Projects

Fekola Mine – Mali (1)

Please note that this page is currently being updated. Please click here for B2Gold's most recent news release re: Q3 & YTD 2018 Earnings, click here for B2Gold's Q3 & YTD 2018 MD&A and click here for B2Gold's Q3 & YTD 2018 Financial Statements.

The Fekola Mine is located in southwest Mali, on the border between Mali and Senegal, approximately 500 km due west of the capital city, Bamako. Click here for mine/project location map. 

B2Gold acquired the world-class Fekola Gold Project through a merger with Papillon Resources Limited in October 2014. Led by core members of B2Gold’s construction team, early work activities at the Company’s fifth and largest mine began in February 2015. On September 25, 2017, the Company announced that it had completed construction of the Fekola mill and commenced ore processing, more than three months ahead of the original construction schedule and on budget. The first gold pour at the Fekola Mine took place on October 7, 2017. Within only 60 days from start-up, the mine achieved commercial production on November 30, 2017, one month ahead of the revised schedule and four months ahead of the original schedule. Click here for Fekola Mine overview. 

Recent Updates:

Q2 2018 Performance Snapshot:

  • Gold production(2) was 112,644 oz11% above budget
  • Cash operating costs(3) were $318/ozwell below budget by 19%
  • All-in sustaining costs ("AISC")(3) were $445/ozwell below budget by 26%

FH 2018 Performance Snapshot:

  • Gold production(2) was 226,786 oz11% above budget
  • Cash operating costs were $293/ozwell below budget by 20%
  • AISC were $466/ozwell below budget by 23%

Click here for B2Gold's Q2 & FH 2018 Earnings news release, dated August 7, 2018

Looking Forward:

  • Based on Fekola's strong year-to-date performance, B2Gold has increased the mine's gold production guidance range from 400 Koz - 410 Koz to 420 Koz - 430 Koz(2) for 2018, at cash operating costs of between $345 - $390/oz and AISC of between $575 - $625/oz
  • Based on positive exploration results to date, B2Gold's in-house technical team is conducting engineering and other technical studies to ascertain the potential to expand the current Fekola Mine and mill facilities, and increase tonnage throughput beyond its current 5.5 million tonnes per annum ("Mtpa") rate, thereby increasing annual gold production, if, as expected, a larger open-pit resource is confirmed by the current exploration and in-fill drilling. Results of these studies are projected to be available by year-end 2018

Click here for Fekola Exploration & Development section

Health, Safety & Environment: 

  • Safety performance: As at June 30, 2018, achieved 2.2 years (785 days) without a Lost-Time-Injury
  • Click here for B2Gold's 2017 Responsible Mining Report, Raising the Bar

Click here for Fekola Mine overview

Mine/Project Location Map:

Mine Overview (as at June 30, 2018):

Q2 2018 Production, Cash Costs, Revenue & Sales:
Q2 2018 gold production 112,644 oz
Q2 2018 cash operating costs $318 /oz
Q2 2018 AISC $445 /oz
Q2 2018 gold revenue $129,902
Q2 2018 gold sales 100,100 oz
Q2 2018 average realized gold price $1,298 /oz
FH 2018 Production, Cash Costs, Revenue & Sales:
FH 2018 gold production 226,786 oz
FH 2018 cash operating costs $293 /oz
FH 2018 AISC $466 /oz
FH 2018 gold revenue $293,182
FH 2018 gold sales 222,700 oz
FH 2018 average realized gold price $1,316 /oz
Q2 2018 Processing:
Q2 2018 tonnes of ore milled 1.33 M
Q2 2018 grade 2.77 g/t
Q2 2018 recovery 95.3%
FH 2018 Processing:
FH 2018 tonnes of ore milled 2.65 M
FH 2018 grade 2.80 g/t
FH2018 recovery 95.1%
2018 Guidance:
2018 E gold production 420 Koz-430 Koz
2018 E cash operating costs $345-$390 /oz
2018 E AISC $575-$625 /oz
2018 E tonnes of ore milled (budget) 5.00 M (average)
2018 E grade (budget) 2.69 g/t (average)
2018 E recovery (budget) 92.7% (average)
2018 exploration budget $19 M
2019 Guidance:
2019 E gold production(2) 415 Koz-425 Koz
General Information:
Location Mali
Mine type Open pit
Metals mined Gold
Ownership(4) 80%
Processing plant Cyanide leach/Carbon-in-pulp process
Power Heavy fuel oil power plant with diesel powered back-up (100% self-generated)
Number of employees (not including contractors) 1,687
Local employee workforce 96%
Mineral Reserve & Resource Estimates (Contained Gold):
Probable Mineral Reserves (80% attributable)(5) 2.92 Moz
Indicated Mineral Resources (80% attributable)(5) 3.95 Moz
Inferred Mineral Resources: Fekola (80% attributable)(5) 0.23 Moz
Inferred Mineral Resources: Anaconda (80% attributable)(5) 0.65 Moz

On September 25, 2017, B2Gold announced that it had completed a new life of mine ("LoM") plan for Fekola, which confirmed the original reserve and resource described in the Fekola Project’s optimized feasibility study (“OFS”), released on June 11, 2015(6); optimized the production profile: and increased the mill throughput from 4 to 5 Mtpa(7):

