The first gold production is expected in Q1 2027.
The Nyanzaga gold project is located in north-western Tanzania, approximately 60 kilometers from Mwanza, the country's second-largest city. It lies on the north-eastern flank of the Sukumaland Archaean Greenstone Belt. Lycopodium’s work on the project is scheduled to begin immediately, with initial gold production expected in the first quarter of 2027.
The scope of Lycopodium’s EPCM services includes engineering and design, procurement of equipment and materials, construction management, and commissioning of a carbon-in-leach processing facility. This facility is designed to handle up to five million tonnes of ore annually. Additionally, the contract covers supporting infrastructure such as 11kV power distribution, a water supply system sourced from Lake Victoria, tailings and decant pipelines, as well as workshop and warehouse facilities.
This marks the third collaboration between Lycopodium and Perseus Mining. The two companies previously worked together on the development of the Sissingué and Yaouré gold mines. Lycopodium has also been involved in earlier phases of the Nyanzaga project, including the pre-feasibility study, definitive feasibility study, and the recent completion of front-end engineering and design.
Initial mining at Nyanzaga will use open-pit methods. There are also plans to evaluate the potential for underground mining in later phases of the project.
Peter De Leo, Lycopodium’s managing director and CEO, stated: “Our extensive knowledge of this project and long-standing relationship with Perseus, having worked alongside them in the development and engineering support of their current operating gold mines in Africa, including Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire, ensures we are well placed to provide confidence of outcome for the successful development of Nyanzaga.”
