West Africa key to gold growth, Fortuna CEO says

West Africa has emerged as an indispensable region for gold production and mining growth due to its massive mineral endowment and accelerated permitting timelines, according to Jorge Ganoza, CEO of Fortuna Mining. Speaking on the Northern Miner podcast, Ganoza highlighted that West African nations collectively produce more gold than China. While acknowledging elevated geopolitical risks in the jurisdiction, he emphasized that the ability to permit and develop mines faster than in other regions makes the risk-reward dynamic favorable for specialized producers. However, expanding gold operations in the region faces growing supply chain headwinds. Mining companies are increasingly competing for skilled labor, contractors, and critical heavy machinery. In particular, power generators have faced severe supply constraints and competition driven by global demand from AI data center expansions. To mitigate operational bottlenecks, Fortuna has committed early capital to secure equipment ahead of formal exploitation permits for projects like the newly acquired Bambadji gold project in Senegal.