Parameters(1)
(Based on a 100% basis)(2)
OFS(3) – 4 Mtpa
(June 2015)
New LoM(4) – 5 Mtpa
(September 2017)
LoM (years) 12.5 10
Gold production: LoM (Koz) 276 345
Gold production: Years 1-3 (Koz) 333 400
Gold production: Years: 1-7 (Koz) 350 374
Cash operating costs: LoM (US$/oz) 552 428
Cash operating costs: Years 1-3 (US$/oz) 464 357
Cash operating costs: Years 1-7 (US$/oz) 418 391
AISC: LoM (US$/oz) 752 664
AISC: Years 1-3 (US$/oz) 717 604
AISC: Years 1-7 (US$/oz) 661 643
Footnotes to OFS v LoM table (Click to expand)
  1. Gold production, cash operating costs and AISC are presented on an average annual basis
  2. B2Gold anticipates that the ownership interest of Fekola S.A. will be adjusted from 90% to 80% and 10% to 20% for B2Gold and the State of Mali, respectively, and as a result, the attributable basis under which Mineral Reserves and Mineral Resources are presented in this table is subject to change. Please see the Company’s Q2 2018 Management Discussion & Analysis for further information regarding this anticipated ownership interest change - click here.
  3. Refer to the technical report entitled “NI 43-101 Technical Report Feasibility Study on the Fekola Gold Project in Mali” (click here) that has an effective date of June 30, 2015, and was prepared by Tom Garagan, P.Geo, William Lytle, P.E, Peter Montano, P.E., Ken Jones, P.E., Sandra Hunter, MAusIMM(CP), and David J. T. Morgan, MIEAust CPEng.
  4. Please refer to 'B2Gold Corp. Completes Mill Construction More Than Three Months Ahead of Schedule and Announces an Expanded and Updated Mine Plan for the Fekola Mine Located in Southwestern Mali' news release dated September 25, 2017 - click here.

Supporting Documents:

For the latest details and news releases pertaining to the Fekola Mine:

  • Click here for 'B2Gold Reports Positive Second Quarter & First-Half 2018 Results; Strong Growth in Gold Production/Revenues and Operating Cash Flows; Significant Beat Against Budget for Cash Operating Costs and AISC' news release, dated August 7, 2018
  • Click here for 'B2Gold Announces an Increased Exploration Budget at the Fekola North Extension Zone, Mali; and Updates on El Limon and La Libertad Mines, Nicaragua' news release, dated June 28, 2018
  • Click here for 'B2Gold Announces Positive Exploration Drill Results from Fekola North Extension Zone and Resource Infill Drilling' news release, dated April 18, 2018
  • Click here for 'B2Gold Responds to News Regarding New Mali Mining Code' news release, dated March 20, 2018

For a more detailed overview of the Fekola Mine, please refer to the following, most recent company documents:

  • Click here for Q2 2018 Management’s Discussion & Analysis ("MD&A")(8)
  • Click here for Q2 2018 Financial Statements(8)
  • Click here for Annual Information Form ("AIF") 2018, dated March 23, 2018(8)
Footnotes (Click to expand)
  1. The disclosure contains forward-looking statements. Refer to the Legal section of the website (click here) for caution regarding forward-looking statements and the basis for presentation of mineral reserves, mineral resources and other technical disclosures.
  2. B2Gold’s Q2 2018 and FH 2018 gold production results, and 2018 and 2019 annual gold production guidance are presented on a 100% basis.
  3. Refer to “Non-IFRS measures” in the Company’s most recently filed MD&A. Click here for MD&A.
  4. Final Fekola ownership is expected to be 80% held by B2Gold and 20% held by the State of Mali - click here for 'B2Gold Reports Strong First Quarter 2018 Results; Significant Beat Against Budget for Cash Operating Costs and AISC and Dramatic Increase in Cash Flows from Operating Activities to $147 Million' news release, dated May 9, 2018.
  5. Refer to respective footnotes in Summary of Mineral Reserve and Mineral Resource Estimates  - click here and see 'Mineral Resource & Mineral Reserve Estimates' section below.
  6. Refer to the technical report entitled “NI 43-101 Technical Report Feasibility Study on the Fekola Gold Project in Mali” (click here) that has an effective date of June 30, 2015, and was prepared by Tom Garagan, P.Geo, William Lytle, P.E, Peter Montano, P.E., Ken Jones, P.E., Sandra Hunter, MAusIMM(CP), and David J. T. Morgan, MIEAust CPEng.
  7. Please refer to 'B2Gold Corp. Completes Mill Construction More Than Three Months Ahead of Schedule and Announces an Expanded and Updated Mine Plan for the Fekola Mine Located in Southwestern Mali' news release dated September 25, 2017 - click here..
  8. Also available on SEDAR and at www.sedar.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov.

