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B2Gold Corp., headquartered in Vancouver, Canada, is a prominent international gold mining company. Established in 2007, B2Gold has rapidly ascended to become one of the fastest-growing intermediate gold producers globally. The company's portfolio includes four operating mines and numerous exploration projects spread across four continents, including significant activities in Nicaragua, the Philippines, Namibia, Mali, and Burkina Faso.
B2Gold's core business revolves around the acquisition, exploration, and development of mineral properties, primarily focusing on gold deposits. This focus is evident in their four operational mines: the Fekola Mine in Mali, the Masbate Mine in the Philippines, the Otjikoto Mine in Namibia, and the Goose Project. Additionally, the company is advancing its construction efforts at the Fekola Mine in southwest Mali, which is on schedule and within budget, with production expected to commence by the end of 2017.
With an emphasis on maintaining a low-cost structure, B2Gold is well-positioned to achieve significant growth, targeting an annual gold production of approximately 800,000 to 850,000 ounces by 2018, while simultaneously reducing production costs. This strategic approach ensures the company’s financial stability and continual expansion.
B2Gold’s diverse assets also include the Gramalote and Kiaka projects, further solidifying its reputation as a leading player in the gold mining industry. The company operates without dependency on any specific purchaser, as its gold production is sold in the global market, ensuring robust revenue streams.
Recent achievements and ongoing projects highlight B2Gold’s commitment to sustainable development and operational excellence. The company's dedication to growth and innovation is evident in its increased production targets and declining costs, making it a significant entity in the global mining sector.
For more information or to contact B2Gold Corp., please visit their corporate website.
B2Gold Corp. (BTG) has sold 79,000,000 common shares of Calibre Mining Corp., generating C$139.04 million in gross proceeds through a block trade. This transaction reduces B2Gold's ownership in Calibre from 14.1% to less than 10%, meaning it is no longer a 'reporting insider' under National Instrument 55-104. B2Gold's decision was driven by investment considerations such as price, market conditions, capital allocation priorities, and corporate strategy. Despite the sale, B2Gold remains a supportive shareholder of Calibre.
B2Gold has reported an initial Inferred Mineral Resource Estimate for the Springbok Zone within the Antelope deposit at the Otjikoto Mine in Namibia. Discovered in 2022, the Antelope deposit includes the Springbok and Oryx zones, with a potential third zone, Impala, pending further drilling. The Springbok Zone features an estimated 390,000 ounces of gold from 1.75 million tonnes at 6.91 g/t. This resource estimate paves the way for a Preliminary Economic Assessment (PEA) and potential underground mining. Positive PEA results and permits could enable mining to commence in 2026, boosting gold production to over 100,000 ounces annually until 2031. Recent drilling indicates further exploration potential beyond the currently defined resource. The ongoing 2024 exploration program, with a $9 million budget, aims to extend the known mineralization.
B2Gold has reported positive preliminary economic assessment (PEA) results for its 100%-owned Gramalote gold project in Antioquia, Colombia. The PEA reveals an after-tax net present value (NPV) of $778 million at a 5% discount rate, and an after-tax internal rate of return (IRR) of 20.6%. The project is expected to generate an after-tax free cash flow of $1.38 billion over its life. The open pit mine has an initial life of 10 years, processing gold over 12.5 years, and anticipates producing 2.3 million ounces of gold with an average recovery rate of 95.9%. The initial five years will see an average annual gold production of 234,000 ounces. The project’s all-in sustaining costs (AISC) are projected to be $886 per ounce. Pre-production capital costs are estimated at $807 million. B2Gold plans to begin feasibility work, aiming to complete a feasibility study by mid-2025. The project benefits from robust infrastructure, local support, and promising metallurgical characteristics.
B2Gold has entered into an agreement to sell a portfolio of 10 precious and base metals royalties to Sandbox Royalties, now renamed Versamet Royalties. This transaction provides B2Gold with an equity interest of 33% in Versamet, valued at $90 million, through the issuance of 153.2 million common shares at C$0.80 per share. The royalties portfolio includes significant NSR royalties on projects like Kiaka Gold, Toega Gold, Quebradona, Mocoa, and Primavera, among others. B2Gold retains a 22.5% silver royalty on Glencore's Hackett River project. The first phase of the transaction, valued at $72 million, closed on June 5, 2024, with the remaining royalties expected to be finalized within 60 days. This strategic partnership is intended to unlock the value of B2Gold's royalties and provide ongoing exposure to Versamet's expanding portfolio, which includes 28 royalties, with expectations for increased cash flow in the near term.
B2Gold has released its eighth annual Responsible Mining Report and its third annual Climate Strategy Report. The Responsible Mining Report, titled 'Raising the Bar,' highlights B2Gold's economic contributions, environmental management, and social governance for 2023. Key achievements include producing 1,061,060 ounces of gold, generating $1.9 billion in revenue, and paying $435 million in taxes and royalties. The company has also committed to a 30% reduction in Scope 1 and 2 GHG emissions by 2030. The reports emphasize B2Gold's dedication to sustainability, community engagement, and environmental stewardship.
B2Gold Corp. reports Q1 2024 results with total gold production of 225,716 ounces, cash operating costs below guidance, and an update on the successful completion of the Goose Project's winter ice road campaign. The company had a strong financial position with cash and cash equivalents of $568 million. A Q2 2024 dividend of $0.04 per share was declared. The Goose Project mill construction is on schedule, but open pit and underground development is slightly behind. The company expects first gold production in Q2 2025.
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