The Canadian mining company B2Gold is one of the medium-sized senior gold producers. The company’s portfolio includes several operating gold mines where B2Gold forecasts gold production of 990000 to 1050000 ounces in 2022.
In addition to its producing mines, B2Gold is working on various development and exploration projects in several countries around the globe. For one of the promising exploration projects, B2Gold now announced an updated mineral resource estimate that could make the project even more profitable.
B2Gold was founded in 2007 in Vancouver, Canada, where the company’s headquarters are still located today. Since then, B2Gold has grown into a mid-tier senior gold producer, producing around 1 million ounces of gold from a total of three active gold mines.
In addition, B2Gold has several development and exploration projects in various countries such as Mali, Namibia, Colombia, Uzbekistan and Finland.
The productive mines of B2Gold
B2Gold’s portfolio includes the Fekola mine in Mali, the Masbate mine in the Philippines and the Otjikoto mine in Namibia.
The Fekola mine is located on the border between Mali and Senegal and has been owned by B2Gold since 2014. It is the company’s most profitable mine. In the third quarter of 2021, B2Gold achieved record production of 165557 ounces of gold from the Fekola Mine.
As a result of this strong production performance, the 2022 guidance for the Fekola Mine has been increased to 560000 to 570000 ounces of gold from the original 530000 to 560000 ounces in 2022.
The Masbate Mine is located on Masbate Island (Philippines) and has been part of B2Gold’s portfolio on a pro rata basis since 2013. B2Gold expects to produce 215000 to 225000 ounces of gold at Masbate in fiscal 2022.
About 300 km north of Namibia’s capital Windhoek lies the Otjikoto Mine. It is the largest mine in Namibia and has been part of B2Gold’s properties since 2011. Gold production at Otjikoto began in 2014. In the past fiscal year 2021, 210000 ounces of gold could be produced at Otjikoto underground mine.
Various development and exploration projects
B2Gold owes its successful growth not least to its numerous development and exploration projects. Currently, for example, the Gramalote development project in Colombia and further exploration in the active mining areas and the Anaconda area in Mali are among the company’s most promising projects.
The Anaconda area is only about 20 km north of the Fekola license area. B2Gold has just significantly increased the previous mineral resource estimate for this exploration area. Accordingly, the Indicated Mineral Resource is now 1130000 ounces of gold and the Inferred Mineral Resource is 2280000 ounces.