B2Gold Corp. has secured the Menankoto exploitation permit from the State of Mali, unlocking a key growth phase that will see Fekolar Regional ramp up operations through the end of 2027 and produce over 150,000 ounces of gold per year from 2028 through the mid-2030s.

The issuance of the permit changes the operational timeline for the Fekola Complex, triggering the immediate commencement of mining pre-stripping activities and the finalization of a tolling agreement. Under a September 2024 governance agreement between B2Gold and the State of Mali, the Menankoto Exploitation Permit was issued under the 2023 Mining Code.

Following the ownership structure agreed for the regional assets, the Fekola Regional project will be held 65% by B2Gold and 35% by the State of Mali. It is located approximately 20 kilometers from the established Fekola Mine, which remains subject to the 2012 Mining Code and is owned 80% by B2Gold and 20% by the State of Mali.

Previous guidance from September 2024 had anticipated initial gold production from Fekola Regional starting as early as early 2025. The current permitting arrangement instead schedules the operational ramp-up through the end of 2027, setting up the sustained production profile extending into the mid-2030s.

“The issuance of the Menankoto Exploitation Permit is a significant milestone for both B2Gold and the State of Mali. The Fekola Complex is currently the largest producing gold mine in Mali and issuance of the Menankoto Exploitation Permit secures the future of the operation well into the late 2030’s. B2Gold is committed to working in a transparent manner to ensure the continuation of the positive and mutually beneficial partnership between the Company and the State of Mali, for the benefit of the Malian people and all stakeholders. The Company's total investment in Mali since 2014 has reached over $2.0 billion, and B2Gold is a significant employer with more than 3,300 workers of which approximately 98% are Malian nationals. Through its investments, B2Gold has provided major economic benefits including job creation, training, capacity building and community investments, and looks forward to continuing to build on these benefits for many years to come.”

— Mike Cinnamond, President and CEO

Read the full announcement: B2Gold Granted Fekola Regional Exploitation Permit by the State of Mali