Staff Writer
B2Gold Corp has received an exploitation permit from Mali for the Menankoto project, paving the way for the development of its Fekola Regional gold operations.
The Menankoto Exploitation Permit was granted to B2Gold’s Malian subsidiary on 7 August. Together with the Dandoko exploration permit, Menankoto forms Fekola Regional, which the company has identified as a near-term source of production growth.
Fekola Regional is located about 20 kilometres from B2Gold’s existing Fekola Mine in Mali.
Under an agreement reached between B2Gold and the Malian government in September 2024, Fekola Regional will be owned 65% by B2Gold and 35% by the State of Mali. The existing Fekola Mine is owned 80% by B2Gold and 20% by the Malian state.
B2Gold said the Menankoto permit was issued under Mali’s 2023 Mining Code, while the Fekola Mine continues to operate under the 2012 Mining Code.
The permit follows discussions between B2Gold and the Malian government that began in July 2025. The engagement also resulted in approval for B2Gold to commence underground mining at the Fekola Mine in July 2025.
With the permit now issued, B2Gold said mining pre-stripping activities will begin at Fekola Regional, alongside the finalisation of a tolling agreement.
The company expects Fekola Regional to ramp up operations through the end of 2027 and produce more than 150,000 ounces of gold a year from 2028 through the mid-2030s.
B2Gold president and chief executive officer Mike Cinnamond said the permit was a significant milestone for the company and Mali, adding that it secures the future of the Fekola operation into the late 2030s.
B2Gold said its total investment in Mali since 2014 has exceeded US$2 billion. The company employs more than 3300 people in the country, about 98% of whom are Malian nationals.
The company said its investments in Mali have contributed to employment, training, capacity building and community investment.
The Fekola Complex, which comprises the existing Fekola Mine and Fekola Regional, is one of the key assets in B2Gold’s operating portfolio and is expected to provide gold production into the 2030s.
