B2Gold has secured the Menankoto exploitation permit for the Fekola Regional project from the State of Mali.
The permit, obtained by B2Gold’s Malian subsidiary, forms part of the Fekola Regional area together with the Dandoko exploration permit.
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These permits are important for near-term production growth, said the company.
The Fekola Complex consists of the Fekola Mine and the Fekola Regional area. B2Gold holds an 80% stake in the Fekola Mine, while the State of Mali owns the remaining 20%.
This mine includes both the Fekola and Cardinal open pits as well as underground operations within the Medinandi permit.
Fekola Regional, which is made up of the Menankoto exploitation permit and the Dandoko permit, will be 65% owned by B2Gold and 35% by the State of Mali. This area is situated about 20km from the Fekola Mine.
The award of the Menankoto exploitation permit follows a period of discussions between the company and Malian authorities, which began in July 2025.
The talks also led to approval for underground mining operations at the Fekola Mine earlier during the same period.
Under the agreement, the Menankoto exploitation permit is governed by the 2023 Mining Code, whereas the Fekola Mine continues to operate under the 2012 Mining Code.
B2Gold president and CEO Mike Cinnamond said: “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.”
Following the grant of the Menankoto exploitation permit, B2Gold plans to begin mining pre-stripping operations and complete a tolling agreement.
The company has indicated that activities at Fekola Regional are expected to expand through to the end of 2027, with forecasts for annual production to surpass 150,000 ounces from 2028 into the mid-2030s.
