B2Gold to deliver into low end of guidance amid Fekola strike

B2GOLD said on Monday it expected to deliver into its forecast gold production for this year from Mali mine Fekola despite seven day strike action that began on November 29.The strike relates to disciplinary actions taken by the company on certain employees involved in “illegal activities” during August including ‘go-slow’ actions and an illegal sit-in at the Fekola management office, the company said.“The company is continuing to operate the Fekola mill at full throughput capacity during this period and still expects to be toward the lower end of its annual production guidance for the Fekola Mine of between 420,000 and 450,000 ounces of gold in 2024,” it said.B2Gold said that it was open to meetings with the Fekola workers union, which initiated the current strike action, that might result in a resolution through its established structures.The Toronto miner also said it was pressing ahead with implementing a memorandum of understanding in September regarding adoption by B2Gold of Mali’s 2023 Mining Code in return for permits at Fekola Regional, located 25km north of the Fekola mine.B2Gold said it expected to produce between 80,000 and 100,000 oz o additional gold on an annualised basis from Fekola Regional once the exploitation permits had been issued and mining could begin.This would be though the trucking of  open pit ore from Fekola Regional to the Fekola mill. “B2Gold continues to have a strong working relationship with the Malian Government,” the company added.The MoU recognised the main Fekola complex would be subjec to Mali’s 2012 Mining Code and the Fekola Mining Convention through to 2040. The expansion properties held in Fekola Regional would be subject to the 2023 Mining Code, however.Mali also agreed to distribute outstanding VAT refunds due to B2Gold.Since coming to power in 2021, the military juntas that have ruled Mali have been seeking to extract more returns from the country’s mining sector. The 2023 Mining Code, for instance, demands the state participate in 30% of projects compared to 20% in the 2019 Mining Code.Some companies, such as B2Gold and Allied Gold, have reached agreement but others such as Barrick Gold have yet to conclude new agreements.These disputes have led to unsavoury outcomes. Barrick Gold said last week four of its employees had been charged and arrested while in November, Resolute Mining agreed to pay $160m to Mali in order to secure the release of its detained CEO Terry Holohan and two of his Resolute colleagues.The post B2Gold to deliver into low end of guidance amid Fekola strike appeared first on Miningmx.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com