B2Gold Maintains Operations at Fekola Mine Amid a Labor Strike

B2Gold Corp. BTG has announced that it is monitoring a strike that certain employees of the Fekola Mine in Mali called on Sunday. The strike is expected to continue till Dec. 5, 2024. However, B2Gold is still operating at the Fekola mill at full throughput capacity during the strike.Details on Strike at BTG’s Fekola MineUnder the notice provided to B2Gold by the Fekola workers union, the workers called for a seven-day strike. The strike was mostly called in response to the disciplinary actions the company has taken against a few employees under Malian law, Fekola’s current union agreements and the company’s employee code of conduct. According to BTG, these Fekola workers were engaged in illegal acts that reduced output at the Fekola Mine, such as ‘go slow’ actions by mining employees and an illegal sit in at the Fekola management office in August 2024. However, the company urged the employees not to take part in these illegal activities.Employees in Mali are authorized to provide minimum service under Malian legislation. Participation in strikes is optional for those who choose to continue working. Therefore, BTG continues to operate at full capacity and still expects 2024 annual production guidance for the mine to be at the lower end of the range of 420,000 to 450,000 ounces of gold.B2Gold’s Commitment to ResolutionB2Gold prioritizes the health, safety and security of its employees. The company is willing to meet with the Fekola workers union to resolve the issue.The company will continue to follow legal procedures and respect the rights of all employees. B2Gold invites the union to engage in constructive dialogue to find a resolution and the company will provide authorities with all requested information.Moreover, the company continues to have a solid working relationship with the Malian Government.BTG’s Progress on the Fekola Regional ProjectThe company is making progress with the Malian government on implementing the Memorandum of Agreement signed in September 2024. B2Gold expects to receive the necessary permits to commence exploitation at Fekola Regional.Once they are issued, mining operations will begin, with initial gold production expected in early 2025. B2Gold anticipates generating 80,000-100,000 ounces of additional gold production per year from Fekola Regional sources by trucking open-pit ore to the Fekola mill.B2Gold’s Share Price PerformanceIn the past year, B2Gold’s shares have lost 11.8% against the industry’s growth of 25.8%.Image Source: Zacks Investment ResearchBTG’s Zacks Rank & Stocks to ConsiderThe company currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks from the basic materials space are CF Industries Inc. CF, Carpenter Technology Corporation CRS and Ingevity Corporation NGVT. While CF sports a Zacks Rank #1 (Strong Buy) at present, CRS and NGVT each carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.CF Industries has an average trailing four-quarter earnings surprise of 10.3%. The Zacks Consensus Estimate for CF’s 2024 earnings is pegged at $6.32 per share. CF’s shares gained 20.6% in the last year.Carpenter Technology has an average trailing four-quarter earnings surprise of 14.1%. The Zacks Consensus Estimate for CRS’ fiscal 2025 earnings is pegged at $6.61 per share. Its shares skyrocketed 162.7% in the last year.Ingevity has an average trailing four-quarter earnings surprise of 95.4%. The Zacks Consensus Estimate for NGVT’s 2024 earnings is pegged at $2.55 per share. Its shares gained 25.7% in the last year.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks 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 CF Industries Holdings, Inc. (CF): Free Stock Analysis Report Carpenter Technology Corporation (CRS): Free Stock Analysis Report B2Gold Corp (BTG): Free Stock Analysis Report Ingevity Corporation (NGVT): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks