B2Gold Completes Fekola Solar Plant Expansion to Cut Fuel Costs

B2Gold Corp. BTG announced the completion of the Phase 2 expansion of the Fekola Solar Plant in Mali. The plant is now operational. The expansion will reduce emissions and fuel consumption, aligning with B2Gold's sustainability targets.Details on BTG’s Phase 2 Solar Plant ExpansionIn June 2023, the company commenced construction of the Phase 2 Solar Plant expansion. Following initial land clearing and road construction, the physical equipment installation was completed in February 2024. The expansion entailed the addition of 46,200 solar panels, bringing the total to 142,912 panels.The construction generated more than 120 local jobs. The company trained and employed 13 individuals to maintain the Fekola Solar Plant expansion area following completion.B2Gold completed the expansion of the Fekola Solar Plant in the fourth quarter of 2024, with operations commencing in January 2025.Benefits of the Expansion to B2GoldThe Fekola Solar Plant expansion will add 22 megawatts of solar capacity and 12.7 megawatt-hours of battery storage, enabling a 63,000-ton reduction in carbon-dioxide-equivalent emissions annually. Heavy fuel oil consumption is expected to decrease by 20 million liters per year, which is likely to lead to a significant reduction in costs. The expanded plant will provide around 30% of the site's total electricity needs, making it one of the largest off-grid solar/HFO hybrid power plants globally. These initiatives support B2Gold's goal to reduce Scope 1 and 2 greenhouse gas emissions by 30% by 2030, relative to its 2021 baseline.BTG’s Q4 PerformanceB2Gold reported adjusted earnings per share of 1 cent for fourth-quarter 2024, missing the Zacks Consensus Estimate of 6 cents. The bottom line slumped 86% year over year. The downside was attributed to the decrease in gold ounces sold in the quarter due to lower production at the Fekola mine.BTG generated revenues of $499.8 million in fourth-quarter 2024, reflecting a year-over-year decrease of 2.4%. The 33.5% increase in average realized gold prices was partially offset by a 26.9% fall in gold ounces sold in the quarter. In the December-end quarter, BTG recorded a consolidated gold production of 186,001 ounces, down 31.1% year over year.B2Gold Stock’s Price PerformanceThe company’s shares have gained 34.3% in the past year compared with the industry’s growth of 48.7%.  Image Source: Zacks Investment Research BTG’s Zacks Rank & Stocks to ConsiderBTG currently has a Zacks Rank #3 (Hold). Some better-ranked stocks from the basic materials space are Axalta Coating Systems Ltd. AXTA, Carpenter Technology Corporation CRS and SSR Mining Inc. SSRM. AXTA has a Zacks Rank #1 (Strong Buy), and CRS and SSRM have a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.Axalta Coating has an average trailing four-quarter earnings surprise of 16.2%. The Zacks Consensus Estimate for AXTA’s 2025 earnings is pegged at $2.51 per share. Its shares gained 2.5% in the last year.Carpenter Technology has an average trailing four-quarter earnings surprise of 15.7%. The Zacks Consensus Estimate for the company’s 2025 earnings is pegged at $6.95 per share. CRS shares skyrocketed 170.3% in the last year.SSR Mining has an average trailing four-quarter earnings surprise of 155.6%. The Zacks Consensus Estimate for the company’s 2025 earnings is pegged at 85 cents per share. SSRM shares soared 127.3% in the last year.7 Best Stocks for the Next 30 DaysJust released: Experts distill 7 elite stocks from the current list of 220 Zacks Rank #1 Strong Buys. They deem these tickers "Most Likely for Early Price Pops."Since 1988, the full list has beaten the market more than 2X over with an average gain of +24.3% per year. So be sure to give these hand picked 7 your immediate attention. See them now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Carpenter Technology Corporation (CRS): Free Stock Analysis Report B2Gold Corp (BTG): Free Stock Analysis Report Axalta Coating Systems Ltd. (AXTA): Free Stock Analysis Report Silver Standard Resources Inc. (SSRM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks