What's Happening?
Fortuna Mining Corp., a Canadian precious metals mining company, has submitted an application for an exploitation permit for its Diamba Sud Gold Project in Senegal. The application was filed with the Ministry
of Energy, Petroleum, and Mines on February 4, 2026. The company is advancing early works and engineering at the site, including site preparation and detailed engineering programs. These efforts aim to de-risk critical path activities and support a feasibility study. An updated Mineral Resource estimate for Diamba Sud is expected by the end of February 2026, which will form the basis for estimating Mineral Reserves. This is part of the company's strategy to evaluate a potential construction decision targeted for mid-2026. The project demonstrated robust economics in a Preliminary Economic Assessment completed in October 2025.
Why It's Important?
The submission of the exploitation permit is a significant step for Fortuna Mining Corp. as it seeks to expand its operations in Senegal. The Diamba Sud Gold Project is a key component of the company's growth strategy, potentially increasing its gold production capacity. The project's development could have substantial economic implications, including job creation and increased economic activity in the region. For the mining industry, successful development of the project could set a precedent for future mining ventures in Senegal, highlighting the country's potential as a mining destination. Additionally, the project's focus on sustainability and environmental stewardship aligns with global trends towards responsible mining practices.
What's Next?
Fortuna Mining Corp. plans to continue its early works and engineering efforts at Diamba Sud while awaiting the exploitation permit. The company aims to publish an updated Mineral Resource estimate by the end of February 2026, which will inform the feasibility study and potential construction decision. If the permit is granted, construction could begin by mid-2026, subject to the completion of all necessary studies and approvals. The company will also need to navigate potential challenges, such as environmental permitting and local community engagement, to ensure the project's successful development.
