Fortuna wins key approval for Senegal gold project

Fortuna Mining has received a decree from the Senegalese government approving the environmental and social impact assessment for its Diamba Sud gold project in the eastern part of the country. The authorization states that the project complies with applicable regulations.

The company submitted its mining permit application to Senegal’s ministry of energy, petroleum and mines on Feb. 4, 2026. Fortuna said this authorization marks a “decisive step” toward obtaining the permit. 

Jorge A. Ganoza, the president and CEO of Fortuna, said the speed at which the decree was issued should be a “testament” to the quality of the company’s work. “This milestone also reflects the government of Senegal’s commitment to enabling the responsible development of its mining sector,” Ganoza added.

A 2025 preliminary economic assessment (PEA) of the Diamba Sud project demonstrated an after-tax internal rate of return (IRR) of 72% and a net present value (NPV) of 5% of $563 million using $2,750 per ounce. The 2026 project budget is $100 million, with a final investment and construction decision anticipated by mid-2026. 

Fortuna is a Vancouver-based precious metal mining company with exploration projects in Argentina, Côte d’Ivoire, Guinea, Guyana and Peru, in addition to its Diamba Sud project in Senegal.