanian President Dr Samia Suluhu Hassan at the State House in Chamwino, Dodoma Region, where discussions centred on the development of the Nyanzaga project and its contribution to the country’s mining sector.

The Perseus delegation was led by Independent Non-Executive Chairman Rick Menell, Managing Director and CEO Craig Jones, and Chief Financial Officer Lee-Anne de Bruin. They were joined by Sotta Mining Board Member Professor Raphael Chibunda and Country Manager Isaac Lupokela.

According to Perseus, the Nyanzaga Gold Project represents Tanzania’s first major new gold mine development in nearly two decades and is expected to serve as a long-term investment in the country’s economy.

President Samia Suluhu Hassan welcomed the scale of the investment and acknowledged its importance in strengthening Tanzania’s mining industry and supporting economic growth.

Perseus said ongoing construction works remain on schedule ahead of the anticipated production start in early 2027.