Loading ...B2Gold Continues to Operate Unimpeded at its Fekola Mine in Mali
newsalerts@b2gold.mediaroom.com
Wed 8/19/2020 2:31 AM
News Release Issued: Aug 19, 2020 (3:30am EDT)
B2Gold Continues to Operate Unimpeded at its Fekola Mine in Mali
VANCOUVER, Canada, Aug. 19, 2020 /CNW/ – B2Gold Corp. (TSX: BTO) (NYSE AMERICAN: BTG) (NSX: B2G) (“B2Gold” or the “Company”) announces that the Company continues to monitor the evolving political situation in Mali. B2Gold’s mining operations at its Fekola Mine have not been affected in any way and the Company continues mining and milling operations as normal. The Fekola Mine has sufficient supplies on hand to maintain its budgeted activities through the end of the third quarter and beyond if needed. The Fekola mill expansion remains on schedule. No operational days have been lost due to the political situation in the country and all of B2Gold’s mine personnel are safe.
B2Gold will continue to monitor the situation and work to ensure that its mining operations continue normally, providing economic benefits and job creation both to the communities around the mine and to regional and national governments. Foreign investment and political stability in Mali are crucial for the country.
B2Gold has enjoyed a positive relationship with the Government of Mali from the beginning of its investment in the country, including, most recently, partnering with the government to assist the people of Mali in facing the challenges created by the COVID-19 pandemic and its impact on the mining sector.
As one of the largest Canadian investors in Mali, B2Gold has enjoyed strong support for its investment which now totals nearly US$1 billion. With more than 2,200 employees in Mali (more than 93% Malians), B2Gold has provided major economic benefits, training and capacity building to Malians, providing more than US$37 million in salaries for employees in 2019 alone. As a vital commercial enterprise in Mali, the Fekola Mine generated almost US$134 million in revenue for the Government of Mali in 2019.
The State of Mali has a 20% ownership in the Fekola Mine, in addition to benefitting from royalties and taxes.