Fortuna Mining to invest US$71mn in Argentina and Peru to boost gold production in 2026

Canadian firm Fortuna Mining has announced a US$71 million investment program for 2026 focused on its operations in Argentina and Peru. The capital allocation aims to increase gold production at the Lindero mine in Salta and advance infrastructure and exploration at the Caylloma polymetallic mine in Arequipa. This strategic move reflects the company's efforts to capitalize on strong precious metals demand and expand its footprint across Latin America.

Fortuna Mining plans to allocate US$41 million toward its Lindero open-pit mine in Salta, Argentina, aiming to reach a production target between 92,000 and 102,000 ounces of gold in 2026. This investment follows a 2025 output of 87,489 ounces and includes funding for maintenance and exploration programs at the nearby Cerro Lindo deposit and the Arizaro sector, with the latter expected to conclude in the third quarter of 2026. Management notes that with major capital projects now finished, the operation is positioned for higher crushing and stacking rates due to improved mechanical availability throughout the processing circuit.

In Peru, the company will invest US$29.9 million at its Caylloma underground mine, operated by its subsidiary Compañía Minera Bateas. The funds are earmarked for brownfield exploration and the expansion of the mine's tailings storage facility, which was reported to be 28% complete as of last month. Caylloma is projected to achieve an annual production of 29,000 to 33,000 gold equivalent ounces (GEO), building on the 19,016 GEO recorded during the first half of 2026.

The broader US$71 million investment strategy is designed to strengthen Fortuna's presence in the precious metals market, complemented by its existing operations in Africa. Beyond gold, the Caylloma mine continues to produce silver, zinc, and lead, metals currently experiencing strong market demand. By focusing on both exploration and the reliability of its processing infrastructure, Fortuna Mining aims to sustain growth and optimize extraction across its Latin American portfolio.