B2Gold Corp. has secured official approval from the State of Mali to commence underground mining operations at its Fekola Mine— highlighting a significant advancement in the development of the Fekola Complex.
The approval, granted on 30 July 2025, follows a series of high-level meetings between B2Gold senior executives and Malian government representatives, including the Prime Minister and Ministers of Finance and Mines. The engagements reaffirmed both parties’ commitment to the agreement on the operation and governance of the Fekola Complex, first signed in September 2024.
Underground development work at Fekola has been ongoing in anticipation of this regulatory milestone. B2Gold has already completed over 9,300 meters of underground development and installed the necessary infrastructure to support operations. Following receipt of the permit, the company began stope ore production, and stockpiled ore from the exploration phase is currently being processed through the Fekola mill.
Fekola underground is expected to contribute between 25,000 and 35,000 ounces of gold production in 2025, with output forecast to ramp up significantly from 2026 onwards.
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The Fekola Complex includes the main Fekola Mine, which is owned 80% by B2Gold and 20% by the State of Mali, as well as the Fekola Regional project, located roughly 20 kilometres away. Fekola Regional consists of the Anaconda Area (formerly the Bantako, Menankoto, and Bakolobi permits, now unified under Menankoto) and the Dandoko permit. This portion of the complex is expected to be held 65% by B2Gold and 35% by the State.
The company also stated that during last week’s meetings, discussions also focused on advancing the Fekola Regional exploitation permit, with approval now expected before the end of Q3 2025. The project is forecast to add approximately 180,000 ounces of annual gold production from 2026 to 2029 and is projected to extend the Fekola Complex’s mine life into the 2030s.
Infrastructure at Fekola Regional is already in place, with haul roads, workshops, and support facilities completed on schedule in 2023. Once the exploitation permit is issued, mining pre-stripping will begin, with initial gold production anticipated in late 2025.
B2Gold has reaffirmed its 2025 production guidance for the Fekola Complex at between 515,000 and 550,000 ounces of gold.
