Summarize and humanize this content to 2000 words in 6 paragraphs in English Fortuna Mining, a Canadian precious metals mining company, has signed a definitive share purchase agreement with Soleil Resources International (SRI) to divest its ownership in Roxgold Sanu, the operator of the Yaramoko gold mine in Burkina Faso, and its other subsidiaries in a $130m (C$179.86m) deal. This transaction will mark Fortuna’s exit from operations in Burkina Faso. SRI is a private company based in Mauritius that operates three mines and a drilling company in Burkina Faso. Under the terms of the agreement, SRI will acquire all issued and outstanding shares of the acquired companies. Fortuna will receive a total cash payment of approximately $130m, which includes a $70m consideration upon closing, a $57.5m cash dividend from Roxgold Sanu and the potential to receive up to an additional $53m related to value-added tax receivables, subject to certain conditions. Fortuna Mining president and CEO Jorge A. Ganoza said: “Considering the limited remaining life of mineral reserves at Yaramoko (approximately one year), the cessation of our exploration activities in-country, and the increasingly challenging business climate in Burkina Faso, the transaction represents a prudent exit that optimises value, avoids approximately $20m in future mine closure liabilities, and provides Fortuna with additional liquidity as we pursue opportunities more closely aligned with our strategic objectives. “We believe that Soleil, as a private local company, is well positioned to continue operations at the Yaramoko Mine to the benefit of employees and local stakeholders.” The transaction is contingent upon several conditions including the payment of the cash dividend by Roxgold Sanu to Fortuna, the consent of the Minister of Mines and other customary closing conditions for deals of this nature. The completion of the sale is expected in the second quarter of 2025 (Q2 2025). INFOR Financial served as the financial advisor to Fortuna throughout the transaction process. In January 2025, Fortuna Mining announced the sale of its entire stake in Compañía Minera Cuzcatlán to Minas del Balsas in a transaction valued at up to $17m (343.79m pesos). “Fortuna divests Yaramoko mine for $130m, marking exit from Burkina Faso” was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
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