Management at Fortuna has officially approved the Séguéla Gold Mine Expansion project in Côte d’Ivoire. The strategic operational initiative includes an upgrade to the existing processing facility, broad infrastructure enhancements, and the active development of the Sunbird underground mine. Together, these investments are projected to increase material throughput, improve overall recovery rates, and accelerate gold production from a growing resource base, further establishing the site as a cornerstone corporate asset.
Upgrading the Processing Facility and Infrastructure
A central component of the Séguéla Gold Mine Expansion is a planned 30% capacity expansion. This phase of the project will increase the site’s throughput from 1.75 million tonnes per annum to approximately 2.3 million tonnes per annum. By leveraging current infrastructure and expanding targeted areas of the processing facility, the project is engineered to optimize capital efficiency and minimize disruptions to active operations during construction.
Upon completion, the average recovery rate is anticipated to reach 94.5%. With the successful addition of the new underground mine, alongside vital upgrades to the regional water and power supply systems, the site is designed to support an average annual gold production of more than 200,000 ounces throughout the next decade.
Financial Framework and Accelerated Gold Production
Higher recovery rates and enhanced operational flexibility are expected to generate attractive project returns. The core financial metrics for this capacity expansion includen an estimated construction capital requirement of $109 million, which will be entirely funded from ongoing operating cash flows, and a projected payback period of approximately 2.5 years, backed by strong corporate liquidity of roughly $800 million reported at the close of the first quarter of 2026.
Company President and CEO Jorge A. Ganoza noted that the asset has consistently outperformed initial expectations since entering production in mid-2023 and continues to display strong growth potential. According to Ganoza, expanding the processing facility and integrating the underground mine represents the logical next step for unlocking additional value from the property. Alongside the feasibility-stage Diamba Sud project in Senegal, the Séguéla Gold Mine Expansion directly advances the long-term corporate objective of increasing the consolidated annual gold production rate toward 500,000 ounces by 2028.