Côte d'Ivoire: Fortuna Mining to invest $109 million to expand Séguéla gold mine

Canadian mining company Fortuna Mining will invest $109 million (around 65 billion CFA francs) to expand its Séguéla gold mine in northwestern Côte d'Ivoire, increasing processing capacity by about 30% as it seeks to boost production over the next decade.

The expansion will raise the mine's processing capacity from 1.75 million tonnes to 2.3 million tonnes of ore per year, according to the company. Once completed, the project is expected to lift average annual gold production to more than 200,000 ounces over the next ten years, reinforcing Côte d'Ivoire's position as one of West Africa's fastest-growing gold producers.

Fortuna said the investment will finance the installation of additional processing equipment, improvements to gold recovery rates and the development of the Sunbird underground mine, which is expected to become a key source of ore for the operation. The company estimates that metallurgical recovery will increase to 94.5%, improving overall production efficiency.

Construction is scheduled to begin in the second half of 2026, while the Sunbird underground mine is expected to start production in the second quarter of 2027. The expanded processing plant is due to reach full operating capacity in the second half of 2028.

Fortuna said the project will be fully financed through its existing cash resources, underscoring the company's confidence in the long-term potential of its Côte d'Ivoire operations.

The investment comes as Côte d'Ivoire continues to attract major mining capital amid growing exploration activity and rising gold production. The country has emerged as one of Africa's most dynamic mining destinations, with authorities seeking to expand the sector's contribution to economic growth, exports and government revenues.