B2Gold achieves record production for 11th year in a row

Fekola operation in Mali. (Image courtesy of B2Gold).

B2Gold (TSX: BTO) (NYSE AMERICAN: BTG) reported a record annual consolidated gold production of 969,495 ounces in 2019, including 118,379 ounces from discontinued operations.

The 2019 figures exceeded the upper end of the company’s guidance, which was set between 935,000 and 975,000 ounces. The numbers also mark the eleventh consecutive year that B2Gold achieved record annual consolidated gold production.

Part of B2Gold’s 2020 plans will be supported by the Fekola mine expansion project, which will increase processing throughput to 7.5 Mtpa

In a press release, the Canadian miner said that this success can be attributed to the high output of the Fekola mine in Mali, the Masbate mine in the Philippines and Otjikoto mine in Namibia, which all exceeded the upper end of their 2019 production guidance.

“In December 2019, the Fekola mine exceeded one million ounces of gold production (since the commencement of ore processing began in September 2017), achieving this milestone a full year ahead of the original production schedule,” the media brief states.

B2Gold also reported annual consolidated gold revenues from continuing operations of $1.15 billion on sales of 827,800 ounces, and annual consolidated gold revenues of $1.31 billion on sales of 943,465 ounces, including gold sales from discontinued operations.

For 2020, the company said it expects to continue the upward trend with its production guidance set between 1,000,000 and 1,055,000 ounces of gold, including attributable ounces of between 45,000 and 50,000 from Calibre Mining.

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