B2Gold has received approval from the Malian government to commence underground mining activities at its Fekola Mine, located in southwest Mali.
According to the Canadian mining company, this development marks a significant step as it aims to boost production at the Fekola Complex. The underground operations, which include stope ore production, are expected to considerably enhance the gold mine’s output.
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The Fekola Complex is situated near the Senegal border. It comprises the Fekola Mine and Fekola Regional asset.
The Fekola Mine includes the Medinandi permit with the Fekola and Cardinal open pits and the Fekola underground. Fekola Regional consists of the Anaconda Area, which includes the consolidated Menankoto permit and the Dandoko permit.
B2Gold holds an 80% stake in the Fekola Mine and 65% in Fekola Regional, while the State of Mali owns the remaining shares.
The latest approval allows B2Gold to proceed with ore extraction activities underground, complementing its existing open-pit operations.
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By GlobalDataIt follows discussions of B2Gold executives with Malian officials, including Prime Minister Abdoulaye Maïga and others, to confirm their commitment to the governance agreement established in September 2024 for the Fekola Complex.
The talks, which were held last week, also addressed future plans for Fekola Regional, with focus on its potential contribution to both short-term and long-term operations.
In anticipation of this approval, B2Gold engaged in extensive underground exploration at Fekola throughout 2024 and 2025, completing over 9,300m of developmental work. Following the green light from Malian authorities, B2Gold initiated stope ore production and processing of stockpiled ore through its mill.
The company projects that Fekola underground will contribute 25,000 to 35,000 ounces of gold in 2025, with expectations for increased output in subsequent years.
The future development of Fekola Regional is set to add approximately 180,000 ounces annually from 2026 to 2029. Preparatory mining activities at Fekola Regional are poised to commence following permit approvals anticipated by the end of Q3 2025.
B2Gold has maintained its gold production forecast for the Fekola Complex at between 515,000 to 550,000 ounces for 2025.
The Canadian miner acquired the Fekola project by merging with Papillon Resources in 2014. Construction on the Malian project started in February 2015, leading to the completion of the Fekola mill and the start of ore processing in September 2017.
The first gold pour occurred in October 2017 and commercial production was subsequently achieved in late November 2017.
