Fortuna Mining

Name

Fortuna Mining

Legal name

Fortuna Mining Corp.

Website

https://fortunamining.com

Company type

Public

Founded year

2005

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Precious Metals Mining

NAICS

Gold Ore and Silver Ore Mining (21222), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Gold And Silver Ores (1040)

akta.pro primary industry

Gold Mining (IMAKAEAA)

akta.pro secondary industries

Silver Mining (IMAKAEAB), Precious Metals Ore Processing & Beneficiation (IMAKAEAD)

Keywords

• Precious metals mining
• Gold silver production
• Base metals concentrates
• Mining operations management
• Mineral resource extraction

Headquarters

HQ city

Vancouver

HQ country

Canada

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Supply Chain, Others

Revenue model

1. Gold Production and Sales: Fortuna generates the majority of its revenue from the production and sale of gold doré bars, produced at its three operating mines (Séguéla in Côte d'Ivoire, Lindero in Argentina, and Caylloma in Peru). Gold is sold to refiners and commodity traders, with pricing linked to spot gold market prices. Realized gold prices averaged $4,884/oz in Q1 2026 and $4,166/oz in Q4 2025.
2. Silver and Base Metal Concentrate Sales: The Caylloma Mine in Peru produces silver, lead, and zinc as co-products/by-products. Silver is recovered as doré or concentrate; lead and zinc are sold as concentrates to smelters under offtake agreements. These co-product revenues provide diversification against gold price volatility.
3. Exploration and Development Asset Appreciation: The company creates value through exploration success that expands mineral reserves and resources. In 2026, consolidated mineral reserves grew 15% year-over-year to 3.0 million GEOs, supporting long-term revenue generation potential.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels5 records

Core offering

Fortuna Mining is a Canadian mid-tier precious metals producer that operates three producing mines — the Séguéla gold mine in Côte d'Ivoire, the Lindero gold mine in Argentina, and the Caylloma polymetallic (silver, lead, zinc, gold) mine in Peru. The company sells gold doré bars to refiners and base metal concentrates (lead, zinc) to smelters at prevailing commodity market prices, with a development pipeline anchored by the Diamba Sud Gold Project in Senegal.

Product overview

Fortuna Mining is a Canadian mid-tier precious metals mining company with three operating mines and exploration projects in Latin America and West Africa. The company produces gold, silver, zinc, and lead. Its core operating assets are the Séguéla Mine (gold, Côte d'Ivoire), Lindero Mine (gold, Argentina), and Caylloma Mine (silver-polymetallic, Peru). Growth is driven by the Diamba Sud Gold Project in Senegal (targeting construction decision in mid-2026), the Quartzstone Project in Guyana (earn-in agreement), and the Arizaro Gold Project in Argentina. The company also maintains regional exploration programs in West Africa, including the Tongon Nth prospect in Côte d'Ivoire and the Siguiri Basin alliance in Guinea.

Differentiator

Problem solved

Functional benefit

Products and services

• Séguéla Mine Open-pit gold mine in Côte d'Ivoire operated by Roxgold Sango S.A. (90% Fortuna, 10% State of Côte d'Ivoire) producing gold doré bars sold to refiners at spot prices. Conventional open-pit mining with SAG milling, gravity recovery, and CIL processing at 3,750 tpd capacity.
• Lindero Mine Open-pit gold mine in Salta, Argentina (3,500–4,000 m elevation) operated by Mansfield Minera S.A. (100% Fortuna). Gold porphyry deposit processed via heap leaching with SART and ADR processing plants producing gold doré bars.
• Caylloma Mine Underground polymetallic mine in Arequipa, Peru (4,500 m elevation) operated by Compania Minera Bateas S.A.C. (100% Fortuna). Produces silver, gold, zinc, and lead concentrates via cut-and-fill mining and flotation processing, sold to smelters.
• Quartzstone Project Gold exploration property in north-central Guyana covering 29,600 hectares of greenstone belt. Historical drilling has identified multiple high-grade near-surface gold zones including intercepts of up to 101.58 g/t Au over 13.1 meters.
• Arizaro Gold Project Gold-porphyry exploration project located 3 km from the Lindero Mine in Salta, Argentina. Represents a brownfield exploration opportunity with similar geology to the producing Lindero deposit.

