Fortuna Buys Barrick, Iamgold Project for $200M
Fortuna said the project adds 214,000 meters of historical drilling and 8 priority targets as it plans a US$8 million exploration program.
- On Monday, August 10, 2026, Fortuna Mining Corp. acquired the Bambadji Project in Senegal from subsidiaries of Barrick Mining Corporation and IAMGOLD Corporation for US$200 million in cash.
- Bambadji consolidates approximately 60 kilometers of prospective strike along the Senegal-Mali Shear Zone, a Tier-1 gold corridor, and sits adjacent to Fortuna's Diamba Sud Gold Project containing 1.15 million ounces of gold.
- Payment terms involved US$130.35 million to a Barrick subsidiary and US$69.65 million to an IAMGOLD subsidiary. Sellers retain a 0.5 percent net smelter return royalty on the first 1.75 million ounces of gold from Bambadji Nord.
- The 2026 exploration program comprises 51,000 meters of reverse circulation and diamond drilling backed by an initial US$8 million budget, targeting advanced prospects within a 20-kilometer radius of the proposed Diamba Sud plant site.
- CEO Jorge A. Ganoza called the acquisition a "rare opportunity" to expand in one of West Africa's most prospective gold districts. The company anticipates a final investment decision for Diamba Sud shortly.
18 Articles
18 Articles
Fortuna buys Barrick, Iamgold project for $200M
Fortuna Mining (NYSE: FSM; TSX: FVI) is buying the Bambadji gold project in Senegal for $200 million (C$279 million) from Barrick Mining (NYSE: B; TSX: ABX) and Iamgold (TSX: IMG;... The post Fortuna buys Barrick, Iamgold project for $200M appeared first on The Northern Miner.
Fortuna acquires Bambadji gold exploration project in Senegal
Fortuna Mining Corp. is excited to announce the acquisition of the 190 km² Bambadji advanced gold exploration project, located adjacent to its feasibility-stage Diamba Sud Gold Project in Senegal. The purchase of subsidiaries from Barrick Mining Corporation and IAMGOLD Corporation strengthens Fortuna’s presence along the highly prospective Senegal-Mali Shear Zone, a world-class gold corridor. Jorge …
The Toronto Star
Fortuna acquires highly prospective Bambadji Project in Senegal from Barrick and IAMGOLD
VANCOUVER, British Columbia, Aug. 10, 2026 (GLOBE NEWSWIRE) -- Fortuna Mining Corp. (NYSE: FSM | TSX: FVI) is pleased to announce the acquisition of the 190 km² Bambadji advanced gold exploration project in Senegal, through the purchase of certain Senegalese…
Fortuna Invests 200 Million Dollars In The Gold Potential Of Diamba Sud – The Standard Newspaper
The Canadian group Fortuna Mining has announced the acquisition of the Bambadji gold exploration project in Senegal for 200 million dollars. Located near Diamba Sud, another project owned by the company, the asset is set to strengthen the group’s presence in the Mako gold belt. The operation involves an exploration permit covering approximately 190 km² in eastern Senegal. The project was owned by Barrick and IAMGOLD, who agreed to transfer it to…
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