Fortuna Mining eyes mid-tier gold assets after Burkina Faso, Mexico mine sales
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Canada’s Fortuna Mining Corp is seeking to acquire mid-tier gold mines that produce 100,000 to 200,000 ounces of gold annually and carry mine lives of at least 10 years, aiming to restore group output to around 500,000 ounces. The strategy follows the sale earlier in 2025 of its Yaramoko mine in Burkina Faso and the San José mine in Mexico, assets with shorter production horizons and higher costs. The transactions generated $400 million in net cash, the company said.
Fortuna’s West Africa Chief Operating Officer David Whittle said the company will focus on expanding within countries where it already operates. Its Séguéla mine in Côte d’Ivoire, which began production in 2023, is on track to surpass 2025 guidance of 150,000 ounces. Engineering group Lycopodium is conducting studies to expand the plant’s capacity from 1.7 – 1.75 million tonnes per year to 2 – 2.5 million.
In Senegal, the Diamba Sud project has received environmental clearance, with construction planned for 2026 and first production targeted for 2028. Fortuna’s regional expansion comes after Perseus Mining’s A$2.1 billion ($1.4 billion) takeover bid for explorer Predictive Discovery lapsed following a competing offer.
Fortuna’s post-divestment strategy underscores its shift toward longer-life, lower-cost assets in West Africa, positioning the miner to consolidate its regional portfolio and enhance production sustainability.
