A critical area in which the mining industry can drive meaningful change is by establishing itself as a strategic partner to national governments, particularly in supporting them to achieve their national-content goals, says precious metals miner Fortuna Mining CEO, president and director Jorge Ganoza.

Ganoza will attend this year’s Investing in African Mining Indaba as a representative of Fortuna Mining to gain more insight, through conversations and collaborations, to strengthen the company’s network in the African mining sector.

National-content goals vary from country to country and it is, therefore, essential to engage in ongoing dialogue with the governments of African countries to understand their specific priorities and collaborate on setting shared, realistic goals with clear timeframes.

He adds that, to secure the future of mining in the region, miners must align their strategies with those of both national and local governments, consequently helping them to realise that the value of mining exceeds job creation and generating tax revenue.

“Society now demands more from mining companies, and we must be proactive in contributing to the broader socioeconomic development of the region.”

This includes working closely with local governments to mobilise local industries, support the development of skilled professionals and promote local talent through the management ranks because, “by doing so, we can ensure mining’s lasting positive impact on communities and secure its future in the region”, Ganoza explains.

Eye on the Prize

As a relatively new player in the African gold mining market, Fortuna Mining has high expectations for its continued growth and presence in Africa, says Ganoza, adding that the company considers West Africa as a strategically important region for its long-term growth and success.

In 2024, Fortuna targeted between 457 000 oz and 497 000 oz of gold-equivalent production across all its mines, with Africa contributing about 55% of its consolidated production.

Fortuna’s operations in West Africa represent about two-thirds of the business’s assets, underscoring their significant role in the company’s overall performance and profitability.

Its two mining projects in West Africa comprise the Yaramoko mine, in Burkina Faso, and the Séguéla mine, in Côte d’Ivoire, while it is advancing the Diamba Sud gold exploration and development project, in Senegal.

Ganoza adds that, in 2023, Fortuna contributed over $74-million to the governments of the countries in which it operates.

“Our priority is to grow our mines and advance the exploration project.”

He adds that Fortuna is committed to supporting local communities, having invested more than $8-million in various programmes in 2023 that focus on education, healthcare and infrastructure, all of which align with the priorities of local and national governments.

“The region’s exceptional mineral endowment allows companies to achieve low-cost production per ounce, owing to the richness of its deposits.”

Over the years, he says the development of industry clusters in West Africa “has greatly enhanced” operational efficiency, reduced capital intensity and made it more cost-effective to build and manage mining projects.

“To connect with industry peers and government representatives, engage in discussions on key industry topics, gain insights into the latest sector trends, and further strengthen our network, we will attend this year’s Investing in African Mining Indaba,” Ganoza enthuses.