Fortuna Mining (TSX: FVI) says it has received authorization in Senegal for the environmental and social impact assessment for its Diamba Sud gold project in the eastern part of the country. The company submitted its mining permit application to Senegal’s ministry of energy, petroleum and mines in February of this year. In a press release, …
Fortuna wins key approval for Senegal gold project
Fortuna Mining (TSX: FVI) says it has received authorization in Senegal for the environmental and social impact assessment for its Diamba Sud gold project in the eastern part of the country.
The company submitted its mining permit application to Senegal’s ministry of energy, petroleum and mines in February of this year.
In a press release, Fortuna said the Senegalese government has issued a decree stating that the project complies with applicable regulations, marking a “decisive step” toward obtaining the permit.
Jorge Ganoza, 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) on 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. The 2026 project budget is $100 million, with a final investment and construction decision anticipated by mid-year.
In addition to Senegal, the Vancouver-based Fortuna also has exploration projects in Argentina, Côte d’Ivoire, Guinea, Guyana and Peru.
mining.com
