PRECIOUS METALS

B2Gold to proceed with Fekola expansion

Major reveals positive PEA to take throughput to 7.5Mt/y

This article is 5 years old. Images might not display.

The Vancouver-based company based its decision on a positive PEA.

The study assessed the company's options for expanded mining and processing of the substantially increased indicated and inferred resources announced in October.

It found B2Gold would have few challenges lifting baseline capacity from 6Mtpa to 7.5Mtpa for the low capital outlay since it would not require an additional ball mill or  power generation capacity.

An optimised mine plan has more higher grade ore being delivered to the bigger plant after expansion of the mining fleet. Fekola could produce 550,000oz/y between 2020 and 2024 and 400,000oz/y on average between 2019-2030, B2Gold said.

The PEA outlines a $500 million increase in Fekola's NPV, forecast life-of-mine pre-tax net cash flow of about $2.8 billion. The revised life of mine operating cash cost and AISC will be between $500-$700/oz.

B2Gold said it was also assessing various optimisation alternatives, including processing gold ore from its Anaconda project, north of Fekola, as well as installing solar power at the Fekola premises and various tailings and waste disposal strategies.

B2Gold said the process would continue through the second quarter of this year and would be incorporated into a revised Fekola LOM plan, slated for publication in the first quarter next year.

Fekola, which poured first gold late in 2017, has an indicated mineral resource of 92.8Mt grading 1.92g/t containing 5.73Moz.

 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.