ExpansionJul 30, 2026, 01:21 PM
Fortuna Mining Approves 30% Séguéla Gold Mine Capacity Expansion
AI Summary
Fortuna Mining Corp. has approved a 30% capacity expansion of its Séguéla Gold Mine in Côte d’Ivoire. The project will increase processing capacity from 1.75 Mtpa to 2.3 Mtpa, integrate the Sunbird underground mine, and is expected to boost average annual gold production to over 200,000 ounces for the next decade. The $109 million construction capital will be funded from operating cash flow, with a projected payback period of approximately 2.5 years.
Key Highlights
- Séguéla Gold Mine processing capacity to increase by 30% from 1.75 Mtpa to 2.3 Mtpa.
- Average gold recovery expected to reach 94.5% at the expanded facility.
- Projected to support average annual gold production over 200,000 ounces for a decade.
- Estimated construction capital of $109 million, to be funded from operating cash flow.
- Projected payback period of approximately 2.5 years.
- Company liquidity was approximately $800 million as of Q1 2026.
- Underground mining at the Sunbird deposit expected to commence in Q2 2027.
- Targeted ramp-up to expanded processing throughput by H2 2028.
Price Impact
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