ExpansionJul 29, 2026, 08:58 PM
Fortuna Mining Expands Séguéla Gold Mine, Targets 200K Oz/Yr
AI Summary
Fortuna Mining Corp. has approved a significant expansion of its Séguéla Gold Mine in Côte d’Ivoire. The project will increase processing capacity by 30% to 2.3 Mtpa and is expected to boost average annual gold production to over 200,000 ounces for the next decade, with a projected payback period of 2.5 years. The $109 million construction capital will be funded from operating cash flow, supporting the company's goal of reaching 500,000 ounces of consolidated annual gold production by 2028.
Key Highlights
- Approved expansion of Séguéla Gold Mine in Côte d’Ivoire.
- Processing capacity to increase 30% from 1.75 Mtpa to 2.3 Mtpa.
- Average gold recovery expected to reach 94.5%.
- Targeting average annual gold production over 200,000 ounces for next decade.
- Projected payback period of approximately 2.5 years.
- Estimated construction capital of $109 million, funded by operating cash flow.
- Company aims for 500,000 ounces consolidated annual gold production by 2028.
- Underground mining at Sunbird deposit expected to commence Q2 2027.
Price Impact
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