Fortuna Mining Corp.

Overview

Fortuna Mining Corp., formerly known as Fortuna Silver Mines Inc., is a Canadian-based mid-tier precious metals producer with a global operational footprint. Established in 2005, the company has strategically evolved from a Latin American silver-focused company into a geographically diversified gold and silver producer, with a significant presence in West Africa. The company’s shares are publicly traded on major exchanges, including the New York Stock Exchange (NYSE: FSM), the Toronto Stock Exchange (TSX: FVI), and the Frankfurt Stock Exchange.

Core Business and Strategy

Fortuna's core business involves the exploration, extraction, and processing of precious metals (primarily gold and silver), with by-products including lead and zinc.

The company's strategy is built on several pillars:

• Geographic and Commodity Diversification: Operating mines across different continents (Latin America and West Africa) and producing a mix of metals helps mitigate single-jurisdiction political risk and commodity-specific price downturns.
• Operational Excellence: The company maintains a focus on efficient and low-cost production to ensure profitability across various metal price cycles.
• Strategic Growth: Fortuna actively invests in exploration and development, with a robust pipeline of projects, particularly in West Africa. This focus on organic growth and strategic acquisitions, such as the 2021 acquisition of Roxgold and the 2023 acquisition of Chesser Resources, has been key to its transformation.

Operations and Key Assets

As of late 2025, Fortuna Mining operates three producing mines and a key development project across three countries:

• Séguéla Gold Mine (Côte d'Ivoire): This open-pit gold mine is currently the company's flagship asset and is the largest revenue generator, contributing significantly to the shift in the company's focus toward gold. The company is currently planning a plant expansion for this mine.
• Lindero Gold Mine (Salta, Argentina): An open-pit gold project that poured its first gold in 2020.
• Caylloma Mine (Arequipa, Peru): An underground silver-lead-zinc mine, which was one of the company’s foundational assets and continues to produce silver and base metal by-products.

In line with its strategic transition to focus on gold and West African operations, Fortuna divested its long-time producing San Jose silver-gold mine in Mexico and the Yaramoko Mine in Burkina Faso in early 2025.

Development Pipeline

The company's most advanced project is the Diamba Sud Gold Project in Senegal. A Preliminary Economic Assessment (PEA) was released in late 2025, highlighting strong development potential and projected high returns, positioning it as the next key growth initiative with a construction decision targeted for the first half of 2026.

Commitment and Governance

Fortuna Mining emphasizes a commitment to Environmental, Social, and Governance (ESG) principles. This includes a dedication to safety, environmental stewardship (such as minimizing water consumption and reducing GHG emissions), and social responsibility, which involves providing opportunities for local communities. The company's corporate headquarters are in Vancouver, Canada, with regional head offices in Lima, Peru, and Abidjan, Côte d'Ivoire. The management is committed to financial discipline, maintaining a strong balance sheet and prioritizing a safe and sustainable operational environment.

You can find out more about the company's corporate social responsibility initiatives in this video: Fortuna Mining Corp..