The Côte d’Ivoire project targets a 30% processing-capacity increase to 2.3 Mtpa, underground mining at Sunbird from Q2 2027, and average annual production above 200,000 ounces over the next decade.
Fortuna Mining Corp. said it has approved an expansion of its Séguéla Gold Mine in Côte d’Ivoire, committing estimated construction capital of $109 million to lift processing capacity, improve recoveries and bring the Sunbird underground mine into the operation. The company expects the project to raise plant throughput by 30% to 2.3 Mtpa (million tonnes per annum) from 1.75 Mtpa and lift average gold recovery to about 94.5%. The expansion is expected to support average annual gold production at Séguéla of more than 200,000 ounces over the next decade. Fortuna said stronger recoveries and faster production from the mine’s resource base should enhance cash flow and generate a projected payback period of about 2.5 years. The company plans to fund the build from operating cash flow, backed by liquidity of about $800 million at the end of Q1 2026. President and CEO Jorge A. Ganoza said Séguéla has outperformed since entering production in mid-2023 and described the expansion as the next step in increasing capacity, adding underground production and improving operating flexibility. He said the project, together with the feasibility-stage Diamba Sud project in Senegal, supports Fortuna’s goal of increasing consolidated annual gold rate of production toward 500,000 ounces by 2028. Construction is expected to begin in H2 2026, underground mining at Sunbird is scheduled to start in Q2 2027, and ramp-up to the expanded plant rate is targeted for H2 2028. Raul Espinoza, Director of Technical Services for Fortuna Mining Corp., reviewed and approved the scientific and technical information in the release as a Qualified Person under National Instrument 43-101 (Canadian mining disclosure standard).