Fortuna to Invest US$200 Million in Senegal Gold Projects

Vancouver-based mining company Fortuna is advancing its interests in Senegal with a substantial investment plan focused on gold exploration. The company has indicated it will allocate US$200 million towards its gold projects in the West African nation.

What Happened

Fortuna has outlined plans to invest US$8 million in exploration activities at its Bambadji project through the end of 2026. Drilling operations are anticipated to commence in the third quarter.

The Bambadji project is situated adjacent to Fortuna's Diamba Sud Gold Project, creating a contiguous exploration area of approximately 60 kilometers. Fortuna's chief executive, Jorge Ganoza, stated that Bambadji presents a unique chance to integrate a large and promising exploration land package directly next to the Diamba Sud project, which is currently in the feasibility stage.

Background

This strategic move follows Fortuna's restructuring of its West African operations. The company sold its Yaramoko mine in Burkina Faso for approximately US$130 million in the previous year, shifting its focus towards Senegal and Ivory Coast.

Key Facts

• Fortuna, a Vancouver-based miner, is investing in gold projects in Senegal.
• The total investment is expected to reach US$200 million.
• US$8 million is earmarked for exploration at the Bambadji project through the end of 2026.
• Drilling at Bambadji is scheduled to begin in the third quarter.
• Bambadji is located next to Fortuna's Diamba Sud Gold Project.
• Fortuna sold its Yaramoko mine in Burkina Faso for approximately US$130 million last year.
• The company is reorganizing its West African portfolio to concentrate on Senegal and Ivory Coast.
• Jorge Ganoza is the chief executive of Fortuna.