Fortuna Mining Corp. has acquired the 190-square-kilometre Bambadji advanced gold exploration project in Senegal from subsidiaries held by Barrick Mining Corporation and IAMGOLD Corporation. The transaction, announced on August 10, 2026, involves the purchase of certain Senegalese subsidiaries owned by the two mining companies. Fortuna said the acquisition brings Bambadji into its portfolio and strengthens …
Fortuna Mining acquires Bambadji gold project in Senegal for US$200m
Fortuna Mining Corp. has acquired the 190-square-kilometre Bambadji advanced gold exploration project in Senegal from subsidiaries held by Barrick Mining Corporation and IAMGOLD Corporation.
The transaction, announced on August 10, 2026, involves the purchase of certain Senegalese subsidiaries owned by the two mining companies. Fortuna said the acquisition brings Bambadji into its portfolio and strengthens its position in Senegal’s highly prospective gold district.
Bambadji is located adjacent to Fortuna’s feasibility-stage Diamba Sud Gold Project. The acquisition consolidates approximately 60 kilometres of prospective strike along the Senegal-Mali Shear Zone, a major gold corridor that hosts several large-scale gold mines.
Fortuna President and Chief Executive Officer Jorge A. Ganoza described the acquisition as an opportunity to consolidate a large-scale exploration land package immediately next to Diamba Sud.
According to the company, the US$200 million consideration reflects the presence of several drill-defined targets, the size of the Bambadji land package, an extensive historical exploration database and the potential to expand the Diamba Sud project.
“Bambadji represents a rare opportunity to consolidate a large-scale, highly prospective exploration land package immediately adjacent to our feasibility-stage Diamba Sud Gold Project,” Ganoza said.
He added that the acquisition could materially expand Fortuna’s operations in what he described as one of West Africa’s most prospective gold districts, where assembling quality exploration ground is challenging.
Fortuna said historical drilling undertaken by Barrick and IAMGOLD has identified multiple exploration targets at Bambadji. The company indicated that further details on the drill results form part of the geological information supporting the acquisition.
The transaction effectively increases Fortuna’s exploration footprint around Diamba Sud and provides additional ground along the Senegal-Mali Shear Zone for future exploration and resource growth.
Fortuna Mining Corp., listed on the New York Stock Exchange under FSM and on the Toronto Stock Exchange under FVI, is focused on precious metals mining and exploration.