Certain portions of the information provided herein are derived from and based on the technical report entitled “NI 43-101 Technical Report Feasibility Study on the Fekola Gold Project in Mali” (click here) that has an effective date of June 30, 2015, and was prepared by Tom Garagan, P.Geo, William Lytle, P.E, Peter Montano, P.E., Ken Jones, P.E., Sandra Hunter, MAusIMM(CP), and David J. T. Morgan, MIEAust CPEng, and from our most recent AIF – click here for AIF, dated March 23, 2018, and are based on the assumptions, qualifications and procedures set out therein. 

Mineral Resource & Mineral Reserve Estimates:

Fekola Probable Mineral Reserves Statement:

Area Tonnes
(t)
Gold Grade
(g/t Au)
Contained Gold
Ounces (oz)
Contained Gold
Kilograms (kg)
Open Pit 36,100,000 2.32 2,687,000 83,600
Stockpiles 2,550,000 2.79 229,000 7,100
Total Probable 38,660,000 2.35 2,917,000 90,700
Footnotes (Click to expand)
  1. Mineral Reserves have been classified using the Canadian Institute of Mining (“CIM”) Standards (refer to the Company's AIF, dated March 23, 2018 (click here for additional information regarding these Mineral Reserves)).
  2. All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes, grade, and contained metal content.
  3. Mineral Reserves are reported on an 80% attributable basis; B2Gold expects that the State of Mali will hold a 20% interest in the Fekola Mine. For further details of B2Gold’s interest in the Fekola Mine, see the heading “Material Properties – Fekola Mine – Property Description, Location and Access” in the Company's AIF, dated March 23, 2018.
  4. The Qualified Person for the reserve estimate is Peter D. Montano, P.E., who is B2Gold’s Project Director. 
  5. Mineral Reserves are based on a conventional open-pit mining method, gold price of US$1,250/oz, metallurgical recovery of 93%, and average operating cost estimates of US$2.65/t mined (mining), US$15.81/t processed (processing) and US$3.13/t processed (general and administrative). 
  6. Reserve model dilution and ore loss was applied through whole block averaging such that at a 0.8 g/t Au cutoff there is a 2.8% increase in tonnes, a 3.1% reduction in grade and 0.5% reduction in ounces when compared to the Mineral Resource model.  An additional 5% dilution and 2% ore loss was applied during pit optimization and scheduling. 
  7. Mineral Reserves are reported above a cutoff grade of 0.8 g/t Au.

Fekola Indicated Mineral Resources Statement:

Area Tonnes
(t)
Gold Grade
(g/t Au)
Contained Gold
Ounces (oz)
Contained Gold
Kilograms (kg)
Fekola 56,610,000 2.04 3,719,000 115,700
ROM Stockpiles 2,550,000 2.79 229,000 7,100
Total Indicated 59,170,000 2.08 3,948,000 122,800

Fekola and Anaconda Inferred Mineral Resources Statement:

Area Tonnes
(t)
Gold Grade
(g/t Au)
Contained Gold
Ounces (oz)
Contained Gold
Kilograms (kg)
Fekola 4,190,000 1.69 227,000 7,100
Anaconda 18,350,000 1.11 652,000 20,300
Total Inferred 22,530,000 1.22 879,000 27,300
Footnotes (Click to expand)
  1. Mineral Resources have been classified using the CIM Standards (refer to the Company's AIF, dated March 23, 2018 (click here for additional information regarding these Mineral Resources)). Mineral Resources are reported inclusive of those Mineral Resources that have been modified to Mineral Reserves. Mineral Resources that are not Mineral Reserves do not have demonstrated economic viability. 
  2. All tonnage, grade and contained metal content estimates have been rounded; rounding may result in apparent summation differences between tonnes, grade, and contained metal content.
  3. For Fekola, Mineral Resources are reported on an 80% attributable basis; B2Gold expects that the State of Mali will hold a 20% interest in the Fekola Mine. For further details of B2Gold’s interest in the Fekola Mine, see the heading “Material Properties – Fekola Mine – Property Description, Location and Access” in the Company's AIF, dated March 23, 2018.
  4. For Anaconda, Mineral Resources are reported on an 85% attributable basis; under the Mali Mining Code (2012), the State of Mali has the right to a 10% free carried interest and has an option to acquire an additional 10% participating interest, and 5% is held by a third party.
  5. The Qualified Person for the resource estimate is Tom Garagan, P.Geo., who is B2Gold’s Senior Vice President, Exploration.
  6. The Qualified Person for the stockpile estimate is Peter Montano, P.E., who is B2Gold’s Project Director.
  7. Mineral Resource estimates for Fekola and Anaconda assume an open-pit mining method and a gold price of US$1,400/oz. For Fekola, a metallurgical recovery of 93%, and average operating cost estimates of US$2.65/t mined (mining), US$15.81/t processed (processing) and US$3.13/t processed (general and administrative) were used for pit shell generation. For Anaconda, a metallurgical recovery of 95%, and average operating cost estimates of US$1.75/t mined (mining), US$8.10/t processed (processing) and US$2.75/t processed (general and administrative) were used for pit shell generation.
  8. Mineral Resources are reported at a cutoff of 0.6 g/t Au for Fekola and at a cutoff of 0.35 g/t Au for Anaconda.

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