Fortuna to construct open-pit mine at Séguéla gold project

Fortuna to construct open-pit mine at Séguéla gold project

Published by Ailbhe Goodbody in MiningMagazine

The board of directors of Canadian precious metals mining company Fortuna Silver Mines has decided to proceed with the construction of an open-pit mine at the Séguéla gold project in Côte d'Ivoire.

Fortuna completed the acquisition of Canadian miner Roxgold, the company that had been advancing the Séguéla project, in July this year. At the time of the acquisition, Fortuna stated that it would "create a global premier growth-oriented intermediate gold and silver producer".

The updated total initial capital investment for the Séguéla project is US$173.5 million, of which US$11.5 million has previously been approved by the board for early works items.

According to the feasibility study that was published in May, the life of mine (LOM) is 8.6 years with a total LOM production of 1,028,000oz of gold. The production will be 120,000oz/y of gold, with 133,000oz/y gold in the first six years of operation.