Senegal: Fortuna invests 200 million dollars in the gold potential of Diamba Sud

The operation involves an exploration permit covering approximately 190 km² in eastern Senegal. The project was owned by Barrick and IAMGOLD, who agreed to transfer it to Fortuna Mining. The timeline and detailed terms for finalizing the transaction have not been specified in the available information.

Bambadji is located near Diamba Sud, the gold project that Fortuna is also developing in the country. This proximity could allow the group to explore synergies between the two assets, particularly in terms of infrastructure, exploration, and mining development. However, the company has not provided a detailed operational integration plan.

A potential of over one million ounces of gold

According to the estimates presented by Fortuna Mining, the development of Diamba Sud would require an investment of approximately 397.5 million dollars. The project could produce nearly 1.05 million ounces of gold over an estimated lifespan of 9.4 years.

These figures correspond to development projections and not to already established production. Their realization will depend on the results of exploration work, technical studies, regulatory approvals, and the final investment decision.

With the acquisition of Bambadji and the development of Diamba Sud, Fortuna Mining aims to increase the number of mines in its portfolio to four by 2028. The group already operates several gold and silver assets in Latin America and Africa, but the scaling up of its Senegalese projects still needs to pass through various technical and administrative stages.

The acquisition comes as Senegal seeks to enhance the contribution of its mining sector to the national economy. The country has significant gold potential in the Kédougou region, where several international companies are conducting exploration and mining activities.