B2Gold Corp

TSX:BTOLive AI agent

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada.

About

B2Gold is a responsible international gold producer headquartered in Vancouver, Canada. Founded in 2007, today, B2Gold has operating gold mines in Canada, Mali, Namibia and the Philippines, and numerous development and exploration projects in various countries. The company's vision is to demonstrate leadership in responsible mining by exceeding industry standards and maintaining principles of fairness, respect, transparency, and accountability across its global operations.

Verified company data

Mineral resource: Probable Mineral Reserves Statement | | | 100% Project Basis | Attributable Ownership Basis | | --- | --- | --- | --- | | Country | Mine, Project or Project | Tonnes (x 1,000) | Gold Grade (g/t Au) | Contained Gold Ounces (x 1,000) | Attributable (%) | Contained Gold Ounces (x 1,000) | | --- | --- | --- | --- | --- | --- | --- | | Mali | Fekola Mine (including Fekola Open Pit, Cardinal Zone, FNE Zone, Fekola Underground and stockpiles) | 33,800 | 1.68 | 1,830 | 80 | 1,460 | | | Fekola Regional | 13,800 | 1.97 | 880 | 90 | 790 | | | Total Fekola Complex | 47,700 | 1.76 | 2,700 | | 2,250 | | Canada | Goose Mine | 10,900 | 6.79 | 2,380 | 100 | 2,380 | | Philippines | Masbate Gold Project | 62,900 | 0.72 | 1,460 | 100 | 1,460 | | Namibia | Otjikoto Stockpiles and Wolfshag Underground | 1,200 | 2.33 | 90 | 90 | 80 | | Colombia | Gramalote Project | 76,700 | 0.96 | 2,360 | 100 | 2,360 | | **Total Probable Mineral Reserves (includes stockpiles)** | 8,990 | | 8,530 | Notes 01. Mineral Reserves are reported at the point of delivery to the process plant, and have been classified using the CIM Standards. 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. 02. The Mineral Reserves from the Fekola Open Pit, Cardinal Zone, FNE Zone, and stockpiles have an effective date of December 31, 2025. The Mineral Reserves from the Anaconda and Dandoko Areas have an effective date of December 31, 2024. The Qualified Person is Peter Montano, P.E., our Vice President, Projects. 03. The Mineral Reserves from Fekola Underground have an effective date of December 31, 2025\. The Qualified Person is Michael Meyers, P.Eng., our Director, Project Development. 04. Mineral Reserves are reported on a 100% basis. B2Gold holds an 80% attributable interest in the Fekola Open Pit, Cardinal Zone, FNE Zone, Fekola Underground, and stockpiles; the remaining 20% interest in these areas is held by the State of Mali. B2Gold holds a 90% attributable interest in Fekola Regional, and the remaining 10% interest in these areas is held by the State of Mali. Under the 2023 Mining Code, the State’s initial interest in Fekola Regional is maintained at 10%, but the State may acquire up to an additional 20% interest, and a further 5% interest must be available to be acquired by a local Malian stakeholder. 05. Fekola Open Pit: Mineral Reserves are based on a conventional open pit mining method, gold price of $2,000/oz, metallurgical recovery of 92%, selling costs of $274.57/oz including royalties, mining cost at surface elevation of $2.86/t mined, average processing cost of $16.06/t processed, and site general costs of $10.34/t processed. For Mineral Reserve reporting, the model with 2.5 x 5 x 2.5 m blocks (Resource model) were regularized to 5 x 20 x 10 m blocks. For Indicated blocks, within the 2025 resource pit, above a cut-off of 0.65 g/t Au, the large block regularized model compared to the regularized resource model is +6.7% on tonnage, -6.4% on grade and -0.1% on contained gold. No additional dilution or ore loss has been applied for final reserve reporting. Mineral Reserves are reported above a cut-off grade of 0.65 g/t Au. 06. Cardinal Zone: Mineral Reserves are based on a conventional open pit mining method, gold price of $2,000/oz, metallurgical recovery of 92–94% by rock type, selling costs of $274.57/oz including royalties, mining costs ranging from $2.15/t mined for saprolite to $2.82 for fresh rock at surface elevation, processing costs ranging from $10.97/t processed for saprolite to $16.06/t processed for fresh rock, and site general costs of $0.44/t processed. For Mineral Reserve reporting, a 1.0 x 0.5 x 0.5 m rind of edge dilution was applied at each mineralization zone contact in the regularized model. For Indicated blocks, within the 2024 resource pit, at a cut-off of 0.65 g/t Au, the regularized model with edge dilution compared to the regularized model is +8.7% on tonnage, -10.6% on grade and -2.7% on contained gold. No additional dilution or ore