After 12 years, Jeff Quartermaine will retire as MD and CEO of ASX-listed Perseus Mining, with effect from September 30.

Quartermaine will be succeeded by Craig Jones, who will begin work with Perseus on August 18 and will assume the positions of MD and CEO with effect from October 1.

Jones will be based in Perseus’ head office in Perth, Western Australia.

Quartermaine will continue to support the company through a consultancy agreement beyond September 30.

“On behalf of the board, I would like to express my most sincere gratitude to Jeff for his leadership and guidance over the years.

“Jeff has transformed Perseus and has been pivotal in turning it into one of the most profitable gold producers in the world. He has built extremely solid foundations for the company to keep growing and we cannot thank him enough for such a positive legacy,” says Perseus chairperson Rick Menell.

Quartermaine joined Perseus in 2010 as CFO, before being appointed CEO in 2013.

Since assuming this role, the company says he has transformed Perseus from a “struggling single-mine, single-country company to a multi-mine, multi-jurisdictional gold producer, developer and explorer that has consistently delivered on its promises and is now one of the leading gold companies operating on the African continent”.

Perseus notes that it now has three operating gold mines, Edikan, in Ghana, and Yaouré and Sissingué, in Côte d’Ivoire, and is building a fourth mine, Nyanzaga, in Tanzania, which is on track to commence gold production in the first quarter of 2027.

“It has been an honour and a privilege to have had the opportunity to serve at the helm of Perseus Mining over the past 12 years,” says Quartermaine.

“Not only has the company been transformed into a credible ASX 100 organisation, but during this time we have generated significant benefits for all of our stakeholders, including many in our host communities in Africa whose lives have been significantly improved through Perseus’ endeavours.

“I am deeply indebted to all our staff, both past and present, who along with their families have given their friendship, hard work, and commitment in helping transform Perseus. Along the way we have faced a myriad of challenges including events such as the global Covid-19 pandemic, but we have emerged stronger than ever, and the company is now well positioned to continue our success into the future.

“In reflecting on the last 15 years at Perseus, I must acknowledge the enormous contribution made to my career and indirectly to the success of Perseus, by my own family whose unwavering support has made the journey so much easier,” he continues.

Perseus says Jones joins the company with more than 25 years of global experience, having worked across Australia, Papua New Guinea (PNG), Indonesia and Canada.

He was a member of Newcrest’s executive team from 2012, having originally joined in 2008, and ultimately serving as Newcrest’s global COO, with broad responsibility for five operating assets spread across multiple jurisdictions.

In that capacity, he played a critical role in the development of organisational strategies, due diligence and investor relations.

Jones also led high-level engagement with governments, communities and First Nations groups across PNG, Canada and Australia.

Beyond his executive roles, Perseus notes that Jones was a Newcrest nominee director on the boards of SolGold and Lundin Gold and was Newcrest’s representative on joint venture (JV) committees including the Morobe Mining JV, in PNG, and the Red Chris JV, in British Columbia, reflecting extensive global resource sector connectivity and governance experience.

Perseus describes Jones as a values-driven leader recognised for enhancing safety and fostering a strong organisational culture.

“We are delighted to welcome Craig to the Perseus team as MD and CEO,” says Menell.

“Perseus is going through a significant phase of growth, in an environment that is getting increasingly complex, so we need a leader of Craig’s calibre to build on Jeff’s incredible legacy and confirm – and further grow – our position as one of the world’s better performing midtier gold producers.

“Craig brings a wealth of strategic, operational and technical expertise, a deep understanding of complex operating jurisdictions and stakeholder management and a clear commitment to sustainable practices. We look forward to working with Craig and the rest of the Perseus team to bring the company even further,” Menell adds.