Canada’s Fortuna Mining Corp. agreed to buy the Bambadji gold project in Senegal for US$200 million from Barrick Mining Corporation and IAMGOLD Corp. , boosting its footprint in the West African nation.
Bambadji is adjacent to the company’s Diamba Sud project, giving Fortuna about 60 kilometres of potentially gold-bearing ground.
“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,” Fortuna chief executive Jorge Ganoza said in a statement.
Fortuna plans to spend US$8 million on exploration at Bambadji through the end of 2026 and expects to start drilling in the third quarter, according to the statement.
Vancouver-based Fortuna has been reshaping its West African portfolio toward Senegal and Ivory Coast after selling its Yaramoko mine in Burkina Faso for about US$130 million last year.