loss has been applied for final reserve reporting. Mineral Reserves are reported above a cut-off grade of 0.65 g/t Au. 07. FNE Zone: Mineral Reserves are based on a conventional open pit mining method, gold price of $2,000/oz, metallurgical recovery of 92–94% by rock type, selling costs of $274.57/oz including royalties, mining costs ranging from $2.15/t mined for saprolite to $2.82 for fresh rock at surface elevation, processing costs ranging from $10.97/t processed for saprolite to $16.06/t processed for fresh rock, and site general costs of $0.44/t processed. For Mineral Reserve reporting, a 0.5 x 0.5 x 0.5 m rind of edge dilution was applied at each mineralization zone contact in the regularized model. For Indicated blocks, within the 2025 resource pit, at a cut-off of 0.65 g/t Au, the regularized model with edge dilution compared to the regularized model is +11% on tonnage, -12% on grade and -2% on contained gold. No additional dilution or ore loss has been applied for final reserve reporting. Mineral Reserves are reported above a cut-off grade of 0.65 g/t Au. 08. Fekola Underground: Mineral Reserves will be mined by underground methods assuming a mix of transverse and longitudinal longhole stoping mining methods, gold price of $2,000/oz, metallurgical recovery of 92%, selling costs of $274.57/oz including royalties and levies, average mining cost of $99.45/t mined, average processing cost of $16.06/t processed, site general costs of $2.59/t processed, 8% dilution, and 95% mining recovery. Mineral Reserves that will be mined by underground methods are reported above a cut-off grade of 2.35 g/t Au. 09. Anaconda Area: Mineral Reserves are based on a conventional open pit mining method, gold price of $1,750/oz, metallurgical recovery of 93–94% by rock type, selling costs of $273.37/oz including royalties and tolling charges, mining costs ranging from $2.91/t mined for saprolite to $3.41 for fresh rock at surface elevation, processing costs ranging from $14.60/t processed for saprolite to $20.40/t processed for fresh rock that includes haulage cost to the Fekola mill, and site general costs of $1.89/t processed. For Mineral Reserve reporting, a 1.0 x 1.0 x 0.5 m (X, Y, Z) rind of edge dilution was applied at each mineralization zone contact in the regularized model. For Indicated blocks, within the June 2023 conceptual resource pit, at cut-offs of 0.40 g/t Au for weathered material and 0.60 g/t Au for fresh, the regularized model with edge dilution compared to the regularized (Resource) model is +2.9% on tonnage, -4.9% on grade and -2.2% on contained gold. Mineral Reserves are reported above a cut-off grade of 0.65 g/t Au for sulphides and 0.50 g/t Au for oxides. 10. Dandoko Area: Mineral Reserves are based on a conventional open pit mining method, gold price of $1,750/oz, metallurgical recovery of 76–94% by rock type, selling costs of $322.09/oz including royalties and tolling charges, mining costs ranging from $1.95/t mined for saprolite to $2.45 for fresh rock at surface elevation, processing costs ranging from $15.66/t processed for saprolite to $21.37/t processed for fresh rock that includes haulage cost to the Fekola mill, and site general costs of $0.94/t processed. For Mineral Reserve reporting, the sub-cell models were regularized to a block size of 5 x 10 x 3.3333 m for SK1, and 5 x 10 x 10 m for SK2 and SK3 to account for dilution expected during mining. For Indicated plus Inferred blocks, within the February 2023 conceptual pit, at a cut-off of 0.30 g/t Au, the regularized model compared to the sub-cell model is +1% on tonnage, -4% on grade and -3% on contained gold. At a cut-off of 0.65 g/t Au, the regularized model compared to the sub-cell model is +11% on tonnage, -12% on grade and -1% on contained gold. Mineral Reserves are reported above a cut-off grade of 0.65 g/t Au for sulphides and 0.50 g/t Au for oxides. 11. Mineral Reserves from the Fekola Open Pit, Cardinal Zone, FNE Zone, and stockpiles are reported above a cut-off grade of 0.65 g/t Au. Mineral Reserves from Fekola Underground are reported above a cut-off grade of 2.35 g/t Au. Mineral Reserves from Fekola Regional are reported above a cut-off grade of 0.65 g/t Au for sulphide ore, and above a cut-off of 0.50 g/t Au for oxide ore. 12. Goose Mine: Mineral Reserves have an effective date of December 31, 2025. Mineral Reserves are reported on a 100% project basis. The Qualified Person for the Open Pit and stockpile Mineral Reserve estimate is Peter Montano, P.E., our Vice President, Projects. The Qualified Person for the Underground Mineral Reserve estimate