en.Wedoany.com Reported - Fortuna Mining has disclosed a total investment plan of $71 million, aiming to strengthen its operations in Argentina and Peru in 2026 to capitalize on current high precious metal prices, increase gold production, and advance exploration efforts.
The Toronto and New York-listed miner will allocate $41 million to the Lindero gold mine in Salta Province, Argentina. The mine's 2026 gold production target is set between 92,000 and 102,000 ounces. In addition to sustaining capital expenditures, the budget will support exploration of the Cerro Lindo and Arizaro deposits, with related drilling activities expected to conclude by the end of the third quarter.
In the second quarter of 2025, the Lindero mine produced 20,829 ounces of gold, bringing the first-half total to 42,374 ounces, in line with the annual plan. Fortuna expects that, following the completion of major modernization projects at the main processing plant, equipment mechanical availability will significantly improve in the second half of the year, thereby increasing ore crushing and stacking rates while enabling the processing of higher-grade ore. The company stated that these improvements will drive operational efficiency and production gains in the coming months. In a market environment of sustained gold demand and price volatility, these developments are critical to maintaining the company's competitiveness.
In Peru, Fortuna plans to invest $29.9 million in the Caylloma polymetallic mine, operated by its subsidiary Compañía Minera Bateas. Funds will primarily be used for brownfield exploration projects and the expansion of the tailings storage facility. As of the end of last month, construction of the tailings facility had reached 28% completion, in line with the planned schedule. In the second quarter, the Caylloma mine processed 133,940 tonnes of ore, with 75% extracted using the cut-and-fill mining method and the remainder via sublevel stoping. In the first half of 2026, the mine produced 19,016 gold equivalent ounces (GEO), positioning it to achieve its full-year target of 29,000 to 33,000 GEO.
In addition to gold, the Caylloma mine also produces silver, zinc, and lead, further solidifying its status as a key asset for Fortuna in South America. The company's 2025 gold production at the Lindero mine reached 87,489 ounces, laying the groundwork for targeting higher production levels in 2026. Through these investments, Fortuna aims to boost gold production while expanding mineral resource reserves via ongoing exploration, thereby strengthening its growth strategy across existing operational assets.
