B2Gold Hits Gold Production Targets in Mali, Eyes Future Amid Permit Delays
Canadian mining firm B2Gold has successfully met its gold production targets for 2023, with its Fekola mine in Mali playing a pivotal role in this achievement. The company announced on January 24 that it produced a total of 1.06 million ounces of gold across all its operations globally in 2023, with the Fekola mine contributing 590,243 ounces, equivalent to approximately 16.73 tonnes of gold.
Located 500 km west of Mali's capital, Bamako, Fekola stands as the country's second-largest gold mine. B2Gold, which holds an 80% stake in the mine with the remaining 20% owned by the Malian government, has highlighted Fekola's significant contribution to its annual production. Despite this success, B2Gold anticipates a reduction in gold output from Fekola in 2024, projecting between 470,000 and 500,000 ounces due to delays in securing a mining permit for the Fekola Regional satellite deposit. This new site is expected to bolster Fekola's production by 80,000 to 100,000 ounces annually once operational.
The anticipated dip in 2024's production at Fekola is attributed to regulatory challenges, specifically the delay in implementing Mali's new mining code, which is crucial for the issuance of new mining permits. B2Gold remains optimistic about Fekola Regional's potential, expecting its contribution to commence in 2025 once the necessary permits are secured.
