Gold miner B2Gold’s two African operations – namely the Fekola openpit mine in Mali, and Otjikoto open pit mine in Namibia – have both continued with strong operational performance into the third quarter of 2025, the miner reports in a mid-September operational update.

With openpit mining activities at Otjikoto scheduled to have been concluded in the third quarter of this year, B2Gold notes that the mine has continued to outperform expectations – with ore tonnes and the average gold grade mined exceeding expectations, providing more robust ore stockpiles than previously anticipated – as it nears the end of its openpit life.

As a result of the positive ore tonne and grade reconciliations, B2Gold is increasing its 2025 gold production guidance for Otjikoto to range between 185 000 oz and 205 000 oz, which is up from the original guidance range of between 165 000 oz and 185 000 oz.

Nonetheless, with the Otjikoto openpit operation drawing to a close, B2Gold has approved a development decision on the Antelope underground deposit at Otjikoto.

Subsequent to the February 4 release of the preliminary economic assessment results for the Antelope deposit, the company has completed further optimisation work on a small-scale, low-cost underground gold mine at Antelope.

B2Gold believes that the estimated pre-production capital cost for Antelope can be reduced from $129-million to $105-million, with the majority of pre-production capital forecasted to be spent during 2026 and 2027.

Production from Antelope has the potential to increase Otjikoto’s gold production to about 110 000 oz/y over the life of the underground mine.

Fekola Update

B2Gold also reports that its Fekola complex, which includes the Fekola and Cardinal openpits, has continued, into the third quarter of 2025, the strong operational performance it exhibited in the first half of the year.

As of early September, the gold production from the Fekola Complex remains ahead of budgeted levels for the year-to-date, thereby leading the company to reiterate its 2025 gold production guidance of 515 000 oz to 550 000 oz.

Mining activities at the Fekola and Cardinal openpits are anticipated to contribute between 485 000 oz and 510 000 oz of gold production in 2025, up from the original guidance range of 470 000 oz to 490 000 oz.

However, B2Gold is also looking to further capitalise on other deposits at the Fekola Complex by expanding operations underground. In this regard, on July 30, the State of Mali granted approval for B2Gold to start underground operations, including stope ore production at the Fekola mine, with underground performance exceeding expectations since receipt of the underground approval.

Subsequent to receipt of the underground mining approval, the company started processing Fekola underground volumes through the Fekola mill.

B2Gold also notes that initial underground gold grade reconciliations have been positive compared to the resource model.

As such, Fekola underground is anticipated to contribute between 30 000 oz and 40 000 oz of gold production this year, which is up from the original guidance range of 25 000 oz to 35 000 oz.