Australia’s Perseus sells 70% stake in Sudan gold project to Chinese miner for $260mn

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Perseus Mining Limited (ASX/TSX:PRU) has agreed to sell its majority stake in the Meyas Sand Project (MSGP) in Sudan for $260mn , a move the company said will strengthen its balance sheet and allow it to redirect capital toward core gold assets. The Australia -listed miner said on March 16 it had signed a share purchase agreement to sell its 70% interest in the project to Hong Kong Matrix Golden Fortune Mining Limited , a subsidiary of Matrix Resources (Zhejiang) Co., Ltd. Under the terms of the transaction, the purchase price includes a $10mn deposit already received on signing and a remaining $250mn payable upon completion, which is scheduled for April 22, 2026 . The deal involves the sale of Shark (BVI) Inc , which indirectly holds Perseus’s stake in the Meyas Sand Project through its subsidiary Perseus Sudan Holdings Pty Ltd. Perseus said the project had been sold on an “as is, where is” basis and that the transaction carries no conditions precedent to completion. The Meyas Sand Project was originally acquired when Perseus purchased Orca Gold Inc. (TSXV:ORG) in May 2022 , gaining full ownership of the Sudan -focused explorer and its development assets. Chief executive Craig Jones said the decision to divest followed a strategic review of the asset, which had been complicated by Sudan’s ongoing armed conflict. “Perseus maintains the view that the MSGP is a high quality gold project,” Jones said. “A strategic review of MSGP was undertaken as a result of the protracted armed conflict in Sudan and its impact on Perseus’s ability to progress the development at suitable scale.” He added that the sale “represents an important step for Perseus in its portfolio optimisation and allows allocation of resources to core assets and its growth strategy.” Jones said Matrix Group had the capacity to advance the project, describing the buyer as “a proven development partner with a vision for the MSGP that aligns with the development goals of Sudan.” Perseus said the proceeds would reinforce its balance sheet and could support additional capital returns to shareholders while freeing resources for development opportunities within its existing portfolio. The company currently operates gold mines in Côte d’Ivoire and Ghana and is advancing the Nyanzaga gold project in Tanzania as part of its broader African growth strategy. © 2026 bne IntelliNews, source Magazine

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