Name of the Project
Gramalote gold project.

Location
Department of Antioquia, Colombia.

Project Owner/s
Canadian mining company B2Gold.

Project Description
A feasibility study, with an effective date of April 1, 2025, has proven positive.

The mineral reserve estimate, which forms the basis for the feasibility study, includes probable mineral reserves of 76.7-million tonnes grading 0.96 g/t gold for 2.36-million ounces of contained gold. 

The study proposes the recovery of gold from an openpit mining operation that will move up to 35.5-million tonnes a year of ore over an initial life-of-mine of 11 years, with mill processing over the life-of-project of 13 years.

A six-million-tonne-a-year processing plant – which includes crushing, grinding and flotation – with fine grinding of the flotation concentrate and agitated leaching of the flotation concentrate, followed by a carbon-in-pulp recovery process, will process doré bullion.

Life-of-project gold production is estimated at 2.26-million ounces, with an average gold recovery of 95.7% from conventional milling, flotation and cyanide leach of the flotation concentrate.

Average gold production is estimated at 227 000 oz/y for the first five years of production, with average gold production over the life-of-project estimated at 177 000 oz/y.

Potential Job Creation
Not stated.

Net Present Value/Internal Rate of Return
At a discount rate of 5% and $2 500/oz gold price, the after-tax net present value is estimated at $941-million, generating an after-tax internal rate of return of 22.4%, with a project payback on preproduction capital estimated at 
3.4 years.

Capital Expenditure
$740-million.

Planned Start/End Date
Not stated.

Latest Developments
None stated.

Key Contracts, Suppliers and Consultants
None stated.

Contact Details for Project Information
B2Gold, tel +1 604 681 8371 or email info@b2gold.com.