Fortuna Mining buys Bambadji gold exploration project in Senegal for US$200 million
FSM•Fortuna acquires Bambadji project in Senegal
- Fortuna Mining acquired the 190 km² Bambadji advanced gold exploration project in Senegal from Barrick Mining and IAMGOLD.
- Transaction value: US$200 million cash paid on Aug. 10, 2026, split US$130.35 million to Barrick and US$69.65 million to IAMGOLD.
- The deal adds about 60 km of prospective strike along the Senegal-Mali Shear Zone next to the feasibility-stage Diamba Sud project.
- The sellers receive a 0.5% net smelter return royalty on the first 1.75 million ounces from Bambadji Nord.
- Initial Bambadji work plan: US$8 million exploration budget for 2026, including 51,000 meters of drilling starting in Q3.
