Project UpdateNov 2, 2026, 05:32 PM
Fortuna Mining Advances Diamba Sud Gold Project Permitting in Senegal
AI Summary
Fortuna Mining Corp. has advanced its Diamba Sud gold project in Senegal by receiving the Notice of Admissibility for its Exploitation Permit application. This significant milestone brings the company closer to obtaining the final permit, expected in Q4 2026, which will allow for a Final Investment Decision and the commencement of full-scale construction. Early works are progressing well, and the company maintains its target of first gold pour in mid-2028, contributing to an overall production growth target of 60% to 500,000 ounces annually by mid-2028.
Key Highlights
- Fortuna Mining Corp. received Notice of Admissibility for Diamba Sud Exploitation Permit application in Senegal, a key step towards final permit.
- The company expects the final Exploitation Permit to be granted in Q4 2026, enabling a Final Investment Decision (FID).
- Early works are advancing, including assembly of the construction team, selection of EPC contractor, and placement of orders for critical long-lead equipment.
- Projected first gold pour is targeted for Q2/Q3 2028, with ramp-up to nameplate capacity following.
- Fortuna is negotiating a new Mining Convention with the State of Senegal for the Diamba Sud project.
- The company targets approximately 60% growth in annual gold production to 500,000 ounces from mid-2028, supported by Diamba Sud and Séguéla mine expansion.
Price Impact
More from FSM