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    Fortuna’s doubled Séguéla ounces: mine life, plant expansion and capex notes

    November 21, 2025|

    Reviewed by Joe Ashwell

    Fortuna’s doubled Séguéla ounces: mine life, plant expansion and capex notes

    First reported on MINING.com

    30 Second Briefing

    Fortuna Mining has lifted Séguéla’s proven and probable reserves to 13 million tonnes at 2.81 g/t for 1.2 million oz. and doubled indicated resources to 6 million tonnes at 4.12 g/t, extending life of mine to 7.5 years and triggering expansion studies in Côte d’Ivoire. Technical work is assessing a 25% plant capacity increase from the 1.25 Mt/y 2023 design to 2–2.5 Mt/y, with low-capex debottlenecking targeting 1.75 Mt/y throughput in 2026. Kingfisher now contributes 3.5 Mt at 2.28 g/t in reserves and the Sunbird underground project holds 3.6 Mt at 4.34 g/t indicated, pending an underground mining study next month.

    Technical Brief

    • Latest estimate adds 11% contained reserve ounces versus the December 2024 statement.
    • Inferred resources increase 15% year-on-year to 8.8 Mt at 2.52 g/t for 712 koz.
    • Kingfisher enters reserves for the first time with 3.5 Mt at 2.28 g/t for 257 koz.

    Our Take

    With Séguéla’s proven and probable reserves now at 13Mt grading 2.81 g/t versus 9.8Mt at 3.37 g/t a year earlier, Fortuna Mining is effectively trading some grade for mine life, which typically favours mill expansion and higher throughput strategies over selective high‑grade mining in Côte d’Ivoire.

    The planned 25% plant capacity increase at the Séguéla mine, targeting 2–2.5Mt/y by 2026 from 1.25Mt/y at commissioning, positions Fortuna Mining among the more aggressive brownfield expanders in our recent gold coverage, signalling confidence in both resource conversion at Sunbird/Kingfisher and regional operating stability.

    Allied Critical’s 13Mt measured and indicated tungsten trioxide resource in Portugal, at 0.21% WO₃, gives Fortuna group exposure to a critical mineral alongside gold, which may become strategically useful if EU supply-chain policies continue to favour domestic tungsten projects.

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    Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.

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