New agreements with the Malian government around the Fekola Mine pave the way for underground operations and regional expansion.
B2Gold Moves Ahead with Underground Mining at Fekola
Canadian gold producer B2Gold (site) has received key approval from the Malian government to commence underground mining at its flagship Fekola Mine. This milestone follows the company’s submission of a final feasibility study and represents a significant step forward in optimizing operations and extending the life of the mine.
The Fekola Complex, located in southwest Mali, undertook its first gold pour in 2017 and is owned 80% by B2Gold and 20% by the State of Mali. With this new development, the company is positioned to unlock additional high-grade ore and improve mining flexibility through a dual open-pit and underground approach.
A Defined Path for Regional Growth
In addition to the underground mining approval, B2Gold has agreed on a framework with the State of Mali for the exploitation of the Fekola Regional permit (Anaconda Area), formerly the three separate Bantako, Menankoto and Bakolobi permits, now consolidated into one permit “Menankoto” and the Dandoko permit). This agreement outlines fiscal and legal terms for the development of nearby satellite deposits such as Bantako North and will be owned 65% by B2Gold and 35% by the State of Mali.
This defined path forward is expected to support long-term production from the Fekola complex by incorporating high-potential regional targets. B2Gold plans to start mining at Bantako North in the second half of 2025, marking the first step in a broader regional strategy.
Strategic Impact on West African Gold Production
With underground development underway and regional satellite mining on the horizon, B2Gold is reinforcing its position as a leading gold producer in West Africa. The Fekola Complex’s 2025 production guidance sits at 515,000-550,000 ounces of gold.
B2Gold’s strengthened cooperation with Mali comes at a time of growing interest in African mineral resources, as global markets look for reliable sources of gold amid geopolitical uncertainty and inflationary pressures.
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