Fortuna Mining buys Barrick, IAMGOLD Senegal project for $200M
The deal links Bambadji with Diamba Sud, giving Fortuna control of about 60 km of prospective ground in Senegal.
Fortuna Mining has acquired the Bambadji gold project in Senegal for $200 million from Barrick Mining and IAMGOLD, strengthening its presence in the country. The Bambadji project lies adjacent to Fortuna's Diamba Sud project, granting the Canadian miner control over approximately 60 km of potentially gold-bearing land. Fortuna CEO Jorge Ganoza expressed enthusiasm about consolidating a large-scale land package near their feasibility-stage Diamba Sud Gold Project.
Fortuna intends to allocate $8 million towards exploration efforts in Bambadji, with drilling scheduled to commence in the third quarter of 2026. This acquisition further consolidates Fortuna's West African portfolio in Senegal and Ivory Coast, following the sale of its Yaramoko mine in Burkina Faso for about $130 million last year.
The combination of Bambadji and Diamba Sud creates a substantial exploration position for Fortuna in Senegal, enabling them to target promising areas alongside a project already in the feasibility stage. The upcoming drilling tests will determine how Bambadji can complement Diamba Sud, allowing Fortuna to evaluate targets across their enlarged land package.
This acquisition also signals Fortuna's strategic shift toward Senegal and Ivory Coast, concentrating their West African exposure around assets with exploration and development potential.
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