The project includes an expansion of the Séguéla processing facility, upgrades to supporting infrastructure, and development of the Sunbird underground mine.
Together, these investments are expected to increase throughput, improve gold recoveries, accelerate production from Séguéla’s growing resource base, and reinforce the mine’s position as a cornerstone asset in Fortuna’s portfolio.
Expansion Highlights
30% increase in processing capacity, from 1.75 million tpy to 2.3 million tpy, with average gold recovery expected to reach 94.5%.
- Expected to support average annual gold production at Séguéla of more than 200 000 ounces over the next decade.
- Higher recoveries and accelerated gold production are expected to enhance cash flow generation and deliver attractive project returns, with a projected payback period of approximately 2.5 years.
- Estimated construction capital of US$109 million, to be funded from operating cash flow and supported by the company’s strong liquidity of approximately US$800 million as of the end of 1Q26.
Jorge A. Ganoza, President and CEO, commented, “Séguéla has consistently exceeded expectations since entering production in mid-2023 and continues to demonstrate strong growth potential. This expansion represents the logical next step in unlocking additional value from the asset by increasing processing capacity, integrating underground production, and enhancing operating flexibility. The project supports our strategy of disciplined reinvestment in high-quality assets and, along with the feasibility stage Diamba Sud project in Senegal, advances Fortuna’s objective of increasing consolidated annual gold rate of production toward 500 000 ounces by 2028.”