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 aimed at reducing risks and supporting a feasibility study. An updated Mineral Resource estimate is expected by the end of February 2026, which will inform the estimation of Mineral Reserves for the feasibility study. 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 as it seeks to expand its operations in Senegal. The Diamba Sud Gold Project is a key part of the company's strategy to increase its gold production and strengthen its portfolio of exploration projects. The project's development could have substantial economic implications, potentially creating jobs and contributing to the local economy in Senegal. For Fortuna, successful development of the project could enhance its production capabilities and financial performance, positioning the company as a more competitive player in the global mining industry.
What's Next?
Fortuna Mining plans to continue its early works and engineering efforts at Diamba Sud while awaiting the permit approval. The company aims to make a construction decision by mid-2026, contingent on receiving all necessary permits, including an Environmental and Social Impact Assessment (ESIA) permit. The updated Mineral Resource estimate, expected by the end of February 2026, will be crucial for the feasibility study and subsequent decision-making processes. Stakeholders, including investors and local communities, will be closely monitoring the progress and outcomes of these developments.