is Michael Meyers, P.Eng., our Director, Project Development. Mineral Reserves from open pit mine methods and stockpiles are based on a conventional open pit mining method, gold price of $1,750/oz, metallurgical recovery of 92.5%, selling costs of $90.00/oz including royalties and levies, average mining cost of $4.92/t mined at surface, average processing cost of $41.08/t processed, and site general costs of $66.95/t processed. Reserve model dilution and ore loss were applied through whole block averaging such that at a 1.65 g/t Au cut-off, for all pits combined there is a 32% increase in tonnes, a 25% reduction in grade, and a 1% reduction in ounces when compared to the Mineral Resource model. Mineral Reserves that will be mined by open pit methods or are in stockpiles are reported above a cut-off grade of 1.65 g/t Au. Mineral Reserves that will be mined by underground methods assume longhole stoping mining methods, gold price of $1,750/oz, metallurgical recovery of 92.5%, selling costs of $90.00/oz including royalties and levies, average mining cost of $120.13/t ore mined, average processing cost of $41.08/t processed, site general costs of $66.95/t processed, dilution % variable by stoping area, and 90% mining recovery. Mineral Reserves that will be mined by underground methods are reported above a cut-off grade of 4.64 g/t Au. 13. Masbate Gold Project: Mineral Reserves are reported on a 100% project and attributable basis. Pursuant to the ore sales and purchase agreement between Filminera and PGPRC, our wholly owned subsidiary, PGPRC has the right to purchase all ore from Filminera. B2Gold has a 40% interest in Filminera, which owns the mineral tenements, and the remaining 60% is owned by a Philippines-registered company, Zoom Mineral Holdings Inc. (“Zoom”). Please see “Material Properties – Masbate Gold Project” below for a further discussion of the foregoing. Masbate Mineral Reserves have an effective date of December 31, 2025 and the Qualified Person is Peter Montano, P.E., our Vice President, Projects. Mineral Reserves are based on a conventional open pit mining method, gold price of $2,000/oz, modeled metallurgical recovery (resulting in average LoM metallurgical recoveries by pit that range from 69% to 88%), and average base operating cost estimates of $1.90–$2.39/t mined (mining), $14.49/t processed (processing) and $2.36–$3.82/t processed (site general) and $85.27/oz selling cost including freight and excise tax. Reserve model dilution and ore loss were applied through whole block averaging such that at a 0.45 g/t Au cut-off there is a 5.1% increase in tonnes, a 5.9% reduction in grade, and a 1.2% reduction in ounces when compared to the Mineral Resource model. Mineral Reserves are reported at an assay cut-off grade of 0.46 g/t Au. 14. Otjikoto Mine: Mineral Reserves are reported on a 100% project and a 90% attributable basis, the remaining 10% interest is held by EVI Mining (Proprietary) Ltd. (“EVI”), a Namibian empowerment company. The Otjikoto Mine Mineral Reserves within Wolfshag Underground and ROM Stockpiles have an effective date of December 31, 2025. The Qualified Person for the ROM Stockpile Mineral Reserve estimate is Peter Montano, P.E., our Vice President, Projects. The Qualified Person for the Wolfshag Underground Reserve estimate is Michael Meyers, P.Eng., our Director, Project Development. Mineral Reserves from stockpiles are based on a gold price of $2,000/oz, metallurgical recovery of 98%, selling costs of $83.65/oz including royalties and levies, average processing cost of $14.73/t processed, and site general costs of $3.61/t processed. Mineral Reserves in stockpiles are reported above a cut-off grade of 0.45 g/t Au. Mineral Reserves that will be mined by underground methods assume a modified transverse longhole stoping mining method, gold price of $2,000/oz, metallurgical recovery of 98%, selling costs of $83.65/oz including royalties and levies, average mining cost of $90.54/t ore mined, average processing cost of $14.00/t processed, site general costs of $5.14/t processed, 22% dilution, and 90% mining recovery. Mineral Reserves that will be mined by underground methods are reported above a cut-off grade of 1.82 g/t Au. 15. Gramalote Project: Mineral Reserves have an effective date of April 1, 2025. Mineral Reserves are reported on a 100% project basis. The Qualified Person for the Mineral Reserve estimate is Mr. Peter Montano, P.E., our Vice President, Projects. Mineral Reserves are based on a conventional open pit mining method, gold price of $1,750/oz, metallurgical recovery averaging 95.6%, selling costs of $60.00/oz including royalties, average mining cost of $2.70/t mined, average processing cost of $8.50/t processed, and average site general costs of $3.80/t processed. Reserve model dilution and ore loss was applied through whole block averaging such that at a 0.40 g/t Au cut-off there is a 1.2% increase in tonnes, a 4.6% reduction in grade, and 3.5% reduction in ounces when compared to the Mineral Resource model. Mineral Reserves are reported above a cut-off grade of 0.40 g/t Au.
