Mergers & Acquisitions ·
Fortuna Mining Corp. acquired the 190 km² Bambadji advanced gold exploration project in Senegal from Barrick Mining…
FSMFortuna Mining Corp.
Fortuna Mining Corp. acquired the 190 km² Bambadji advanced gold exploration project in Senegal from Barrick Mining Corporation and IAMGOLD Corporation for US$200 million paid in cash from its treasury. The acquisition consolidates approximately 60 kilometers of prospective strike along the Senegal-Mali Shear Zone adjacent to Fortuna’s feasibility-stage Diamba Sud Gold Project, which hosts mineral reserves containing 1.15 million ounces of gold. Fortuna granted a 0.5 percent net smelter return royalty on the first 1.75 million ounces of gold produced from Bambadji Nord, split between Barrick and IAMGOLD. The company approved an initial US$8 million exploration budget for 2026 to drill 51,000 meters across eight priority targets starting in the third quarter. Fortuna Mining Corp. is a Canadian precious metals mining company operating mines and exploration projects in South America, Africa, and Guyana.