Projects

La Libertad Mine – Nicaragua (1)

This page is currently being updated. For the most recent company information:

Click here for B2Gold’s Q2 & FH 2019 Earnings news release
Click here for B2Gold’s Q2 & FH 2019 Management Discussion & Analysis
Click here for B2Gold’s Q2 & FH 2019 Financial Statements

La Libertad Mine is located in La Libertad-Santo Domingo Region in Central Nicaragua, approximately 110 km due east of the country's capital city, Managua. Click here for mine/project location map. 

B2Gold acquired its first gold development project, La Libertad Gold Project, through a merger with Central Sun Mining Inc. in March 2009. Previously a heap-leach mine, operations at La Libertad Mine were suspended in 2007 as a re-evaluation of the project indicated that gold recoveries could be greatly improved using a conventional milling operation. Following construction of a SAG and ball mill grinding circuit, as well as carbon-in-pulp recovery tanks and a tailings impoundment, La Libertad Mine was reopened by B2Gold and achieved commercial production on February 1, 2010, on schedule. Click here for La Libertad Mine overview

Recent Updates:

Full-Year ("FY") 2018 Performance Snapshot:

  • Gold production(2) was 80,963 oz
  • Cash operating costs(3) were $934 /oz
  • All-in sustaining costs ("AISC")(3) were $1,192 /oz

First Quarter ("Q1") 2019 Performance Snapshot:

  • Gold production(2) was 18,086 oz
  • Cash operating costs were $1,295 /oz
  • AISC were $1,647 /oz

2019 Guidance:

  • Gold production(2) is expected to be between 95 Koz - 100 Koz
  • Cash operating costs are expected to be between $840 - $880 /oz 
  • AISC are expected to be between $1,150 - $1,190 /oz

Click here for Q1 2019 Earnings news release, dated May 7, 2019
Click here for Q4 & FY 2018 Earnings news release, dated March 12, 2019

Health, Safety & Environment:

  • La Libertad Mine has reduced its lost-time injury frequency rate by over 90% in the last two years (as at December 31, 2018)
  • Click here for B2Gold's 2018 Responsible Mining Report, Raising the Bar

B2Gold and Calibre Mining Join Forces in Nicaragua:

On July 2, 2019, B2Gold and Calibre Mining Corp. entered into a binding agreement for B2Gold to restructure its interests in, and for Calibre to acquire, El Limon and La Libertad mines, the Pavon Project and additional mineral concessions in Nicaragua held by B2Gold for aggregate consideration of US$100 million, which will be paid with a combination of cash, common shares and a convertible debenture. Following the completion of the transaction, B2Gold will own an approximate 31% direct equity interest in Calibre, becoming the company's largest shareholder.

Click here for B2Gold and Calibre Mining Join Forces in Nicaragua news release, dated July 2, 2019

Click here for La Libertad Mine overview

Mine/Project Location Map:

Mine Overview (as at March 31, 2019):

FY 2018 Production, Cash Costs, Revenue & Sales: 
FY 2018 gold production 80,963 oz
FY 2018 cash operating costs $934 /oz
FY 2018 AISC $1,192 /oz
FY 2018 gold revenue $105,151
FY 2018 gold sales 83,018 oz
FY 2018 average realized gold price $1,267 /oz
Q1 2019 Production, Cash Costs, Revenue & Sales:
Q1 2019 gold production 18,086 oz
Q1 2019 cash operating costs $1,295/oz
Q1 2019 AISC $1,647/oz
Q1 2019 gold revenue $22,709
Q1 2019 gold sales 17,272 oz
Q1 2019 average realized gold price $1,315 /oz
FY 2018 Processing:  
FY 2018 tonnes of ore milled 2.25 M
FY 2018 grade 1.19 g/t
FY 2018 recovery 94.4%
Q1 2019 Processing:
Q1 2019 tonnes of ore milled 0.57 M
Q1 2019 grade 1.04 g/t
Q1 2019 recovery 95.4%
2019 Guidance:  
2019 E gold production 95 Koz - 100 Koz
2019 E cash operating costs $840 - $880 /oz
2019 E AISC $1,150 - $1,190 /oz
2019 E tonnes of ore milled (budget) 2.3 M
2019 E grade (budget) 1.42 g/t (average)
2019 E recovery (budget) 94%
2019 exploration budget $3 M
General Information: 
Location Nicaragua
Mine type Open pit/underground
Metals mined Gold
Ownership 100%
Processing plant Cyanide leach/Carbon-in-pulp process
Power Purchased from the grid with diesel powered back-up
Total number of employees: Nicaragua(4) 1,093
Local employee workforce: Nicaragua(4) 98.3%
Mineral Reserve & Resource Estimates (Contained Gold) – 100% Project Basis: 
Probable Mineral Reserves(5) 0.07 Moz
Indicated Mineral Resources(5) 0.17 Moz
Inferred Mineral Resources(5) 0.45 Moz

Supporting Documents:

For the latest details and news release pertaining to La Libertad Mine:

  • Click here for 'B2Gold and Calibre Mining Join Forces in Nicaragua - Calibre Mining to Acquire El Limon and La Libertad Gold Mines - B2Gold to Become Calibre's Largest Shareholder' news release, dated July 2, 2019
  • Click here for 'B2Gold Reports Strong First Quarter 2019 Results; Quarterly Gold Production of 231,000 oz, 6% Above Budget; AISC of $848/oz sold, significantly below budget by $133/oz' news release, dated May 7, 2019
  • Click here for 'B2Gold Reports Positive 2018 Fourth Quarter/Annual Results; Record Annual Gold Production of 953,504 Oz, Revenue of $1.2 B & Operating Cash Flows of $451 M ($0.46/share); Cash Operating Costs of $495/oz & AISC of $758/oz' news release, dated March 12, 2019

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

  • Click here for Q1 2019 Management’s Discussion & Analysis ("MD&A")(6)
  • Click here for Q1 2019 Financial Statements(6)
  • Click here for Annual Information Form ("AIF") 2019, dated March 20, 2019(6)
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 FY 2018 and Q1 2019 production results and 2019 annual 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.
  4. As at December 31, 2018. Refer to pages 51 - 54 in the Company's 'Responsible Mining Report 2018 – Raising the Bar' (click here), dated June 14, 2019. 
  5. Refer to respective footnotes in Summary of Mineral Reserve and Mineral Resource Estimates - click here for information regarding the categories, grade and tonnage of these Mineral Reserves and Mineral Resources, and other related information.
  6. Also available on SEDAR at www.sedar.com and on the U.S. Securities and Exchange Commission’s website at www.sec.gov.

Certain portions of the following information are derived from on the Company's most recent AIF, dated March 20, 2019 (click here), and are based on the assumptions, qualifications and procedures set out therein.

Mineral Resource & Mineral Reserve Estimates:

Click here for Summary of Mineral Resource and Mineral Reserve Estimates

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