Quantifiable outcome

• 15% year-over-year increase in consolidated mineral reserves to 3.0 million GEOs, driven by resource-to-reserve conversions at Séguéla's Sunbird deposit (34% underground reserve growth, 55% inferred resource growth)
• +4 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered minor.

• Lycopodium Minerals Canada Ltd.minorImplementation/ SI/ Consulting Partner · 3 December 2025Lycopodium Minerals Canada Ltd. was selected by Fortuna to conduct a feasibility study for the expansion of the processing plant at the Séguéla Mine in Côte d'Ivoire, targeting a capacity increase of 15 to 40 percent. The study was expected to conclude by Q2 2026, supporting Fortuna's goal of increasing annual gold production at the mine.
• DeSoto Resources LimitedminorStrategic or Co-development Partner · 1 October 2025In October 2025, Fortuna executed a binding Heads of Agreement with DeSoto Resources Limited, an Australian-listed gold exploration company, to establish an exploration alliance and joint venture across the highly prospective Siguiri Basin in Guinea. The agreement provides Fortuna with an entry into a new highly prospective West African region, working alongside a team with a proven track record of discovery across West Africa.
• Qstone Inc.minorStrategic or Co-development Partner · 20 April 2025Fortuna entered into an earn-in agreement with Qstone Inc., a private Guyanese company, to earn up to a 70% interest in the Quartzstone Project (29,600 hectares, greenstone belt in north-central Guyana). To earn an initial 51%, Fortuna must complete 60,000 meters of drilling within four years and paid a non-refundable $5M cash option premium. Historical drilling identified multiple high-grade near-surface gold zones including intercepts of up to 101.58 g/t Au over 13.1 meters.

Scale indicators16 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• Endeavour Mining: Mid-tier gold producer with a portfolio of West African mines (notably Côte d'Ivoire, Burkina Faso, Senegal). Closely comparable to Fortuna on scale, geography, and gold-only focus.
• IAMGOLD Corporation: Mid-tier gold miner with significant West African operating presence (Essakane in Burkina Faso, Côté Lake in Canada) and a development project pipeline. Similar size, mix of producing and development assets, comparable geography mix.
• Kinross Gold Corporation: Mid/large gold producer with diversified operating mines across the Americas and West Africa (including Tasiast in Mauritania). Comparable in size, gold-only focus, and multi-jurisdictional footprint.
• Equinox Gold Corp. Multi-asset gold producer with operations in Canada, the US, Mexico, and Brazil. Similar mid-tier scale, gold-focused, and uses a multi-mine platform model with brownfield exploration.
• Centerra Gold Inc. Canadian mid-tier gold producer operating mines in Canada, Turkey, and Kyrgyzstan, with gold and copper by-products. Closely comparable on size, jurisdictional mix, and TSX/NYSE-listed mid-tier profile.
• Pan American Silver Corp. Mid-tier silver and gold producer with Latin American mines including Peru. Highly comparable for the Caylloma silver-lead-zinc asset and Fortuna's legacy identity as a silver producer.

Broad incumbents

• Agnico Eagle Mines Limited: Large senior gold producer with operations across Canada, Australia, Finland, and Mexico. Overlapping gold-focused portfolio model but at substantially larger scale than Fortuna.
• Barrick Gold Corporation: One of the world's largest gold miners with a global portfolio including West Africa and Latin America. Operates at much greater scale than Fortuna but competes for the same investor capital in the gold space.
• Newmont Corporation: The world's largest gold producer with a globally diversified mine portfolio including West Africa and Peru. Industry-wide benchmark for senior gold producers and a direct competitor for institutional gold equity flows.
• Gold Fields Limited: Major gold producer with operations in Australia, Ghana, South Africa, Peru, and Chile. Larger scale incumbent with diversified gold exposure overlapping Fortuna's precious metals focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/fortunamining
• LinkedInlinkedin.com/company/fortunamining

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments3 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fortuna Mining