B2Gold expects approval of exploitation permits for Fekola Regional and the exploitation phase of Fekola underground in Mali to be expedited.
This comes after the company reached an agreement on terms with the Mali government relating to the framework for the Fekola Complex, comprised of the Fekola Mine and Fekola Regional.
B2Gold said upon issuance of the exploitation permit for Fekola Regional, mining operations will begin with initial gold production expected to commence in early 2025, with the potential to generate about 80,000 to 100,000 ounces of additional gold production per year.
Initial gold production from Fekola underground is expected to commence in mid-2025.
The 2024 exploration programme is currently underway in Mali with a total of $10 million budget, with an ongoing focus on the discovery of additional high-grade mineralisation across the Fekola Complex to supplement feed to the Fekola mill.
Significant exploration potential remains across the Fekola Complex to further extend the mine life.
Through 2040, the 2012 Mining Code and the Fekola Mining Convention will continue to govern the Fekola Mine, including the Fekola underground.
This, said B2Gold, includes continued stability of the ownership, income tax and customs regimes and the company’s dispute resolution rights under the Fekola Mining Convention.
Mathew Nyaungwa, Editor in Chief, Rough&Polished