Projects: ["Masbate Gold Project\n\nOwnership\n\n40%\n\nLocation\n\nPhilippines\n\nStatus\n\nOperating\n\nMine Type\n\nOpen Pit\n\nMetals Mined\n\nGold","Otjikoto Mine\n\nOwnership\n\n90%\n\nLocation\n\nNamibia\n\nStatus\n\nOperating\n\nMine Type\n\nOpen Pit / Underground\n\nMetals Mined\n\nGold","Fekola Complex\n\nOwnership\n\n80%\n\nLocation\n\nSouthwest Mali\n\nStatus\n\nOperating\n\nMine Type\n\nOpen Pit\n\nMetals Mined\n\nGold","Fekola Mine\n\nOwnership\n\n80%\n\nLocation\n\nSouthwest Mali\n\nStatus\n\nOperating\n\nMine Type\n\nOpen Pit\n\nMetals Mined\n\nGold","Gramalote Project\n\nOwnership\n\n100%\n\nLocation\n\nColombia\n\nStatus\n\nDevelopment\n\nMine Type\n\nOpen Pit\n\nMetals Mined\n\nGold","Goose Mine\n\nOwnership\n\n100%\n\nLocation\n\nCanada\n\nStatus\n\nOperating\n\nMine Type\n\nOpen Pit / Underground\n\nMetals Mined\n\nGold","Back River\n\nOwnership\n\n100%\n\nLocation\n\nCanada\n\nStatus\n\nDevelopment\n\nMine Type\n\nOpen Pit / Underground\n\nMetals Mined\n\nGold"]
Leadership: Mike Cinnamond (President, Chief Executive Officer & Director, Mr. Cinnamond became President and Chief Executive Officer on June 4, 2026, overseeing B2Gold’s long-term strategy and development. He has over 25 years of experience in the mining industry and served as Senior Vice President of Finance and Chief Financial Officer.), Michael McDonald (Senior Vice President & Chief Financial Officer, Michael McDonald has more than 15 years of experience in capital markets and previously served as Vice President, Corporate Development & Investor Relations at Gold Standard Ventures.), William Lytle (Senior Vice President & Chief Operating Officer, Bill manages all mining and engineering operational activities and has been with B2Gold since its inception, overseeing significant projects and operations.), Randall Chatwin (Senior Vice President, Strategy & Chief Legal Officer, Randall has over 15 years of experience in the mining industry and was previously Vice President, Assistant General Counsel at Goldcorp Inc.), Victor King (Senior Vice President, Exploration, Mr. King has over 30 years of experience in exploration and development in the gold mining industry, joining B2Gold in 2013.), Dennis Stansbury (Senior Vice President, Engineering & Project Evaluations, Dennis has over 40 years of experience in mining engineering and has been with B2Gold since 2007.), Jacqlin Anthony (Vice President, General Counsel, Jacqlin has over 15 years of experience in the mining industry and was previously General Counsel at Equinox Gold Corp.), Eduard Bartz (Vice President, Taxation & External Reporting, Eduard has approximately 20 years of experience in the mining industry and is a Chartered Accountant.), Andrew Brown (Vice President, Exploration, Andrew has over 25 years of experience in the mining industry and was appointed Chief Geologist, West Africa in 2014.), Rebecca Henare (Vice President, Investor Relations and Corporate Development, Rebecca has 15 years of experience in the precious metals industry and was previously Vice President, Investor Relations at OceanaGold Corporation.), Ken Jones (Vice President, Sustainability, Ken has over 20 years of experience in environmental and sustainability leadership within the mining sector.), Ninette Kröhnert (Vice President, Human Resources, Ninette has been with B2Gold since 2013 and has held various HR roles.), Peter D. Montano (Vice President, Operations and Project Development, Mr. Montano has over 15 years of experience in mining engineering and has been instrumental in the development of B2Gold’s mines.), Dan Moore (Vice President, Operations, Daniel has over 30 years of gold mining experience and has been with B2Gold since 2017.), John Rajala (Vice President, Metallurgy, John has over 30 years of experience in precious metals operations and process development.), Neil Reeder (Vice President, Government Relations, Neil has over 35 years of government experience and served as Canada’s Ambassador to the Philippines.

Verified data last updated: 2026-08-28

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