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 is advancing early works ahead of the feasibility study and final investment decision. 

The company has allocated $100-million to the project in 2026, of which $60-million is for early works, including camp facilities and ancillary infrastructure. 

Fortuna has said it is in the later stages of finalising detailed design and advancing feed studies to identify critical-path equipment, including a semiautogenous grinding mill and power generators, to allow for early purchase orders and reduce schedule risk. 

The updated mineral resource estimate released in January 2026 will underpin the feasibility study. Fortuna expects to fund the project from in-house resources, with no requirement for project finance or external debt.

Key Contracts, Suppliers and Consultants
None stated.

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