Fortuna Mining (TSX: FVI, NYSE: FSM) says it has reached a milestone on the exploration permit process for its Diamba Sud project in Senegal.
On Monday, the company received a Notice of Admissibility for its application. The notice confirms Senegal’s Ministry of Mines and Geology has completed a review of the documentation and the file complies with all regulatory requirements.
Fortuna says it now expects the approval to be finalized during Q4 of 2026. This keeps the project on schedule with its target of first gold production in mid-2028.
“Following our July final investment decision on the 30% plant expansion at our flagship Séguéla mine, and with Diamba Sud advancing through the final stages of permitting, we are progressing along a clear growth path,” said Jorge A. Ganoza, Fortuna’s director and CEO.
Located in Kédougou Region of southeastern Senegal, Diamba Sud is a 53.46 sq. kilometre gold project. A June 2026 feasibility study estimated an after-tax net present value (NPV) of $1 billion (C$1.4 billion) at a 5% discount rate.
Convention planning
Fortuna says it is also at an advanced stage of negotiations with the State of Senegal on a new mining convention for the Diamba Sud project. It is currently working to establish proof that it can financially sustain the convention over a ten year period.
For more information, visit: https://fortunamining.com/news/fortuna-advances-diamba-sud-gold-project-permitting-in-senegal/
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