Name of the Project
Diamba Sud gold project.

Location
Senegal.

Project Owner/s
Canada-based Fortuna Mining.

Project Description
A preliminary economic assessment (PEA) has confirmed the strong economic case for developing an openpit gold mine that will draw ore from several deposits – including Area A, Area D, Karakara, Western Splay, Kassassoko, Moungoundi and Southern Arc – to supply a central gold processing plant over the current 8.1-year mine life.

The production plan forecasts an initial processing rate of 2.5-million tonnes a year during the first three years, underpinned by the high oxide content at Area D. From the fourth year onwards, throughput will stabilise at two-million tonnes a year as the feed shifts mainly to fresh material.

Mining will be undertaken using standard openpit methods, with drilling and blasting applied to oxide and fresh ore, followed by conventional truck-and-shovel operations to move ore and waste within the pits.

The tailings management system will consist of a tailings pipeline and a water return pipeline installed in a geomembrane-lined trench, supported by dedicated tailings pumps.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
The PEA outlines pretax net present value, using a 5% discount rate, of $772-million and an internal rate of return of 86%, with capital payback in eight months.

Capital Expenditure
Construction capital is estimated at about $283.2-million.

Planned Start/End Date
Fortuna expects to release the feasibility study in the second quarter of 2026, ahead of a formal investment decision targeted for midyear. First gold pour remains targeted for the second quarter of 2028.

Latest Developments
Fortuna Mining has received an environmental decree from Senegal’s Ministry of Environment and Ecological Transition approving the environmental- and social-impact assessment (ESIA) for the Diamba Sud gold mine.

This authorisation certifies that the project complies with all applicable environmental regulations and has been socially accepted by the project’s stakeholders.
It marks a decisive step towards obtaining the mining permit following the submission of its application to the Ministry of Energy, Petroleum, and Mines on February 4, Fortuna has noted.

“With this key approval in hand, we will continue advancing early construction works as we move towards the important milestones of completing the feasibility study, followed by a final construction decision in mid-2026,” Fortuna president and CEO Jorge Ganoza has said.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
Fortuna Mining, email info@fmcmining.com.