Canada-headquartered B2Gold has confirmed that its flagship Fekola mine in Mali is operating without limitations, with gold production and exports proceeding on schedule.

The announcement comes amid mounting challenges for international miners in Mali, highlighted by Barrick Gold’s reported decision to halt operations following disruptions by the government.

B2Gold in September reached an agreement with the Mali government relating to the framework for the Fekola complex.

Fekola produced 84 015 oz of gold in the fourth quarter of 2024, contributing to B2Gold’s total quarterly output of 186 001 oz. However, production at Fekola fell short of expectations owing to delays in accessing higher-grade ore from Phase 7. These delays stemmed from lower mining rates at the Fekola Phase 7 and Cardinal pits earlier in the year.

By the end of 2024, equipment availability had improved, and mining rates returned to anticipated levels, positioning Fekola for higher output in 2025. Other operations, including the Masbate mine, in the Philippines, and Otjikoto mine, in Namibia, exceeded expectations in the fourth quarter.

B2Gold’s total consolidated gold production for 2024 reached 804 778 oz, including 19 644 oz from Calibre Mining, placing it at the low end of its revised guidance for the year.

For 2025, B2Gold expects higher production, targeting between 970 000 oz and 1.06-million ounces. This growth will be driven by scheduled mining and processing of higher-grade ore from the Fekola Phase 7 and Cardinal pits, contributions from the Fekola Regional project starting in mid-2025, the commencement of higher-grade ore mining at Fekola Underground, and the start of gold production at the Goose project, in Canada, by the end of the second quarter of 2025.

This growth will be partially offset by the planned conclusion of openpit mining at the Otjikoto mine in the third quarter of 2025.

Meanwhile, B2Gold said the Goose project remained on track for its first gold pour in the second quarter of 2025, with all planned construction activities for 2024 successfully completed.

Progress continues as scheduled, supported by the timely completion of the 2024 sea lift.

Construction of the 163 km winter ice road is well under way and expected to be fully operational by March 2025, enabling the transportation of all materials from the marine laydown area to the Goose project site by the end of May.

The company continues to estimate that gold production in calendar year 2025 will be between 120 000 oz and 150 000 oz and that yearly annual gold production for the six-year period from 2026 to 2031 inclusive will be about 310 000 oz/y, with the latest published mineral reserves supporting a long mine life beyond 2031.