Côte d’Ivoire’s Séguéla gold mine exceeded its production target in 2025, reinforcing the country’s ambitions to expand gold output as global prices remain near record highs.
The mine produced 152,426 ounces of gold during the year, surpassing the guidance range of 134,000 to 147,000 ounces set by its operator, Canada’s Fortuna Mining, the company said in an operational update published on Jan. 15.
The performance marks the second full year of production for Séguéla, which was commissioned in 2023, and reflects a continued ramp-up in operations. Output rose by about 10% from 2024, when the mine produced 137,781 ounces.
Fortuna said the stronger-than-expected results position Séguéla for further growth in 2026, with production forecast to rise to as much as 170,000 ounces next year.
Over the longer term, the company expects annual output to exceed 200,000 ounces, supported by plans to expand the mine’s processing capacity and develop underground operations.
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Those expansion plans remain at the feasibility study stage, but Fortuna said it has already incorporated them into its annual budget. The company has allocated $14 million in growth capital for the project, including investments linked to underground mining development.
Séguéla is one of the most significant recent additions to Côte d’Ivoire’s mining sector, which has expanded rapidly over the past decade as the West African nation seeks to diversify its economy beyond agriculture.
Although Fortuna has not yet released consolidated financial results for 2025, the higher production comes amid a sharp rise in global gold prices, which increased by about 70% over the year, potentially boosting revenues once figures are published.
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The mine’s performance also aligns with national policy goals. Côte d’Ivoire aims to raise total gold production to 62 tonnes in 2025, up from 58 tonnes in 2024, as authorities seek to position the country as one of Africa’s leading gold producers.
Mining has become an increasingly important contributor to government revenues and foreign exchange earnings, alongside cocoa, the country’s dominant export.
Under the ownership structure at Séguéla, the Ivorian state holds a 10% stake, while Fortuna Mining controls the remaining 90%. The arrangement reflects a broader trend in the region, where governments seek to retain minority stakes in strategic mining assets while relying on foreign companies for capital and technical expertise.
Fortuna has said Séguéla benefits from favourable geology and relatively low operating costs, factors that support its longer-term expansion plans. The company believes underground mining could extend the life of the operation and increase output beyond current levels.
Industry analysts say sustained investment in processing capacity and underground development will be key to determining whether Séguéla can reach its longer-term production targets, particularly as mining companies face rising costs and increased scrutiny over environmental and social impacts.
Côte d’Ivoire has sought to attract foreign mining investment through regulatory reforms and infrastructure development, while also tightening oversight to ensure greater local benefits from resource extraction.
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The government has promoted mining as a pillar of its industrialisation strategy, arguing that higher production volumes and value addition could help stabilise public finances and create jobs.
Séguéla’s strong output in 2025 adds momentum to those ambitions, even as competition intensifies across West Africa for exploration funding and development capital.
With gold prices remaining elevated and expansion plans under consideration, the mine is expected to play a growing role in both Fortuna’s portfolio and Côte d’Ivoire’s mining sector in the years ahead.
