B2Gold could spend $740M on Gramalote mine after confirming viability

Reuters | July 14, 2025 | 5:22 pm Top Companies Canada Latin America Gold

B2Gold to kick commercial production at Mali mine earlier than planned

B2 Gold’s Fekola project in Mali. Reference (Image courtesy of B2Gold.)

Canadian miner B2Gold could spend $740 million to develop its Gramalote mine in central Colombia, the company said on Monday, while announcing the results of the project’s feasibility study.

Any investment is subject to a construction decision, the company later said in an email.

The study confirms the technical, economic and environmental viability of the project located in the municipality of San Roque in Colombia’s Antioquia department, B2Gold said in a statement.

The company said the project is expected to have a mine life of 11 years and a processing plant life of 13 years.

The study projects average annual gold production at 227,000 ounces during the first five years, and 177,000 ounces per year over the mine’s total operating life, B2Gold said.

B2Gold currently operates four gold mines in Mali, the Philippines, Canada and Namibia. Additionally, the company is pursuing exploration and expansion projects in Colombia and Finland.

(By Nelson Bocanegra and Brendan O’Boyle; Editing by Sarah Morland and Leslie Adler)